8) Your Kindergartener comes to you with concerns about her retirement. She has learned of the concept of compounding by reading your textbook during her down time. Demonstrate compounding to your young finance student by calculating (with Excel functions of course) what the value of $1,000 at 3% would be in 40 years with annual, semi-annual, quarterly and monthly compounding. (round to two decimal places)
8) Your Kindergartener comes to you with concerns about her retirement. She has learned of the concept of compounding by reading your textbook during her down time. Demonstrate compounding to your young finance student by calculating (with Excel functions of course) what the value of $1,000 at 3% would be in 40 years with annual, semi-annual, quarterly and monthly compounding. (round to two decimal places)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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I am not understanding how to use excel to get the answer to this.
Please show excel work
Transcribed Image Text:8) Your Kindergartener comes to you with concerns about her retirement.
She has learned of the concept of compounding by reading your textbook
during her down time. Demonstrate compounding to your young finance
student by calculating (with Excel functions of course) what the value of
$1,000 at 3% would be in 40 years with annual, semi-annual, quarterly
and monthly compounding. (round to two decimal places)
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