Question: Please Solve Using Excel!!! You must use MS Excel and the associated Time Value of Money functions (PV, FV, PMT, etc.) to solve the following

Please Solve Using Excel!!!Please Solve Using Excel!!! You must use MS Excel and the associated

You must use MS Excel and the associated Time Value of Money functions (PV, FV, PMT, etc.) to solve the following problem. Your five-year-old daughter has just announced she would like to attend college. The College Board has reported that the average cost of tuition, room, board, and other expenses at public four-year colleges is $19,548 in 20152016 academic year. The cost has risen 3.3% over the last year. You believe that you can earn a rate of 8% on investments to meet this goal. a. If costs continue to rise at 3.3% per year, how much will it cost for the first year of tuition in 13 years? (2) b. Assuming that you plan to have enough money saved in 13 years to cover all four years of college costs, how much will you need to have accumulated by that time? (2) c. If you were to invest a lump sum today in hopes of covering your daughter's college costs, how much would you have to invest? (1) d. If you decided to invest annually instead, how much would you have to invest each year? What if you make investments monthly? (2) e. You just learned of a $10,000 inheritance and plan to invest it in your daughter's college fund. Given this new source of fund, how much will you now have to invest each year? (3)

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