If you deposit 3000 in a bank that pays 2 interest


Please Help me answer these questions using time value excel formulas in excel.

a) If you deposit $3,000 in a bank that pays 2% interest, compounded semiannually, how much will you have in the account after 6 years?   THIS QUESTION NEEDS TO BE ANSWERED USING TIME VALUE FUNCTIONS IN EXCEL.

b) How much interest will you have earned in the 6 years? Use an Excel formula to do the calculation.

Request for Solution File

Ask an Expert for Answer!!
Financial Management: If you deposit 3000 in a bank that pays 2 interest
Reference No:- TGS02854507

Expected delivery within 24 Hours