An annuity pays a fixed amount of $3,000 at the end of each of the next 5 years. Assume the interest rate is 8%.

Use Excel, and list the time period (0, 1, 2, 3, 4, 5) and the amount $3,000. Then,

1. Use Excel function to calculate the present value of the annuity.
2. Use Excel function to calculate the future value of the annuity 5 years (enf of 5th year) from now.

Submit the Excel file with all the details of time periods, amount of payment, and the Excel functions used to calculate the answers.