Drederick Tatum promised himself to save at the beginning of each period. His goal is to save $7,500 for a down payment on a new car. Given an annual interest rate of 8.5% (compounded periodically), how many years will it take him to reach his goal if he: a) Makes a $125 payment monthly? b) Makes a $400 payment quarterly? c) Makes a $1,500 payment annually? Which option will allow him to reach his goal the fastest?

I have to enter the problem into an excel spreadsheet like this one:

Relevant Information
Annual Interest Rate
Periods Per Year
Number of Years
Needed Information
Present Value					PV
Future Value					FV
Payment					PMT
Rate					RATE
Number of Periods					NPER
Additional Calculations (if needed)
Answer: