Answer to Question #29507 in Finance for Delaney

Question #29507
I am doing a problem in which I have to determine the future value of an investment given the interest rate, period of time, and initial investment amount. The initial investment is $10,000, the interest rate is 5% per year, and I have to find the future value for each year up to 20 years. How do I solve this for the future value using Excel?
Expert's answer
You should write to 1 cell you initial investment (let it be the cell B2)inthe cell below write the next formula: =B2+B2*0.05 . To do it you should copy
=B2+B2*0.05 and paste it to the cell B3
Then you should move your mouse to the right bottom corner of cell B3 and
"stretch" it to the next 20 cells down
and your answer will be in the cell B22.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be the first!

Leave a comment

Ask Your question

New on Blog