please complete and show work in an excel sheet. do transfer the financial data to the spreadsheet.

5. To pay for your child's education, you wish to deposit an equal amount of $500 into the bank at the end of each month for the next 15 years. If the bank is willing to pay an annual interest of 6% which is to be compounded monthly, how much will you have accumulated at the end of 15 years? 6. Mr. Bill S. Preston purchased a new house for $80,000. He paid $20,000 down and agreed to pay the rest over the next 25 years in equal monthly payments that include principal payments plus 9% annual compound interest on the unpaid balance. What will these equal monthly payments be