<p> Compound Interest Project Directions You need to download a template in Excel to complete the project</p><p>1. Type your name, the date, and the title of the worksheet</p><p>2. Enter the beginning balance in Column C, Row 2 based on one of the problems below</p><p>3. Use the Calculator in the formula bar and the "Fill Down" feature of Excel to fill in the rest of the table: Click once in the cell in Column B, row 3 (cell B3)</p><p>4. Click on the picture of the calculator in the Formula Bar. If you do not see the formula bar, go to the "View" menu and select "Formula Bar"</p><p>5. Now you'll enter the formula to calculate the yearly interest. To do this, click on the cell with the beginning balance (cell C2), then use the calculator to multiply this value by the interest rate in a decimal form, click OK on the calculator when you are done. The interest for year one should appear in cell B3</p><p>6. Next, click once on the cell in Column C row 3 (cell C3, just under your beginning balance)</p><p>7. Click on the calculator again, and enter the formula for the new balance. To do this, click on cell C2, then on the plus sign in the calculator, finally click on cell B3, and click ok on the calculator when you are done. Now all that's left to do is to fill the remaining cells with the same formulas:</p><p>8. Click once on cell B3, then use your mouse or track pad to grab the lower right hand corner of the blue rectangle that appears around the cell. Drag it to the bottom of the table, staying in the same column. Some cells will have no numbers yet, don't worry.</p><p>9. Finally, repeat the last step with cell C3. Congratulations, you are done.</p><p>10. Answer the questions at the bottom of the page</p><p>11. Print your work</p><p>Problems to choose from:</p><p>Find the number of years needed Find the number of years needed Find the number of years needed to double your money if you to double your money if you to double your money if you deposit $100 in a savings account deposit $1000 in a savings deposit $40 in a savings account that earns 5% annual interest account that earns 5.5% annual that earns 6% annual interest compounded annually interest compounded annually. compounded semiannually.</p>