Question: please use the excel functions to solve the problem. Problem 5-45 Retirement Savings (L03) A couple thinking about retirement decide to put aside $2,500 each

please use the excel functions to solve the problem.

Problem 5-45 Retirement Savings (L03) A couple thinking about retirement decide to put aside $2,500 each year in a savings plan that earns 8% interest. In 5 years they will receive a gift of $25,000 that also can be invested. a. How much money will they have accumulated 30 years from now? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Accumulated savings 454,419.91 b. If their goal is to retire with $750,000 of savings, how much extra do they need to save every year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Additional annual savings needed

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