Show the formulas by using excel. Show your work. I give thumbs up!

2 Questions x 3 points each = 6 points 1. 4.80% XYZ Warehouse is offering a piece of furniture for $ 34,200 and the credit terms are 8 years at an annual interest rate of If you purchase the furniture on credit and make each payment every six months , how much will you have to pay each term? Answer: 5. $3,400 at the beginning of each month for 12 years. Betty will earn is an annual Starting today, Betty is planning to invest How much money would the investment be worth today? 3.40% return on her investment, compounded monthly