| Worldwide Sporting Goods |
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| Financial
Worksheet |
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| Calculating
the number of periods required to accumulate a specific value: NPER Function |
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invest $20,000 at the end of each year into an account earning 8% a year. The
account is currently worth $40,000. Using the NPER function, determine how long it will take for the account to
be worth $500,000. |
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| Payment (pmt) |
$ (20,000) |
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Term Years |
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| Interest (rate) |
8% |
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12.35 |
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| Present Value (pv) |
$ (40,000) |
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| Future Value (fv) |
$ 500,000 |
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| Worldwide
Sporting Goods |
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| Financial
Worksheet |
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| Calculating
the Periodic Payments: Using the PMT Function |
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| You
need to borrow $150,000 for a mortgage on a house. The yearly interest rate
of the mortgage will be 8.5%, and the length of the mortgage is 30 years. Use
the PMT function to determine
your monthly payments. |
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| Principal (pv) |
$ 150,000 |
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Payment |
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| Interest (rate) |
8.50% |
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Per Month |
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| Term/years (nper) |
30 |
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($1,163) |
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