$1.$ Isaac and Faith both want to have $$5,000$ in three years. Isaac expects to earn $8\%$ per year on his investments and Faith expects a $7\%$ per year rate of return. Which one of the following statements is correct concerning the amount of money they each need to invest today? Please show in excel formula and steps.

A$)$ Isaac needs to deposit $$3,699\mathrm{.}60$ today.

B$)$ Faith needs to deposit $$3,081\mathrm{.}49$ today.

C$)$ Both Faith and Isaac should deposit $$3,969\mathrm{.}16$ today.

D$)$ Faith needs to deposit $$112\mathrm{.}33$ more than Isaac today.

E$)$ Faith needs to deposit $$173\mathrm{.}33$ more than Isaac today.