Friday’s Bell Ringer Refresh your webpage!

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Presentation transcript:

Friday’s Bell Ringer Refresh your webpage! Download the Examples file from my website. Type in the formulas to solve the worksheet. You have 8-10 minutes and you should use your notes, if needed.

Financial Function Examples =Function Name(R,T,P)—If Monthly, R/12 and T*12) Function Name = PMT (payment) or FV (future value)—R = APR Calculate the Monthly Payment R=5% T=30 years P=150000 T=15 years Calculate the Future Values R=8% T=30 years P=4000 per year P=500 per month

Formula Answers to Slide 2 Rate % Term (years) Principle Answer Total Saved or Invested 0.05 30 150000 =PMT(A2/12,B2*12,C2) =D2*360 15 =PMT(A3/12,B3*12,C3) =D3*180 0.08 4000 =FV(A4,B4,C4) =C4*B4 500 =FV(A5/12,B5*12,C5) =C5*360

Numeric Answers to Slide 2 Rate % Term (years) Principle or Investment Answer Total Saved or Invested 0.05 30 150000 ($805.23) ($289,883.68) 15 ($1,186.19) ($213,514.28) 0.08 4000 ($453,132.84) $120,000.00 500 ($745,179.72) $180,000.00