I need to see this problem solved out in excel with formulas/steps visible so I am able to replicate and understand the process.

5) This is a variant of #4: Suppose you expect to rent a house when you retire in 35 years. Today, rent for a 3 bedroom, 2 bathroom home costs $3,000 per month. You expect inflation to be 0.2% per month between now and when you die and that rent will adjust every month with inflation. Assume rent is paid at the beginning of the month and that you earn a return of 6% per year with monthly compounding on savings. a) How much will rent cost in your first month of retirement if you want to rent a 3 bedroom and 2 bathroom home? b) How much will you need to have saved by the time you retire in order to pay for rent for the entire time you are retired? (Assume you expect to live for 30 years after retiring and won't save any more money in that time)