Use Excel financial facilities to perform the following scenarios: You need to show the financial formulae you have used in each case.
a.Calculate the total amount earned in 5years for saving a single amount of £10,000 in a bank account that pays 3.5% per year interest (annual compounding).
b.Calculate the annual premiums paid at the end of each year for a 7-year loan of£200,000that costs 2.5% per year.
c.Calculate the total amount earned after 5years for regular monthly cash investments of£200 paid into an interest account at the beginning of each month and pays 1.25% interest per year.
d.Calculate the monthly repayments (payable at the end of each month) for aperiod of 5-year for a loan of £30,000 costing 4.5%.
e.What is the single amount you need to save now (2020) to raise £25,000 by the year 2026 if the savings rate is 3%
