|-efficiently-nick-patterson-and-ryan-dietz-vettx/ FIN2001 Graded Assignment. Use the information below to solve all problems. Use both the traditional time value of money formulas AND the special formulas from Excel. This assignment assesses Course Objective 2 on the syllabus - Explain the concept of time valueof money and how it affects financial decsions. Assingment is due before class on... Problem 1 4 Points You need $100,000 to fund your child's college education (assume no inflation and you will need to pay it all upfront). She will be going to school in 7 years and you believe you can earn 8% on an investment. How much do you need to deposit today to have enough money for her college? Calculate regular Calculate Excel Problem 2 6 Points You are 25 years old and plan to retire at 65. You commit to making a $2,000 deposit to your account at the end of each year until retirement. How much will you have at retirement if you can earn 8%? Assume you don't start for 10 years, but deposit $3,000 each year. How much will you have at retirement (assume you still retire at 65)? What does this tell you about your investment strategy? Be specific. 4 Points Problem 3 6 Points Your grandparents will give you $25,000 as a graduation present in 2 years. You believe you can then invest it at 9% for 5 years. How much will you have at the end of the 7 years? Problem 4 8 Points You will receive an ordinary annuity payment of $3,000 each year. The rate on the annuity is 8%. How much will you have today if you received the payments for 10 years, 20 years, 30 years and forever. Problem 5 8 Points You decide to go to graduate school after working for several years. You will not be able to work during this time so you want to withdraw $3,000 each quarter for living expenses for the next 2 years. Assuming you could earn 4% on your investments, how much money will you need to day to be able to do this