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Compare simple and compound interest

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Reference no: EM131919351

Could someone help me with putting this in Excel?

1. Compare simple and compound interest (compounded annually) on a principal of $95,500 at an annual rate of 4.25%, for a 10-year period. Fill in the following chart:

End of            Simple Interest        Total Accrued With        Compound Interest        Total Accrued With

Period                 Earned                  Simple Interest                      Earned                    Compound Interest                    

Per Period

1 year            _____________        ______________          _______________          _______________

5 years          _____________        ______________          _______________          _______________

10 years        _____________        ______________          _______________          _______________

2. Suppose you deposit $250 at the end of every month for the duration of a 30-year contract in an account paying 4.75% compounded monthly. How much money will you have at the end of the contract?

n = ____________________

i = ____________________

Answer:  ______________________________________

3. If you make a one-time deposit of $22,500 at an annual rate of 3.50% compounded daily, how much money will you receive in 20 years?

n = ____________________

i = ____________________

Answer: _______________________________________

Reference no: EM131919351

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