Re: homework

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From: Norman Harker (njharker_at_optusnet.com.au)
Date: 04/02/04 

Date: Fri, 2 Apr 2004 23:06:54 +1000

Hi C. Smith!

We don't do homework.

However, the amount at the end of a year is a future value as viewed
at the beginning of the year. You have a rate of interest and a term
of 1 year. The interest is expressed as being "annual interest".

Chip has suggested looking at the PV function.

When completing the homework, don't forget to attribute the help that
you received; attribution will generally be not only acceptable but
can score higher marks. 

-- 
Regards
Norman Harker MVP (Excel)
Sydney, Australia
njharker@optusnet.com.au
Excel and Word Function Lists (Classifications, Syntax and Arguments) 
available free to good homes.
"C. Smith" <cs31504@hotmail.com> wrote in message 
news:LIcbc.31091$u_2.4564@nwrddc01.gnilink.net...
>
> A man goes in the bank and set up an account with a 9.5% annual 
> interest. At the end of the year,  his account has earned $475.00. 
> What was the amount he originally deposit?

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