Create a new workbook in Excel. Please include an input area and an answer area for each problem. You will have an answer for each bullet point. Formatting is up to you. Just make sure it is easy to tell where your answers are, and what equation you used in excel to get the answer.

Assume you purchased land for $150,000. Excluding any profit, what would you have to sell the land for to earn a 7 percent annual return on your investment after 5 years?

After 8 years?