You can use excel.

Problem 1: (15 points) You just started a new job at a solar panel manufacturing plant. One of the processes that is completely manual is planned to be changed to an automated process in the next 3 years. You have been tasked with providing different options for paying for the machinery. The automated machine is expected to cost $300,000 at purchase in 3 years. Consider each of the 4 options below as separate scenarios and answer each question independent of the others. Option 1: Make a single lump sum payment into an investment account today that earns 12% compounded monthly and do not touch it for the remaining 3 years. How much do you need to invest as a lump sum to have enough for the automation equipment at the end of 3 years? Option 2: Make uniform payments in the investment account each month that earns 12% compounded monthly. How much must you put in the account each month for 3 years to have enough for the equipment in 3 years? Option 3: Make uniform payments in the investment account each quarter that earns 12% compounded monthly. How much must you put in the account each quarter for 3 years to have enough for the equipment in 3 years? Option 4: The company made an investment into the investment account already and the account currently has $150,000. The company will add $10,000 every 6 months (semi-annual period) for the next 3 years. How much will be in the account at the end of 3 years? How much more will be needed to pay for the equipment