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Teaching Tool 12 - Financial Calculator for Excel 6-Nov-07 Personal Finance: Another Perspective Purpose: The purpose of this

spreadsheet is to give an Excel template for a financial calculator. It is written in Excel, and uses the Excel financial functions. Again, as with all financial estimates, if you use reasonable estimates your results are likely to be reasonable as well. Disclosure: The purpose of this spreadsheet and this class is to help you get your financial house in order and to help you on your road to financial self-reliance. If there are mistakes in this spreadsheet, please bring them to our attention and we will correct them in upcoming versions. The teacher, and BYU, specifically disclaim any liability, or responsibility for claims, loss, or risk incurred, directly or indirectly, from using this material. Instructions: Note: Input data in the green cells only. Hit [Clear] after each problem to clear the information. If the answer is #DIV/0, there is likely not enough information to answer the problem. Use the Inputs Needed Table (in yellow) to make sure you have sufficient information to solve the problem. In using this calculator, assume that money you pay out to invest is negative, i.e. you pay it out. Then, when you receive money the sign should be positive, i.e. you receive the money. For example, you have invested $3,000 each year for 15 years at 8% interest. Since you pay the $3,000 out each year the sign should be negative. When you solve for your Future Value [Calculate FV] the answer will come back a positive number, i.e. PMT = -3,000, N = 15, P/Y = 1, I = 8%, then solve for Future Value [Calculate FV] = $81,456. This is the amount of money you will have at the end of 15 years assuming your investments returned 8% each year.

Teaching Tool 12 - Financial Calculator for Excel Personal Finance: Another Perspective
Inputs Needed PV N x x x FV x x I x x x PMT x x N x x x x x x x x x x x x x x x x x x x x x x x x x I x x x x x x x x x x x x FV PMT x x x

Present Value =

PV

PV

Total Periods = N Payments/Year = P/YR Annual Interest = Future Value = I FV

Payments = PMT Type = Type: End = 0 Begin = 1

Instructions: Note: Input data in the green cells only. Hit [Clear] after each problem to clear the information. If the answer is #DIV/0, there is likely not enough information to answer the problem. Use the Inputs Needed Table (in yellow) to make sure you have sufficient information to solve the problem. In using this calculator, assume that money you pay out to invest is negative, i.e. you pay it out. Then, when you receive money the sign should be positive, i.e. you receive the money. For example, you have invested $3,000 each year for 15 years at 8% interest. Since you pay the $3,000 out each year the sign should be negative. When you solve for your Future Value [Calculate FV] the answer will come back a positive number, i.e. PMT = -3,000, N = 15, P/Y = 1, I = 8%, then solve for Future Value [Calculate FV] = $81,456. This is the amount of money you will have at the end of 15 years assuming your investments returned 8% each year.