MAY YOU PLEASE PROVIDE AN ANSWER IN EXCEL FORMULA?

Steve has a son who turned five years old today. Steve wants to give his son a gift on his ${22}^{nd}$

birthday $($seventeen years from today$)$ that will pay for rent on an apartment in London,

England for $5$ years. He expects the rental price to be $$50,000$ for the first year $($due at the end

of the year$)$ and grow at $3\%$ each year afterward. The discount rate is $5\%.[$Total $14$ Points$]$

a$.$ How much money does Steve need to give his son on his ${18}^{th}$ birthday? $[4$ points$]$

b$.$ If Steve wants to invest the same amount of money into an account at the beginning of

each year $($starting today$)$ for the next seventeen years, how much must he invest each

year? The account earns $5\%$ each year. $[4$ points$]$

c$.$ Steve is not sure when he will be able to start investing money. Create a vertical data

table listing the yearly investment amount needed for the number of investment years

between $12$ and $22$ in $1-$year increments. $[3$ points$]$

d$.$ Create a two$-$dimensional table giving the investment amount needed for different

number of investment years and growth rates for rental prices. The vertical dimension

should be investment years between $12$ and $22$ in $1-$year increments. The horizontal

dimension should be rental growth rates between $-2\%$ and $8\%$ in increments of $1\%.[3$

points$]$