You just had a child! You anticipate that your child will be attending a $4-$year college at the ageof $18.$ You will be expected to write a check for tuition at the start of each of the $4$ years while your child is in college. If college tuition is $35,000$ and is expected to grow at the average inflation rate of $2\%.$

A$.$ How much will you spend on tuition each of the $4$ years?

B$.$ How much will you need set aside today in order to meet the yearly tuition

obligation. Assume that you can invest it and earn $6\%$ per year.

C$.$ If you invest your money today in a riskier financial asset, which can earn $11\%,$

how much will you have to set aside today?

Please show your work on Excel

Use the following formulas for TVM calculations

FV$($rate$,$nper,pmt$,$pv$)$

PV$($rate$,$nper,pmt$,$fv$)$

RATE$($nper$,$pmt$,$pv$,$fv$)$

NPER$($rate$,$pmt$,$pv$,$fv$)$