CTC/MTC 374 – Project 1 (Simple vs. Compound Interest)

1. Recreate the spreadsheet template below.
2. Solve the following problem by the using the spreadsheet template you created. Some modifications of the original template may be necessary.
3. Drop off the excel file with your name and the example problem statement.

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Example Problem: $6,000 is deposited into a Roth IRA at age 25. Provide a graph showing how much the account is worth every year over a 40-year period if:

1. The account earns 5% simple interest per year.
2. The account earns 5% compound interest per year.