1 Use Excel to calculate the future value of following investments, to the nearest cent.
a RATE $=0.05$, NPER $=3$ and PMT $=-700$
b RATE $=0.06$, NPER $=5$ and PMT $=-2000$
c RATE $=10\mathrm{\%}$, NPER $=4$ and PMT $=-1100$
d $\mathrm{RATE}=9\mathrm{\%},\mathrm{NPER}=2$ and PMT $=-5000$

Step 1 ：Use the formula for the future value of an ordinary annuity: $FV=PMT\times \frac{(1+RATE{)}^{NPER}-1}{RATE}$

Step 2 ：Calculate the future values for each investment:

Step 3 ：a) $FV=-700\times \frac{(1+0.05{)}^3-1}{0.05}$ = $-2206.75$

Step 4 ：b) $FV=-2000\times \frac{(1+0.06{)}^5-1}{0.06}$ = $-11274.19$

Step 5 ：c) $FV=-1100\times \frac{(1+0.1{)}^4-1}{0.1}$ = $-5105.10$

Step 6 ：d) $FV=-5000\times \frac{(1+0.09{)}^2-1}{0.09}$ = $-10450.00$

Step 7 ：Final Answer:

Step 8 ：$\boxed{{\displaystyle a)FutureValue=-2206.75}}$

Step 9 ：$\boxed{{\displaystyle b)FutureValue=-11274.19}}$

Step 10 ：$\boxed{{\displaystyle c)FutureValue=-5105.10}}$

Step 11 ：$\boxed{{\displaystyle d)FutureValue=-10450.00}}$