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Microsoft® Excel Data Analysis and Business Modeling by Wayne L. Winston

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Chapter 10. Functions for Personal Financial Decisions: The PV, FV, PMT, PPMT, and IPMT Functions

  • Should I pay $11,000 today for a copier or $3,000 a year for 5 years?

  • If I invest $2,000 a year for 40 years toward my retirement and earn 8 percent a year on my investments, how much will I have when I retire?

  • I am borrowing $10,000 on a 10-month loan with an annual interest rate of 8 percent. What will my monthly payments be? How much principal and interest am I paying each month?

When we borrow money to buy a car or a house, we always wonder whether we’re getting a good deal. When we save for retirement, we’re curious how large a nest egg we’ll have when we retire. In our daily work and personal life, financial questions similar to these questions ...

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