To save for a new computer system that will be purchased two years from the present, the financial manager of Argosy Services wants to put aside monthly amounts into a bank account that pays a nominal annual rate of interest of 6%, compounded monthly. The deposits will be made at the beginning of each month, and the new computer system will cost $20,000 when it is purchased two years from the present. What should be the amount of the monthly deposits?

Suppose that instead of making deposits at the beginning of each month, the finance manager of Argosy Services makes them at the end of each month. What would be the amount of the monthly payments?

Please solve in excel