Math 147
LSWFSZ
ExcelHW3SAMPLE.xlsxSample
| Q1 | Lauren invests $100,000 at a simple interest of 6%. How much interest will Lauren earn after 5 years? How much total will be in the account after 5 years? | |||
| PV | $ 100,000 | |||
| r | 6% | |||
| n | 5 | |||
| Interest | $ 30,000 | |||
| Total Amount | $ 130,000 | |||
| Q9 | You're trying to save to buy a $400,000 house. You plan to make a 20% deposit on the house. You can afford to save $1,000 per month at 12% annual interest starting one month from today. How many years will it be before you can purchase the house, assuming the price of the house remains constant? | |||
| PV | $ 80,000 | |||
| PMT | $ 1,000 | |||
| I/Y | 1% | |||
| n | 59.0720724342 | months | ||
| n | 4.92 | years | ||
