_____Function to calculate the amount of a specific periodic payment that is principal in a given period
_____Function to determine the value of a variable set of cash flows discounted to its present value
_____Function to determine the rate of return, where the net present value of the cash flows is
Assume that you have been left an inheritance and want to save part of it toward the purchase of a car upon graduation, which is three years from now. Write an Excel formula to determine the amount of money you need to invest now to have $17,000 at the end of the three-year period. Assume that you will place this money in a CD that pays 2% interest compounded quarterly and that you will be making no additional deposits into this account.