Question: Give the Excel formula to solve the problem (2 points), and then solve the problem (2 points) Such as PV(rate=0.03, nper=5, FV=1000) a. Suenette plans

Give the Excel formula to solve the problem (2 points), and then solve the problem (2 points)

Such as PV(rate=0.03, nper=5, FV=1000)

a. Suenette plans to save $600 at the end of year for the following three years. If she earns 3.4 percent on her savings, how much money will she have saved at the end of Year 3?

b. Postal Express is considering the purchase of a new sorting machine. The sales quote consists of quarterly payments of $37,200 for five years at 7.6 percent interest. What is the purchase price?

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