1. Sarah just won a settlement with an insurance company, which entitles her to receive payments of $29,376 at the beginning of each year for the next 10 years. Her financial advisor recommended to her that she consider accepting a lump-sum payment now, using a discount rate of 3.15%. What is the amount that she should accept in this scenario?

Round the answer to two decimal places.

2. Paul wants to make a gift of $15,000 in today's dollars to his parents at the end of each of the next 20 years. If the annual rate of return is 7.3% and inflation is 2.4%, what is the value of the funds he must have in hand today to meet this need for the 20-year period?

How do you do this in excel?