Using Excel, Create a new worksheet for each problem. You must construct a timeline for each problem in Excel. The timeline must include a column for the period, a column for the given cash flow and a column for the present value or future value. Each row represents a period. You must solve each problem two different ways. The first is using a formula (for example, PV = FV/(1+r)^t). The second is using the Excel function (for example, =PV(...)

Question: How much money must you invest today in order to withdraw the following monthly payments in retirement, $1,000 per month from Year 1 through Year 5, $750 per month from Year 6 through 10? Assume you can earn a rate of return of 8.60%.

Examples of what needed:

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