Specifying Savings Terms to Create an Account Summary

Suppose you put $500 each month into an account that earns 6% interest for 20 years. What is the balance of the account after those 20 years?

In the Investment Analysis dialog box, select Investment $\rightarrow$ New $\rightarrow$ Savings from the menu bar to open the Savings dialog box.

To specify the savings, follow these steps:

Enter RETIREMENT for the Name.
Enter 500 for the Periodic Deposit.
Enter 240 for the Number of Deposits.
Enter 6 for the Initial Rate.

You must specify the savings before generating the account summary. After you have specified the savings, click Create Account Summary to compute the ending date and balance and to generate the account summary displayed in Figure 55.9.

Figure 55.9: Creating an Account Summary

Click OK to return to the Investment Analysis dialog box.

Previous Page
|
Next Page
|
Top of Page