PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS When the world economic crisis began in the fall of 2008, Esteban Arenas decided to secure the future of his little granddaughter and in the spring (March 21), Florcita's fourth birthday (name given to his granddaughter, in honor and memory of Esteban's grandmother) he deposits $400,000.00, in an account that pays 7¼ % interest, capitalizable monthly; with the objective of giving that amount to Ingrid when she turns 21 and can have a big party in Las Vegas. At her father's request, he asked that the amount be delivered at the party that will be held when they are on vacation, on June 30 of the year she turns 21. How much will Florcita receive that day?, The Finance Company reinvests at simple interest when they are not full compounding periods. Note:
PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS
When the world economic crisis began in the fall of 2008, Esteban Arenas decided to secure the future of his little granddaughter and in the spring (March 21), Florcita's fourth birthday (name given to his granddaughter, in honor and memory of Esteban's grandmother) he deposits $400,000.00, in an account that pays 7¼ % interest, capitalizable monthly; with the objective of giving that amount to Ingrid when she turns 21 and can have a big party in Las Vegas. At her father's request, he asked that the amount be delivered at the party that will be held when they are on vacation, on June 30 of the year she turns 21. How much will Florcita receive that day?, The Finance Company reinvests at simple interest when they are not full compounding periods.
Note:
In the image, this is the original exercise, it is in Spanish, but it is easy to understand.
Very important Note:
It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.
TO CONSIDER THE YEAR AS 360 DAYS (WHICH IS COMMERCIAL) (only if required))
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