Your assignment must be submitted in Excel with all relevant formulas. Zero credit for answers that are not calculated with the correct Excel formula.
chapter attached .
1) George expects to inherited $1,000,000 when his grandfather passes away. George expects his grandfather to live 12 more years and George uses a 3% discount rate. What is the present value of the $1,000,000 inheritance? Also, calculate for a 5% and 8% discount rate.
2) Fatima won a lawsuit that will pay her $250,000 today and another $300,000 in five years. Fatima plans to invest the money in an account that earns 4% annually. What is the future value in 15 years of the money Fatima has won in the lawsuit? The Excel sample on slide number 11 of the Chapter 6 Powerpoint is helpful. Note the Excel template has both PV and FV examples, so make sure you select the right formula.
3) Jenny wants to retire in 35 years. To do this she plans to save $6,000 a year starting today. How much will Jenny have in her retirement account in 35 years, assuming a 4% annual investment return. Also, calculate assuming a 7% annual return and a 10% annual return.
4) U.S, Savings bonds purchased for $25 are guaranteed to double in value 20 years. What is the interest rate that will result in a doubling of the bond in 20 years?
5) Juan won a lottery jackpot and received $300,000 after taxes. If Juan wants to retire with $1,000,000 how long will it take for Juan to have $1,000,000 assumming his investments earn 6% annually? Also, calculate how long it will take if the investment earn 9% and 12%
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