Please solve in excel and show the spreadsheets; I would like to know how each of the formulas are input into excel.

A recent college grad is trying to decide whether he should keep his presently owned car or pur- chase a new one. A new car will cost $26,000 and have annual operation and maintenance costs of $1200 per year with an $8000 salvage value in 5 years, which is its economic service life. The presently owned car has a resale value now of $5000; 1 year from now it will be $3000, 2 years from now $2500, and 3 years from now $2200. Its operating cost is expected to be $1900 this year, with costs increasing presently owned car will definitely not be kept longer than 3 more years. Assuming used cars like the one presently owned will always be available, should the presently owned car be sold now, 1 year from now, 2 years from now, or 3 years from now? Use annual worth calculations at 10% per year. by $200 per year. The