A pleasant gentleman has advised you via email that you are entitled to a $1 million inheritance. Putting specifics aside, you start to ponder the retirement nest-egg this could help you accumulate over the next 30 years. As a diligent finance student you do some research and find that the money can be invested into an account paying a fixed 4% rate, compounded quarterly. How much retirement money would be in the account after 30 years? (round to nearest dollar)=FV(0.04/4,30*4,0,-1000000,0) This the answer for Q 5 It turns out that the gentleman in Question 5 is really a devious centaur looking to con good people out of their hard earned money. Undeterred, you decide to calculate how much money you would need to put aside at the beginning of each month for the next 30 years in order to have the sum of money determined in Question 5. You estimate conservatively that your money will earn 3% a year, compounded monthly. What will your monthly contribution to the account need to be? Answer in Excel. I only need the second step Question 6 answered in Excel and I need all arguments you have already worked Q5 for me.Thanks!! This number is a positive number in the end I have the answers I am trying to figure out how we came up with the number in EXXCEL! Please do not leave any argument of the 5 in TVM empty I have the answer and its a positive answer in the book. (5649.47) This is the answer i am trying to come up with in Excel. this is the 3rd time I have asked for this question. Please show everything in excel. Thank You!!!!
A pleasant gentleman has advised you via email that you are entitled to a $1 million inheritance. Putting specifics aside, you start to ponder the retirement nest-egg this could help you accumulate over the next 30 years. As a diligent finance student you do some research and find that the money can be invested into an account paying a fixed 4% rate, compounded quarterly. How much retirement money would be in the account after 30 years? (round to nearest dollar)=FV(0.04/4,30*4,0,-1000000,0) This the answer for Q 5
It turns out that the gentleman in Question 5 is really a devious centaur looking to con good people out of their hard earned money. Undeterred, you decide to calculate how much money you would need to put aside at the beginning of each month for the next 30 years in order to have the sum of money determined in Question 5. You estimate conservatively that your money will earn 3% a year, compounded monthly. What will your monthly contribution to the account need to be? Answer in Excel.
I only need the second step Question 6 answered in Excel and I need all arguments you have already worked Q5 for me.Thanks!! This number is a positive number in the end I have the answers I am trying to figure out how we came up with the number in EXXCEL! Please do not leave any argument of the 5 in TVM empty I have the answer and its a positive answer in the book. (5649.47) This is the answer i am trying to come up with in Excel. this is the 3rd time I have asked for this question. Please show everything in excel. Thank You!!!!
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