Alpha Geek

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  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

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    Polytechnic State University
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Category > Business & Finance Posted 14 May 2017 My Price 6.00

Your generous grandmother has just announced

Your generous grandmother has just announced that she’s opened a savings account for you with a deposit of $10,000. Moreover, she intends to make you 9 more similar gifts, at the end of this year, next year, etc. If the savings account pays 8% interest, how much will you have accumulated at the end of 10 years (one year after the last gift)?

Suggestion: Do this problem 2 ways, as shown below: a) take each amount and calculate its future value in year 10 (as illustrated in cells C7:C16) and then sum them; b) use Excel’s FV function, noting that here the amounts come at the beginning of the year (you’ll need to enter “1” in the Type option as described in Section 1).

 

 

 
 

 

Answers

Alpha Geek
(8)
Status NEW Posted 14 May 2017 03:05 PM My Price 6.00

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Attachments

file 1494776333-2253245_1_636302785686218933_PV.xlsx preview (15 words )
In-----------ter-----------est----------- ra-----------teY-----------ear-----------Gif-----------t a-----------t b-----------egn-----------nin-----------g o-----------f t-----------he -----------yea-----------rFu-----------tur-----------e v-----------alu-----------e a-----------t 1-----------0th----------- ye-----------arA-----------ccu-----------mal-----------ate-----------d a-----------mou-----------ntF-----------rom----------- FV----------- fu-----------nct-----------ion-----------By -----------For-----------mul-----------a -----------
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