Question

. Go to the Retirement Projections worksheet, if necessary, which compares details for three retirement plans Nadia is evaluating for the law firm. The options show the amount the firm would contribute to an employee's retirement plan per month for 10 years and the monthly rate of return. Nadia wants to determine the future value of the Investments for each plan. In cell C10, insert a formula with the FV function that uses the monthly rate of return

(cell C6), the number of payments (cell C8), and the monthly payment (cell C7) to calculate the future value of Plan 1. Fill the range D10:E10 with the formula in cell C10 to calculate the future value of Plans 2 and 3 in excel

Answer 1

To calculate the future value of Plan 1 in cell C10, you can use the FV function with the following formula:

=FV(C6, C8, C7)

To calculate the future value of Plans 2 and 3 in cells D10 and E10, simply copy the formula in cell C10 and paste it in cells D10 and E10. The formula should adjust accordingly to calculate the future value of each plan using the respective monthly rate of return, number of payments, and monthly payment amount for each plan.