Need help with the 2nd part with the PV and PMT functions! Thank you so much, will upvote :)Suppose your birthday is January 1st, and you are now (as of 2025/01/01) at the beginning of age 25. You plan to retire at the beginning of age 65. You will make equal end-of-month deposits (choose an amount) into your retirement account throughout this period.Starting at age 65, you will begin withdrawing equal amounts (choose an amount) at the beginning of every six-month period (e.g., January 1st and July 1st) from your retirement account until the end of age 90.Assume your retirement account earns an annual return of 8%(compounded monthly)during the accumulation phase. After retirement, the investment return decreases to 5% per year (compounded semi-annually), as you adopt a more conservative strategy.Prepare an Excel model to project your retirement plan: use a month-by-month breakdown for the saving period, and a six-month interval for the retirement withdrawal period. Ignore taxes and fees.Your model must follow good Excel practices, such as placing key value drivers at the top of the spreadsheet and avoiding hard-coded numbers whenever possible.Note: Your retirement withdrawal amount determines your deposit amount. If the deposits are not sufficient to support your planned withdrawals, use the Goal Seek or Solver function in Excel to determine the appropriate deposit amount.Continuing from Q1, build a model where you use the PMT and PV functions to calculate your monthly deposit. Then, run a scenario analysis using Data Table function to check the corresponding deposit amounts if you start making deposits at age 25,26,..., up to 40. This model does not require month-by-month details. throughout this period.Starting at age 65, you will begin withdrawing equal amounts (choose an amount) at the beginning of every six-month period (e.g., January 1st and July 1st) from your retirement account until the end of age 90. conservative strategy.Prepare an Excel model to project your retirement plan: use a month-by-month breakdown for the saving period, and a six-month interval for the retirement withdrawal period. Ignore taxes and fees.Your model must follow good Excel practices, such as placing key value drivers at the top of the spreadsheet and avoiding hard-coded numbers whenever possible. Continuing from Q1, build a model where you use the PMT and PV functions to calculate your monthly deposit. Then, run a scenario analysis using Data Table function to check the corresponding deposit amounts if you start making deposits at age \(25,26,\ldots \), up to 40. This model does not require month-by-month details.