answers: These are the answers, but I don't know how to get them. Please show how using FV, PMT, equations from excel.

a. 8599.57

b. 4441.60

c. 128993.51

d. 66623.97

e. 62369.54

f. 68868.62

You are borrowing $40,000 to pay for your college tuition. You are interested in a deferred payment loan, one where you wouldn't have to start annual payments until the year after you graduate. Yo 15 years of annual payments would begin after your $40,000 loan accrues interest during your 4 years at school. You go to the first bank you see, Discover and they are charging 11.2% annual interest on their private student loans. After taking this class, you decide to shop around for a lower interest rate and find federal student loan rate of 4.5% annually. If you borrow $40,000 before beginning school, but don't begin making annual payments until after year 4, 5) a) What is your annual payment for the private student loan? b) What is your annual payment for the federal student loan? c) How much do you pay in total over the life of the private student loan at Discover, in terms of total cash outflow? (What is the sum of all all 15 checks written to Discover? d) How much is your total cash outflow for the life of the federal student loan? e) How much out of pocket cash would you save over the life of the loan by taking out a federal student loan? f) If you invest the annual savings you accumulate (by opting for a federal student loan) in a savings account every year, how much would you have after 15 years that you could put toward your retirement, if the savings account offers 1.4% annual interest? Beginning Balance for 15 years of payments -P* (1+iAn 4 6 Year 0 17 18 10