I have simple Future value and Present value problems on excel that need to be done. Need 100% accuracy.
| Lump Sum Calculations of PV and FV | ||||||||||||||
| Solve for the values required in the green-shaded cells. Reference the values in the gray cells in your formulas. Use formulas from the text, not Excel Functions. All results should be positive numbers. Do not round any calculations. | ||||||||||||||
| 1 | You receive an inheritance of $150,000. You want to save it for your child’s college education. Your child should begin college in 12 years. If you can earn 3.5% on your savings, how much will you have when your child enters college? | 4 | Tution, room & board at Brockport has recently been about $26,000 annually. You hope to send your 11 year old child to Brockport when he turns 18. The cost of college tuiton, room and board has been growing at an annual rate of 4.2%, and that trend is expected to continue. How much will you have to pay for your child’s education over the 4 years at Brockport? | |||||||||||
| 3.5% | 12 | 150,000.00 | Growth rate: | 4.2% | Current Cost: | 26,000 | Current age: | 11 | ||||||
| 2 | How much would you have to deposit today to have a balance of $750,000 at retirement 40 years from today assuming you could earn 3.6% APR during that time? | age | cost | |||||||||||
| freshman year: | 18 | |||||||||||||
| sophomore year: | 19 | |||||||||||||
| junior year: | 20 | |||||||||||||
| senior year: | 21 | |||||||||||||
| 3.6% | 40 | 750,000.00 | Total: | |||||||||||
| 3 | You win a lottery and can either receive $50,000 3 years from today (option 1), or $60,000 7 years from today (option 2). If you could earn 4.0% on savings for the next 7 years, what is the correct choice to make? How much do you gain by making the correct choice? | |||||||||||||
| 5 | The U.S. Population is 331 Million. The currrent annual growth rate in the population is .6%. Approximately what will the U.S. population be 30 years from today? | |||||||||||||
| Growth rate: | 0.6% | population: | 331,000,000 | years from today: | 30 | |||||||||
| PV option 1 | 3 | 50,000.00 | Future Population: | |||||||||||
| PV option 2 | 7 | 60,000.00 | ||||||||||||
| Rate: | 4.0% | gain: | ||||||||||||
| choice: | ||||||||||||||
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