Homework Answers
The Future value of $ 21000 after 9 years at an interest rate of 6.7% p.a. can be calculated on Microsoft Excel as follows:
Step 1: Go to the "FORMULAS" Tab at the top under that click the drop down arrow of the option "Financial"
Step 2: Select the option "FV"
Step 3: Insert Rate = 0.067
NPER = 9
PV = 21000
PMT and Type to be left blank and press ENTER
You will get the answer as $37,644.29
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