Sandra Alcocer goes to her bank to ask for your help to get her out of her current predicament. She needs to have $625,000.00 in 6 years. Today she deposits $90,000.00 in an account that pays 8.25% compounded monthly. Sandra wants to know exactly how much she should deposit in two years to complete and have the desired amount at the end of the term. Note:
PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS
5.- Sandra Alcocer goes to her bank to ask for your help to get her out of her current predicament. She needs to have $625,000.00 in 6 years. Today she deposits $90,000.00 in an account that pays 8.25% compounded monthly. Sandra wants to know exactly how much she should deposit in two years to complete and have the desired amount at the end of the term.
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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