The following information relates to the number cases to be solved by using financial functions:If you deposited sum of 200 JOD at the beginning of each month for 20 Years at an annual interest rate of 12%. What are the present and future values of these deposits?If the annual interest rate is 6%, what is the monthly payment to be invested at the beginning of each month for a period of 20 years to save the amount of 100000 JOD?Salem invested 120000 JOD for 10 years and the total value of this investment have reached to 195467 JOD, what is the annual interest rate for this investment.Required:Create a new worksheet “Q2”and formulate it to be suitable then use the necessary financial functions to resolve the previous examples.

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Answered: If you deposited sum of 200 JOD at the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following information relates to the number cases to be solved by using financial functions:

If you deposited sum of 200 JOD at the beginning of each month for 20 Years at an annual interest rate of 12%. What are the present and future values of these deposits?
If the annual interest rate is 6%, what is the monthly payment to be invested at the beginning of each month for a period of 20 years to save the amount of 100000 JOD?
Salem invested 120000 JOD for 10 years and the total value of this investment have reached to 195467 JOD, what is the annual interest rate for this investment.

Required:

Create a new worksheet “Q2”and formulate it to be suitable then use the necessary financial functions to resolve the previous examples.

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