PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS 1.- Now find the future or final value (FV) at compound interest of the amounts expressed in each item, taking into account the compound interest rate and its respective compounding period. Indicate separately the total amount of interest and the effective rate. a)$299,105 at 9.75% compounded quarterly for 16 years. b)$320,000 at 8.45% compounded monthly over 15 years. c)$1'909,900 at 8½% compounded semiannually over 13 years. d)$838,750 at 7½% compounded monthly over 10 years. Note:
PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS
1.- Now find the future or final value (FV) at compound interest of the amounts expressed in each item, taking into account the compound interest rate and its respective compounding period. Indicate separately the total amount of interest and the effective rate.
a)$299,105 at 9.75% compounded quarterly for 16 years.
b)$320,000 at 8.45% compounded monthly over 15 years.
c)$1'909,900 at 8½% compounded semiannually over 13 years.
d)$838,750 at 7½% compounded monthly over 10 years.
Note:
In the image, this is the original exercise, it is in Spanish, but it is easy to understand.
Very important Note:
It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.
TO CONSIDER THE YEAR AS 360 DAYS (WHICH IS COMMERCIAL) (only if required)
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