create a spreadsheet 2

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Create a spreadsheet that calculates how much money an account would grow to in 25 years if you put $5000 into it and it grew at 9% interest each year. Show the interest you earn each year and the total at the end of a given year

Part 1: Use the formula I = PRT to calculate how much interest you earn in the first year

I = interest

P = Principal (starting with $5,000)

R = Rate of interest (9%)

T = Time (1 year, in this case)

At the end of the first year, you will have the original Principal ($5000), plus the Interest (your calculation)

Add them together.

At the beginning of the next year, their sum is what you have as your starting Principal


Interest Principal Rate Time End of Year

Year 1 $450 $5,000 9% 1 $5,450

Year 2 $491 $5,450 9% 1 $5,941

Year 3

Year 4. . .

Part 2: Create a new sheet. What happens if you earn 12% starting in Year 11? (What is the final amount in year 25?)

Part 3: Create a third sheet. What happens if you earn 9% each year, but in Year 6, you start adding $1000 at the

start of each year (What’s the final amount in Yr 25?)

Use different fonts, shade the boxes, and jazz it up so it looks professional!!

*** You will have three worksheets in your Workbook when you are complete. Save as: “Watching Money Grow”

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