ch09qz02a - Name BUSINESS MATH USING EXCEL Date A 1 B C D E...

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BUSINESS MATH USING EXCEL Name ______________________________ Date ______________________________ Chapter 09 - Quiz 02 Original Principal $3,000 Rate 6.5% First Year's Interest $195.00 Base Amount for Next Year $3,195.00 Second Year's Interest $207.68 Compound Amount $3,402.68 Compound Interest $402.68 Directions: B. Compute the compound amount and compound interest. Base Amount $6,000.00 $6,055.50 $6,111.51 $6,168.04 Yearly Rate 3.7% 3.7% 3.7% 3.7% Compound Periods 4 4 4 4 Quarterly Interest Rate 0.00925 0.00925 0.00925 0.00925 Quarterly Interest Amount $55.50 $56.01 $56.53 $57.05 Quarterly Compound Amount $6,055.50 $6,111.51 $6,168.04 $6,225.09 Compound Amount $6,225.09 Compound Interest $225.09 Directions: b. In Cell B29, enter the formula to calculate the Quarterly Interest Amount. c. In Cell B30, enter the formula to calculate the Quarterly Compound Amount. d. In Cell C25, key the Quarterly Compound Amount shown in Cell B30. e.
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This note was uploaded on 02/19/2012 for the course BUS bus 130 taught by Professor Munoz during the Winter '10 term at Everett CC.

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