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using excel functions
1.Bob Fry wants to buy his grandson a Ford Taurus in 4 years. The cost of a car will be
$28,000. Assuming a bank rate of 4% compounded quarterly, how much must Bob put in the bank today?
2.Bill Blum needs $40,000 6 years from today to attend V.P.R. Tech. How much must Bill put in the bank today (8% quarterly) to reach his goal?
3.
| Column1 | FV | Time | Rate | Table Period | Rate Used | PV Factor | PV amount | |
| question 1 | $9,000 | 7 years | 2.5% semi annual | | | | | |
| question 2 | $20,000 | 20 years | 4% annually | | | | | |
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