An annuity pays a fixed amount of $3,000 at the end of each of the next 5 years. Assume the interest rate is 8%. Use Excel, and list the time period (0, 1, 2, 3, 4, 5) and the amount $3,000. Then, Use Excel function to calculate the present value of the annuity. Use Excel function to calculate the future value of the annuity 5 years (enf of 5th year) from now. Submit the Excel file with all the details of time periods, amount of payment, and the Excel functions used to calculate the answers.
An annuity pays a fixed amount of $3,000 at the end of each of the next 5 years. Assume the interest rate is 8%. Use Excel, and list the time period (0, 1, 2, 3, 4, 5) and the amount $3,000. Then, Use Excel function to calculate the present value of the annuity. Use Excel function to calculate the future value of the annuity 5 years (enf of 5th year) from now. Submit the Excel file with all the details of time periods, amount of payment, and the Excel functions used to calculate the answers.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
ChapterM: Time Value Of Money Module
Section: Chapter Questions
Problem 7MC
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Use Excel, and list the time period (0, 1, 2, 3, 4, 5) and the amount $3,000. Then,
Use Excel function to calculate the
Use Excel function to calculate the
Submit the Excel file with all the details of time periods, amount of payment, and the Excel functions used to calculate the answers.
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