Question
using the data table process in excel, design and develop a compound interest data table using...
using the data table process in excel, design and develop a compound interest data table using the following information. A) The two (2) variables to be manipulated are: [1) the dollar amount invested (100-500 in increments of 100), 2) the number of years invested (2-10 in increments of 2)]; B) the constant, annual interest rate is to be 4.25%; C) Round the formula for computing compound interest to 2 decimals using the following compounding formula: the dollar amount invested multiplied by (1+interest rate) raised to the number of years; D) Label and format the table appropriately.
Homework Answers
Answer #1
FAF ( 4.25% , n years) indicates compound interest factor upto 2 decimals
FAF(4.25%, 2years ) =1+interest rate raised by
n= 
=
1.09 (rounded off to 2 decimals )
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