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using excel functions 1.Bob Fry wants to buy his grandson a Ford Taurus in...

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Finance

using excel functions

1.Bob Fry wants to buy his grandson a Ford Taurus in 4 years. The cost of a car will be

$28,000. Assuming a bank rate of 4% compounded quarterly, how much must Bob put in the bank today?

2.Bill Blum needs $40,000 6 years from today to attend V.P.R. Tech. How much must Bill put in the bank today (8% quarterly) to reach his goal?

3.

Column1 FV Time Rate Table Period Rate Used PV Factor PV amount
question 1 $9,000 7 years 2.5% semi annual
question 2 $20,000 20 years 4% annually

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