Please indicate which Excel formulas were applied to reach this answer

24) Mr Venkatesh intends to start saving for his daughter's (Pooja) engineering college expenses. Pooja will begin in six years. The current annual tuition at the engineering college is $7,000 at present (time 0). Mr Venkatesh expects the tuition fees to increase at a rate of 6.0% annually due to inflation. He plans to make 9 annual investments, starting from the next year and continuing for 9 years, so that the accumulated savings will be sufficient to cover Pooja's college expenses. To ensure the savings completely cover Pooja college expenses with these 9 investments, determine the following: a) How much should Venkatesh invest annually, starting from year 1, to meet the college expenses? (Let this annual investment be denoted as \$X.) b) What will be the amount of Mr Venkatesh's annual investment at the end of 9 years (time 9)? c) Considering the time 0 purchasing power, what would be the real value of her annual investments in years 1 and 9 ? (In other words, what is the real amount of annual investments in years 1 and 9) In order to receive full marks, you will need to calculate the answers AND also show the Excel formulas which were used