* Use spreadsheet functions to solve the following. (Do not use the TVM formulas by hand unless you want practice or to check your spreadsheet commands.) Natalie is making monthly contributions of $210 to her investment account which pays interest at the annual percentage rate (APR) of 5.2%, compounded monthly. Right after Natalie makes her 36th contribution, the investment APR changes to 5.8% and Natalie makes 46 more $210 contributions. What is Natalie's balance right after her last contribution? Final answer = $ (Round to the nearest cent/penny.) After Natalie makes those first 36th contribution, and you know the amount in the account at that point, what single spreadsheet formula would give the final result that you reported above? Formula: Select an answer 9 -PV Tip: Num eed to be mathematically accurate and do NOT have to look exactly like -FV .03 and those will be marked 12 -PMT spreadsh « like. You CAN enter things like 12*55, or correct if they are mathematically accurate. Do not insert any commas in your answers. Hint: (1 of 3): You should break this down in steps, which may mean using more than one spreadsheet function/command.
* Use spreadsheet functions to solve the following. (Do not use the TVM formulas by hand unless you want practice or to check your spreadsheet commands.) Natalie is making monthly contributions of $210 to her investment account which pays interest at the annual percentage rate (APR) of 5.2%, compounded monthly. Right after Natalie makes her 36th contribution, the investment APR changes to 5.8% and Natalie makes 46 more $210 contributions. What is Natalie's balance right after her last contribution? Final answer = $ (Round to the nearest cent/penny.) After Natalie makes those first 36th contribution, and you know the amount in the account at that point, what single spreadsheet formula would give the final result that you reported above? Formula: Select an answer 9 -PV Tip: Num eed to be mathematically accurate and do NOT have to look exactly like -FV .03 and those will be marked 12 -PMT spreadsh « like. You CAN enter things like 12*55, or correct if they are mathematically accurate. Do not insert any commas in your answers. Hint: (1 of 3): You should break this down in steps, which may mean using more than one spreadsheet function/command.
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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Transcribed Image Text:Use spreadsheet functions to solve the following. (Do not use the TVM formulas by hand unless you want
practice or to check your spreadsheet commands.)
Natalie is making monthly contributions of $210 to her investment account which pays interest at the annual
percentage rate (APR) of 5.2%, compounded monthly. Right after Natalie makes her 36th contribution, the
investment APR changes to 5.8% and Natalie makes 46 more $210 contributions. What is Natalie's balance right
after her last contribution?
Final answer =
$
(Round to the nearest cent/penny.)
After Natalie makes those first 36th contribution, and you know the amount in the account at that point, what
single spreadsheet formula would give the final result that you reported above?
Formula: v Select an answer 9 (
-PV
Tip: Num
eed to be mathematically accurate and do NOT have to look exactly like
-FV
.03
and those will be marked
12
-PMT
spreadshi
k like. You CAN enter things like 12*55, or
correct if they are mathematically accurate. Do not insert any commas in your answers.
Hint: (1 of 3): You should break this down in steps, which may mean using more than one spreadsheet
function/command.
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