PLEASE SHOW THE PROCESS IN EXCEL

You are planning ahead for anticipated tuition expenses for your three children (all in college at once) over the next 5 years.

You estimate the annual higher education price index rate to be 8%, and your expected tuition expenses will increase at that rate. Your personal time value of money is 4%.

Current (end of year 0) tuition expenses are $27,700 per child, per year. Assume that expenses are end-of-year payments. Determine the actual dollar amounts for tuition for end of years 1 through 5 Determine the constant dollar amounts for tuition for end of years 1 through 5