If Project A is completed today, its required payment is $90,000. However, investors decided to pay off the project only at the end of year 3. The required payment for the project will increase by 4% every year
					With this in mind, the investors will deposit an investment amount to a bank account with an interest rate of 7% per year. The deposits will occur at the end of year 1, year 2, and year 3, respectively. Information about this project is shown in the figure below:
pv	$90,000
r per year if not paid off	4%
account interest rate per yr	7%
no. of yr	3
required payment 3 yrs later (fv function)
required deposit at end of each yr (pmt function)
Year	deposit at end of yr	total account balance at end of yr
1
2
3
Round your answers to two (2) decimal points. Calculate the project payment amount if it will only be paid three years later and the required deposit at the end of each year if investors were to settle this payment at the end of year 3.
State the Excel formula for Cell B14 and Cell B15.
Write down the Excel formulas for Cells B18:C20.
Suppose the investors now decided to increase the yearly deposit by a growth rate g of 3%:
Calculate the growth-adjusted rate and express it in percentage.
If the value of the growth rate (3%) is stated in Cell B5, state the Excel formula to calculate the annuity payment at the end of Year 1 (i.e., C(1 + g)).