11. Today is Tom's 45th birthday. He wants to make equal annual deposits into his pension account between now and retirement, so that he will have $3,000,000 in the account on his 65th birthday. Currently, the balance in Tom' pension account is $500,000. Assume that his first deposit will be made a year from today (on his 46th birthday) and the last deposit will be made on his 65th birthday. The annual interest rate on the account is 4.5%. Use the PMT function to determine the annual deposit that Tom needs to make to reach his goal. Hint: To determine the number of periods argument (nper) that you will use in the PMT function, you should treat the 46th birthday as the end of year 1, the 47th birthday as the end of year 2, and so forth. The 65th birthday should be treated as the end of the very last year. 12. On January 1, 2008, Ronny opened a savings account and made a deposit. Two years later (Year 2) the balance in the account was $36,000, and four years later (Year 4) the balance was $51,840. a) What is the account's annual interest rate (assume the annual interest rate remained the same throughout the four years)? b) What was the amount of Ronny's deposit on January 1, 2008? 13. The template contains a table that shows the expected cash flows of three of your assets (Assets A, B, and C). The Year 0 cash flow occurs today, the Year 1 cash flow occurs one year from today....., and the Year 7 cash flow occurs seven years from today. The appropriate discount rate for all three assets is 10%. Which of your assets is the most valuable? Hint: The most valuable asset is the one with the highest Present Value