What interest rate did you earn compounded annually

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Reference no: EM132069818

1. You have 85 million dollars from lottery. After taxes are taken out, yourhave 51 million dollar. You want to receive the money in the form of equal payments of 85,000$ at the end of each month for next 50 years. If the appropriate discount rate is 5.47%, compounded monthly, what is this really worth to you now? Also how would you be able to do this in excel?

2. Four years ago, you opened an investment account with 1500$. Exactly three years ago, you put in another 800$. For the past two years, you put in 500$ each year. Today, you have a balance of 4,124.17$. What interest rate did you earn compounded annually? Show work. Use excel as well.

Reference no: EM132069818

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