You are looking to invest in your company's 401(k) for your retirement. Their conservative plan boasts an APR of approximately 4.5%. Create a Data Table that varies the APR from 4.0% to 5.0% by 0.1%, and the number of years investing from 10 to 34 by 2. If you invest $400 per month for 20 years, what APR must you earn to have a minimum of $155,000?
You are looking to invest in your company's 401(k) for your retirement. Their conservative plan boasts an APR of approximately 4.5%. Create a Data Table that varies the APR from 4.0% to 5.0% by 0.1%, and the number of years investing from 10 to 34 by 2. If you invest $400 per month for 20 years, what APR must you earn to have a minimum of $155,000?
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
Related questions
Question
Hello please explain how to solve this using excel data table feature. Thank you
Transcribed Image Text:You are looking to invest in your company's 401(k) for your retirement. Their
conservative plan boasts an APR of approximately 4.5%.
Create a Data Table that varies the APR from 4.0% to 5.0% by 0.1%, and the number
of years investing from 10 to 34 by 2.
If you invest $400 per month for 20 years, what APR must you earn to have a
minimum of $155,000?
Transcribed Image Text:ge Layout
Formulas
Data
Review
View
Help
P Comments
8 Share
組
2, Solver
What-If Forecast
Analysis
Sort
Filter
Text to
Outline
Stocks
Currencies
Columns EX
Sheet
Lo..
Data Types
Sort & Filter
Data Tools
Scenario Manager..
Analyze
Goal Seek..
fr
Data
Fable..
Data Table
See the results of multiple inputs at
the same time.
M
N
F
H.
心る
Expert Solution
Step 1
The two-way data table:
The two-way data table can be used to assess the impact of various combinations of two variables on a given calculated metric.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education