Question: Please show the excel calculation, formula, and steps (EXCEL only): You plan to deposit $3,000 yearly for the next five years, with the first payment

Please show the excel calculation, formula, and steps (EXCEL only): You plan to deposit $3,000 yearly for the next five years, with the first payment expected to be made at the end of the 5th year. What is the present value of the payments today if the interest rate is expected to be 7% for the foreseeable future?

a) $4,090.89

b) $6,292.51

c) $8,770.15

d) $7,061.34

e) $5,434.74

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