The business team is helping a local company create a sinking fund to finance an expansion. They are looking at some cer

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The business team is helping a local company create a sinking
fund to finance an expansion. They are looking at some certificate
of deposits (CD) and other savings options to create the fund. They
will need $75,000 at the end of month 3, $60,000 at the end of
month 4 and $120,000 at the end of month 6. The company has already
been working with local banks, and the following table outlines
their current return on various CDs.

The Business Team Is Helping A Local Company Create A Sinking Fund To Finance An Expansion They Are Looking At Some Cer 1 (17.63 KiB) Viewed 27 times

There's a savings account that would return 0.85% /month as a 1
month option. The account requires a 1 time $1,000 setup fee for
any time period. Each CD option has a min investment of
$25,000. Create an Excel model to determine
the optimum investment strategy to meet the required
payments. Please include formulas for Excel and show the
steps in and show Solver functions.
Investment A А Term (months) 2 3 2 B Return 1.81% 2.52% 3.79% 5.25% 6.44% с 4 D 5 E 6