Question: 1. (Spreadsheet problem) If you invest $900 in a bank in which it will earn 8 percent compounded annually, how much will your investment be worth at the end of 7 years? Use a spreadsheet to do your calculations.
2. (Spreadsheet problem) In 20 years you'd like to have $250,000 to buy a vacation home, but you have only $30,000. At what rate must your $30,000 be compounded annually for it to grow to $250,000 in 20 years? Use a spreadsheet to calculate your answer.