Your Auntie Mary has a tendency to spend a lot. You decided to apply your financial skills
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Description
Your Auntie Mary has a tendency to spend a lot. You decided to apply your financial skills and the use of a graph to show her how much she can save by habitually deposit 100 at the end of every month into her savings account for the next 30 years. Assume that she can earn a nominal annual interest rate of 4% in a deposit account that compounds interest every month in the next 30 years. Plot a graph that shows the accumulated savings in the 10th , 20th , and 30th years. Briefly explain your graph and clearly state your advice to Auntie Mary.a
First 10 years
PMT 100
PV 0
R
N 1012 120
Using excel function, FV FV(R,N,PMT,PV)
FV(,120,-100,0)
First 20 years
PMT 100
PV
R
N 1012 120
Using excel function,...
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Published On:
07/07/2019
Last Updated:
07/07/2019
Print Length:
3 page(s)
Word Count:
207
File Name:
your-auntie-mary-has-a-tendency-to-spend-a-lot-you-decided-to-apply-your-financial-skills-19.docx
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43.91 KB (0.04 MB)
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