*Please post excel formula*

1 You're trying to save to buy a new $275,000 Ferrari. You have $50,000 today that can be invested. If you believe your mutual fund can achieve an annual rate of return of 11.2 percent and you want to buy the car in 9 years (on the day you turn 30), how much must you invest 2 today? 3 4 Input area: 5 6 Number of years 7 Interest rate 11.20% Future value $275,000 5 GO 8 9 (Use cells A6 to B8 from the given information to complete this 10 question. Your answer should be a positive value.) 11 12 Output area: 13 14 Present value 15 16 17 18 Students: The scratchpad area is for you to do any additional work you need to solve this question or ca 19 Nothing in this area will be graded, but it will be submitted with your assignment. 20 21 22 = Graded Worksheet