Every month you put aside $100, and every year you deposit $12,000. You have an interest rate 2.65%. You would like to know how much money you can accumulate in five years. a) What would be the difference if your deposit is at the beginning of the year, or at the end of the year? Provide the your work using the additive annual process as it is in the book (pages 23 & 26), and verify your outcome using the future value of each payment for the appropriate time period as it is given in the graph of the pages 25 and 26 using the EXCEL formula. Validate your answer using the FV EXCEL formula with the PMT argument. b) What would happen if instead of starting with zero balance you have $200,000? c) What would happen if you start with a balance of $50,000 but you withdraw $12,000 every year either at the beginning or the end of the year? Every month you put aside $100, and every year you deposit $12,000. You have an interest rate 2.65%. You would like to know how much money you can accumulate in five years. a) What would be the difference if your deposit is at the beginning of the year, or at the end of the year? Provide the your work using the additive annual process as it is in the book (pages 23 & 26), and verify your outcome using the future value of each payment for the appropriate time period as it is given in the graph of the pages 25 and 26 using the EXCEL formula. Validate your answer using the FV EXCEL formula with the PMT argument. b) What would happen if instead of starting with zero balance you have $200,000? c) What would happen if you start with a balance of $50,000 but you withdraw $12,000 every year either at the beginning or the end of the year