Question: PV and FV functions in Excel please do not answer if you are not 100% sure of the answer ! :) Also, PLEASE explain HOW

PV and FV functions in Excel

please do not answer if you are not 100% sure of the answer ! :) Also, PLEASE explain HOW you got your answer. I have to show my work in Excel so explain how I get my answer in excel. ANSWER BOTH QUESTIONS PLEASE :)

1)You need to have $10,000 to pay for your wedding in 5 years. How much do you need to deposit today in a bank that pays 4% interest, compounded annually, in order to achieve your goal?

2)You obtain an installment loan to pay for graduate school in the amount of $30,000. If the lender charges you 7% interest and you are required to pay the loan off in equal annual installments over a period of 8 years, what is the amount of each installment?

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