Could someone help me with putting this in Excel?
1. Compare simple and compound interest (compounded annually) on a principal of $95,500 at an annual rate of 4.25%, for a 10-year period. Fill in the following chart:
End of Simple Interest Total Accrued With Compound Interest Total Accrued With
Period Earned Simple Interest Earned Compound Interest
Per Period
1 year _____________ ______________ _______________ _______________
5 years _____________ ______________ _______________ _______________
10 years _____________ ______________ _______________ _______________
2. Suppose you deposit $250 at the end of every month for the duration of a 30-year contract in an account paying 4.75% compounded monthly. How much money will you have at the end of the contract?
n = ____________________
i = ____________________
Answer: ______________________________________
3. If you make a one-time deposit of $22,500 at an annual rate of 3.50% compounded daily, how much money will you receive in 20 years?
n = ____________________
i = ____________________
Answer: _______________________________________