Mr. Richards needs more analysis to update his client presentations.He would like additional future value calculations. Using the same framework as in the last mini-project, calculate the future value of bank CDs that would pay 1% and 2% annual interest.
Excel: Copy the framework from the last mini-project and change the rates. Combine the summary tables from these analysis with the prior analysis to show the compound interest earned and overall growth rates for 10, 20, 30 years and annual returns of 1, 2, 4 and 8%.
Written: Briefly describe the analysisthat you have performed and explain the effect of compound interest. Explain how the compound interest and growth rates differ across the different returns. Provide 3 summary points that could be used in a presentation about these returns.