Chapter 9 - BUSINESS MATH USING EXCEL A 1 2 3 4 B C Name_...

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BUSINESS MATH USING EXCEL Name ______________________________ Date __________________________ Chapter 09 - Exercise 08 Original Principal $5,000.00 Rate 12.4% First Year's Interest $620.00 Base Amount for Next Year $5,620.00 Second Year's Interest $696.88 Compound Amount $6,316.88 Compound Interest $1,316.88 Directions: B. Compute the compound amount and compound interest. First Second Third Fourth Quarter Quarter Quarter Quarter Base Amount $10,000.00 $10,300.00 $10,609.00 $10,927.27 Yearly Rate 12% 12% 12% 12% Compound Periods 4 4 4 4 Quarterly Interest Rate 0.03 0.03 0.03 0.03 Quarterly Interest Amount $300.00 $309.00 $318.27 $327.82 Quarterly Compound Amount $10,300.00 $10,609.00 $10,927.27 $11,255.09 Compound Amount $11,255.09 Compound Interest $1,255.09 Directions: b. In Cell B30, enter the formula to calculate the Quarterly Interest Amount. c. In Cell B31, enter the formula to calculate the Quarterly Compound Amount. d.
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This note was uploaded on 04/13/2010 for the course BUSINESS 15643 taught by Professor Schilz during the Spring '10 term at École Normale Supérieure.

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