can you help me inputing the exact inputs into excel, I Know the hardcode formula...
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can you help me inputing the exact inputs into excel, I Know the hardcode formula but not how to exactly input in excel. The problem in excel is modified from the book. Thank you.
P6-16M (use the changes in bold below for the problem) Your folks would like some advice from you. An insurance agent just called and offered them the opportunity to purchase an annuity for $70,000 that will pay them $5,500 per year for 20 years. They don't have the slightest idea what return they would be making on their Investment of $70,000. What rate of return would they be earning? Hint: Use the RATE function in Excel to solve the problem. os PV 1 nper pmt FV L23
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