If you were going to evaluate the how much money you have after ten years of saving $100 per month, which Excel function would help you calculate it.
A)PMT
B)FV
C)Profit
D)Invest

Question

Quizplus · Accepted Answer

The Excel function that would help calculate the amount of money you have after ten years of saving $100 per month is the Future Value (FV) function. FV calculates the future value of an investment based on a constant interest rate, a constant payment, and a number of payments. In this case, the constant payment is the $100 monthly savings, the constant interest rate would be the interest rate earned on the savings over 10 years, and the number of payments would be 10*12=120 (10 years and 12 months per year). Therefore, using the FV function with these inputs, you can calculate the total amount of money you will have accumulated after ten years of saving $100 per month.

If You Were Going to Evaluate the How Much Money