1.Financial Calculations.Answer both parts of this question.

a)After you graduate, you plan to work for another twenty years and then retire and move to a low-cost area.You think you can save $2000 a year for the first 5 years, and $3000 a year for the next 10 years, and $5000 a year for the last 5 years.If you can earn 4% a year on your savings in a reasonably safe investment, how much will you have from these savings when you retire?

b)If you invest $1000 a year at the beginning of each year for the next twenty-five years in a broadly-based stock market fund which historically has earned 7% per year, how much will you expect have at the end of these 25 years if you believe stock market history is an excellent guide to the future?

Excel Please