   # In Chapter 20, we will cover engineering economics. For now, using the Excel Help menu, familiarize yourself with the following functions. Create a simple example and demonstrate the proper use of the function. a. FV(rate, nper, pmt, pv, type) b. IPMT(rate, per, nper, pv, fv, type) c. NPER(rate, pmt, pv, fv, type) d. PV(rate, nper. pmt, fv, type) ### Engineering Fundamentals: An Intro...

5th Edition
Saeed Moaveni
Publisher: Cengage Learning
ISBN: 9781305084766

#### Solutions

Chapter
Section ### Engineering Fundamentals: An Intro...

5th Edition
Saeed Moaveni
Publisher: Cengage Learning
ISBN: 9781305084766
Chapter 14, Problem 2P
Textbook Problem
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## In Chapter 20, we will cover engineering economics. For now, using the Excel Help menu, familiarize yourself with the following functions. Create a simple example and demonstrate the proper use of the function.a. FV(rate, nper, pmt, pv, type)b. IPMT(rate, per, nper, pv, fv, type)c. NPER(rate, pmt, pv, fv, type)d. PV(rate, nper. pmt, fv, type)

(a)

To determine

Using the Excel ‘Help’ menu, demonstrate the proper use of given function FV(rate,nper,pmt,pv,type) with a simple example.

### Explanation of Solution

Open the spread sheet (excel sheet) go to file and select Help, it will displays “Microsoft office help”, now click on it, then a new pop-up displays with the name of “Excel Help”. Now in the search place Type ‘FV’ and click search it will display various syntax functions related to finance.

Now click on the function “FV function”, it will be shown the article for FV function and given excel function is,

FV(rate,nper,pmt,pv,type)

That is, returns the future value of a series of payments.

Here,

rateis refer to interest rate per period,

nper is refer to total number of payment periods in an annuity,

pmt is refer to payment made each period,

pv is refer to present value, and

type is refer to the number 0 or 1 indicating when payments are due, end or the beginning of period.

Example:

The future value of \$10000 deposits every year for 10 years at 6

(b)

To determine

Using the Excel ‘Help’ menu, demonstrate the proper use of given function IPMT(rate,per,nper,pv,fv,type) with a simple example.

(c)

To determine

Using the Excel ‘Help’ menu, demonstrate the proper use of given function NPER(rate,pmt,pv,fv,type) with a simple example.

(d)

To determine

Using the Excel ‘Help’ menu, demonstrate the proper use of given function PV(rate,nper, pmt,fv,type) with a simple example.

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