A) Advising tucy and Ricky. Lucy and Ricky want advice from your financial advising firm. They have provided the following information. They graduated from university four years ago and they have good jobs, but neither of them has paid much attention to their finances. Lucy works for an accounting fitm and is now making $68,000 a year in her position. Ricky works in technology, got his master degree right after college, and is making $78,000 a year. They have a total of $18,000 in their checking account at their bank. Lucy in herited $26,000 from her grand-mother a year ago. She has the check in her drawer in the home office, and she has not deposited it in the bank yet. Lucy carties $5,000 on ber credit card, which charges an APR of 21%. Ficky has a credit card that charges an ADA of 19k and he carries a balante of 52,500 . They pay the minimum payment each month on their credit cards, the amount specified on the credit card statements. They purchased a condo 4 years ago, and have estimated they have 5130,000 equaty. They are considering velling their conde, and using the equity at a down payment to buy a larger home. They have qualified for one that has a purchase price of $525,000. They have pre-qualified for a 5 .vear term and 20 year amortization period, with a mortege rate of 4.2% compounded semi-annually. Lucy is premant and they would like to set aride money for their child' education. They are contidering two different scenarios: a) How much should they set aside today to have 530,00018 years from now, assuming they can earn 5% per year compeunded seminaneually on their investment b) How much should they set aside eachyear for the next 18 years starting. now, to have 580,000 in 18 years, assuming an interest rate of 4.75 compounded quarterly? 3) How long would it take to pay off their credit cards if they each were to pay $200 each month and not charge anything further on it? Thint: use the nper function divided by 12 to get the lifyears 4) For the mortgage on a new home: "Copy the loan amortization template onto the next works heet and reference the correct cells from there to answer the following questions. i) What is the bi-weedly mortgage payment amount? ii) How much interest is paid after the first 5 years? iii) How much principal is paid back after the first 5 years? Thanks to Global Financial Literacy Excellence Center (GfLEC) for this assignment material. https:/idflecion/education/ A) Advising tucy and Ricky. Lucy and Ricky want advice from your financial advising firm. They have provided the following information. They graduated from university four years ago and they have good jobs, but neither of them has paid much attention to their finances. Lucy works for an accounting fitm and is now making $68,000 a year in her position. Ricky works in technology, got his master degree right after college, and is making $78,000 a year. They have a total of $18,000 in their checking account at their bank. Lucy in herited $26,000 from her grand-mother a year ago. She has the check in her drawer in the home office, and she has not deposited it in the bank yet. Lucy carties $5,000 on ber credit card, which charges an APR of 21%. Ficky has a credit card that charges an ADA of 19k and he carries a balante of 52,500 . They pay the minimum payment each month on their credit cards, the amount specified on the credit card statements. They purchased a condo 4 years ago, and have estimated they have 5130,000 equaty. They are considering velling their conde, and using the equity at a down payment to buy a larger home. They have qualified for one that has a purchase price of $525,000. They have pre-qualified for a 5 .vear term and 20 year amortization period, with a mortege rate of 4.2% compounded semi-annually. Lucy is premant and they would like to set aride money for their child' education. They are contidering two different scenarios: a) How much should they set aside today to have 530,00018 years from now, assuming they can earn 5% per year compeunded seminaneually on their investment b) How much should they set aside eachyear for the next 18 years starting. now, to have 580,000 in 18 years, assuming an interest rate of 4.75 compounded quarterly? 3) How long would it take to pay off their credit cards if they each were to pay $200 each month and not charge anything further on it? Thint: use the nper function divided by 12 to get the lifyears 4) For the mortgage on a new home: "Copy the loan amortization template onto the next works heet and reference the correct cells from there to answer the following questions. i) What is the bi-weedly mortgage payment amount? ii) How much interest is paid after the first 5 years? iii) How much principal is paid back after the first 5 years? Thanks to Global Financial Literacy Excellence Center (GfLEC) for this assignment material. https:/idflecion/education/