1) Christina decides to invest $352,480 today in a fund that will earn 3% annual interest compounded annually. How many years will it take her to earn $400,000?

2) Kenney decides to invest $40,000 today because he would like to build a guitar factory for $100,000 in 17 years. Interest is compounded annually. What annual interest rate must he receive to reach the required amount?

3) Jason needs $40,000 in six years. What amount must she invest today if her investment earns 1.2% annual interest compounded quarterly?

4) The Morgan Company plans to borrow money to purchase an office building for its headquarters. The building it has selected has a price tag of $10 million. The company will make a down payment of $2 million and take a first mortgage on the balance of $8 million. The lender agrees to provide a 25-year mortgage on the principal of $8 million at an annual interest rate of 10%, compounded monthly, with monthly payments at the end of each month. How much will Morgan pay monthly on their mortgage?

5) If the Morgan Company pays off its $8 million mortgage by monthly payments of $70,205.73 at the end of each month for 30 years, how much interest will the company pay for the last months of the mortgage?

6) 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?

7) 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?

8) On January 15, Year 5, Carr Corp. adopted a plan to accumulate funds for environmental improvements beginning July 1, Year 9, at an estimated cost of $2 million. Carr plans to make 4 equal annual deposits in a fund that will earn interest at 10% compounded annually. The first deposit was made on July 1, Year 5. Carr should make 4 annual deposits (rounded) of _____

If you could show how to work these in excel with formulas that would be great! Thanks