Section 12 Homework: Problem 5 Previous Problem Problem List Next Problem (9 points) Ben has an opportunity to save $305 per month at an APR of 6.8% in a 401K plan through work. He plans to retire in 20 years. The income taxes are at 26% for him. (1) Use Excel's FV function to determine how much his investment will be worth when he retires based solely on his contributions. (Express your answer rounded correctly to the nearest cent! (2) How much will Ben have deposited into the account by the time he retires? (Express your answer rounded correctly to the nearest cent!) $ (3) How much interest will Ben have earned on his investment by the time he retires? Use Excel's FV function to help answer this question. (Express your answer rounded correctly to the nearest cent!) If you haven't answered the question correctly in 3 attempts, you can get a hint. Section 12 Homework: Problem 5 Previous Problem Problem List Next Problem (9 points) Ben has an opportunity to save $305 per month at an APR of 6.8% in a 401K plan through work. He plans to retire in 20 years. The income taxes are at 26% for him. (1) Use Excel's FV function to determine how much his investment will be worth when he retires based solely on his contributions. (Express your answer rounded correctly to the nearest cent! (2) How much will Ben have deposited into the account by the time he retires? (Express your answer rounded correctly to the nearest cent!) $ (3) How much interest will Ben have earned on his investment by the time he retires? Use Excel's FV function to help answer this question. (Express your answer rounded correctly to the nearest cent!) If you haven't answered the question correctly in 3 attempts, you can get a hint