Do it in Excel. For Business Quantitative methods class.

Saving for retirement (30 points) Having recently graduated, Jack and Jill jus sarted working for the same company. The company has offered each of them a retirement savings plan (e.g., an Individual Retirement Annuity, sometimes called an IRA) in which for each year that they save $5000 in the retirement plan, the company will also contribute $5000 to their plan Contributions to the plan, if any, are made at the end of each year, and the money in the plan is invested in a broad index of stocks. Jill has decided to start the plan immediately-contributing $5000 at the end of each year for the next 30 years. Jack has decided postpone his starting the plan for 6 years because of his loan payments for a Tesla. Thus, Jack will make his first contribution to the plan in year 7. Use Excel to answer the following: (a) If the return each year is exactly 10%, how much will Jill have in the account at the beginning of year 31? (Submit answer via Blackboard: 5 pts) (b) If the return each year is exactly 10%, how much will Jack have in the account at the beginning of year 31? (Recall Jack only contributed for 25 years.) (Submit answer via Blackboard: 5 pts) (c) Suppose that instead the returns alternate between 30% and-10% (ie, 30% for year 1-10% for year 2, 30% for year 3,-10% for year 4, 30% for year 5, etc Observe that the average return is 10%. How much will Jill have in the account at the beginning of year 31? (Submit answer via Blackboard: 5 pts) (d) If, similar to (c), the returns alternate between 30% and-10%, how much will Jack (e) What is the difference between your answers to (a) and (b)? Also what is the (f) What is the difference between your answers to (a) and (c)? Also what is the have in the account at the beginning of year 31? (Submit answer via Blackboard: 5 pts) difference between your answers (c) and (d)? What insight does this give? (Handwrite answer: 5 pts) difference between your answers (b) and (d)? What insight does this give? (Handwrite answer: 5 pts)