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How much should you deposit monthly to accumulate

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Problem 1. Use Excel to create table with months as the first column and amount in account as the second. You have an where you make $150 monthly payments (At the end of the month) and get an APR of 6% compounded monthly? How much is in the account after 2 years? How much of this amount is interest?

Problem 2. Your goal is to have a college fund for your child. Suppose you find a fund that offers an APR of 5% compounded monthly. Create table in Excel with months as the first column and amount in account as the second. Use the table to determine how much should you deposit monthly to accumulate $85000 in 15 years.

Reference no: EM132808309

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