Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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If a cell in an Excel spreadsheet uses the following formula to determine the future value of an investment:
=FV(0.0745/12, 12*30,-145)
How much money is being invested each month?
(Express your answer rounded correctly to the nearest cent!)
%$4
What is the APR?
(Express your answer correctly rounded to the nearest hundredth of a percent!)
%
If you haven't answered the question correctly in 3 attempts, you can get a hint.
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Transcribed Image Text:If a cell in an Excel spreadsheet uses the following formula to determine the future value of an investment: =FV(0.0745/12, 12*30,-145) How much money is being invested each month? (Express your answer rounded correctly to the nearest cent!) %$4 What is the APR? (Express your answer correctly rounded to the nearest hundredth of a percent!) % If you haven't answered the question correctly in 3 attempts, you can get a hint.
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