The Acme Company must solve a series of five problems that require you to apply the concept of "time value of money," or TVM. The five problems are listed below. Solving them will require the use of Microsoft Excel and these TVM tables (see the attachments). Before you begin your work, each student is to select a unique nine-digit random number that contains no zeros, no "patterns," and should use most of the digits between one and nine. This value will be referred to as the student unique number (SUN). Further, digits within the SUN are read from left to right. For example, if the SUN = 123456789, the first digit = 1, the second digit = 2, etc. Please note that the interest rate used in all questions represents an annual rate.
The solution uses Excel functions to calculate various time value of money problems.