Question

Work problem 1a and 1b with your calculator, using the algebra equations if possible (show work), and using the finance = function available in your spreadsheet Show what Algebraic Formula you use. Submit a screenshot of this sheet filled out with the algebraic calculations, and submit your excel spreadsheet.

1. a          Suppose your Uncle died and provided in his trust that you will receive $5,000 at the end of each year for the next 10 years. Assume you can earn 8.5% per year. How much is this worth to you now?

            Show work:                                                     Spreadsheet Answer________

1. b          Suppose you would like to buy a $12,000 atv with $2,000 down. The company will finance the remaining $10,000 at 4.5% per year with monthly payments over the next 5 years. What will your monthly payment be?

            Show work:                                                     Spreadsheet Answer________

Answer 1