calculate the following using the appropriate functions in Excel.1 1. A couple plans to set aside $20,000 per year in a conservative portfolio projected to earn 7% a year. If they make their first savings contribution one year from now, how much will they have at the end of 20 years? 2. Karl is saving for an Australian vacation in 3 years. He estimates he will need $5,000 to cover his airfare and expenses for a week. If he invests in a fund that is expected to earn an average annual return of 10.3% over the next 3 years, how much will he have to save at the end of every year to reach his goal?