USING EXCEL FOR PRESENT VALUE CALCULATIONS
Example 4: A wealthy relative wants to deposit $15,000 in a savings account in the bank in Example 1b today for you. She wants to leave the money in the bank for 6 years The bank promises her it will pay interest of 5% compounded monthly. How much will be in the account in 6 years when she instructs the bank to send you a check for the balance? ................
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