Problem
If you put $15,000 in the bank today to save for college, and leave it for 20 years, what quarterly rate of interest will you have to earn in order to be able to pay a $50,000 tuition bill when you take the money out? This can be calculated using TVM. I may have entered the values of quarters per year or numbers of periods wrong, I'm not sure. Is my value of the number of periods incorrect? Also, how would I get the rate using the excel formula or format? I am not sure how to do that. My book gave these excel formula examples, but I was to sure which one to use (see second image attached).