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Function: PV; Cell ReferencingCurrent Attempt in Progress

Sharon is $40$ years old today and she wishes to accumulate $$2,360,000$ by her sixty$-$fifth birthday so she can retire to a beach in

Florida. She wishes to accumulate this amount by making equal deposits on her fortieth through her sixty$-$fourth birthdays.

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Compute the annual deposit Sharon must make if the fund will earn $6\%$ interest compounded annually. $($Round factor values to $5$ decimal

places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

Annual deposit $

Using Excel to Determine an Investment Amount

PROBLEM

John Fillmore's lifelong dream is to own his own fishing boat

to use in his retirement. John has recently come into an

inheritance. He has estimated the cost of the boat when he

retires. John plans to invest a portion of his inheritance in a

fund that will be compounded annually. Information

concerning the investment is presented here.

Student Work Area

Required: Provide input into cells shaded in yellow in this template.

Input the required mathematical formulas or functions with cell

references to the Problem area or work area as indicated.

Use the PV function to determine how much of John's inheritance he

must invest to buy the boat at retirement. Display your answer as a

positive amount.$($a$)$

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What is the future value of $24$ periodic payments of $$4,390$ each made at the beginning of each period and compounded at $8\%?$

$($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

The future value $View Policies

Current Attempt in Progress

On January $2,2025,$ Indigo Company borrowed $$183,000$ from Lyon Country Bank. The terms of the loan agreement specified $4$ equal

annual payments at $8\%$ annual interest.

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Compute the amount of each of these payments, assuming they begin on December $31,2025.($Round factor values to $5$ decimal places,

e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.458,581.)$

Periodic payments $

Answer & Explanation Solved by verified expert

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