Please use excel

14. You just won first place in a CUNY essay writing contest, and as your prize, you will receive $400 a month each month for the next 7 years
(NOT $4,800 per year but rather $400 per month). If you can earn 8.25% per year on your money, what is the total prize worth to you today?
15. Your oldest child needs a car and you believe you can afford no more than $360 a month for a 5-year car loan. If the interest rate on this
loan is 3.4% percent, what is the maximum you can afford to borrow to purchase this car?
16. Your employer contributes $100 a week to your retirement plan. Assume that you work for this employer for another 14 years and the
applicable discount rate is 7.25%. Given these assumptions, what is this benefit worth to you today?
17. You anticipate being able to put away $1,800 at the end of each year into your 401(k) for each of the next 25 years (NOT $1,800 once
but rather $1,800 in each year) and anticipate earning 8.5% per year on your investments. Assuming annual compounding and no distributions,
how much do you expect to have in your 401(k) account after 25 years?
18. You are borrowing $21,000 with no money down to buy a car. The terms of the loan call for equal monthly payments for 5 years at 4.25%
annual interest. What is the amount of each monthly payment?