Apply in excel spreadsheet and please provide the functions for the spreadsheet with cell functions for Question #6 ?

6.

You value education and you want your kids to receive the best possible education. Butsending kids to private schools and Ivy League colleges is not cheap. You want to start savingmoney so that when you kids need the money, you can support them. The current assumption is youwant to have kids in 5 years and you wish to have $200,000 in todays dollars when they are 15 yearsold. Based on current situation, you expect inflation to be stable at 1.5% in the foreseeable future.Your plan is to put down savings each year and you can save every year an amount thats 2% morethan the previous year. All your savings go to a stock fund that is expected to return 10% annually,of which 1% will be dividends and 9% will be capital gains. You pay income taxes at 15% ondividend incomes as you receive them at the end of each year. You re-balance your fund every year,meaning you sell all your positions and re-invest at the beginning of a new year, so capital gains arealso realized every single year and you pay 15% tax on capital gains as well. In order to have enoughmoney for your kids education, how much money do you have to save in the first year?