For Excel, I would appreciate an explanation of how you made the formula and or provide a screenshot/ copy paste the data from it. Thank you

2. Savings Consider a model of savings where no withdrawal is made during the period of analysis. The initial deposit is $500, and in every subsequent period an additional deposit of $100 is made. Given a compound annual interest of ten percent: a. Numerically compute savings starting from time n=1, and based on the calculations describe the trajectory of savings (for example, is it increasing at a constant rate?). b. Use a difference equation to describe how savings change over time, and show that the simplified general solution is: Sn=(1.1n1,500)1,000, where Sn is the stock of savings at time n. 1 c. Plot savings over 100 periods in an Excel spreadsheet. Comment on the shape of the trend line (is it linear?), and explain why savings will never reach equilibrium in such a model. Attach the Excel plot