A bank employee has been approached by a client, Tapiwa, who wants to know how much they would earn if they take advantage of the latest bank offers. Bank Offer Introductory Interest Rate (after introductory rate) 1 2 3 4 5 6 7 8 9 10 12345 Tapiwa wants to invest £14,300. The bank employee used a spreedsheet to calculate the values for the offer below. However, this spreadsheet is incomplete. 11 A 13 Alternative Method 14 Introductory 1 2 3 4 5 6 7 8 9 15 Standard Rate 16 % B Opening Balance 11,200.00 14,957.25 7.5% 4.0% 11,200.00 16,079.05 Years 5 onwards C Interest 1 7.5% 840.00 7.5% 4.0% D Interest 2 4.0% Required What is his investment worth at the end of Year 7? Choose... E Closing Balance 12,040.00 16,722.21 16,079.05 18,810.21 What is the formula needed in Cell E14 to calculate the closing balance after 5 years? Choose... What is the formula needed in Cell F15 to calculate the closing balance after 9 years? Choose +

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