Janet Stein wants to buy a food truck when she graduates from college in two years. She has the following sources of money:

1. She has $6000 in the bank in an account paying 8% compounded quarterly.
2. She will receive $3000 in one year from a trust.
3. She will take a business loan out at the time of purchase on which she will make monthly payments of $500 at 18% compounded monthly over 4 years.
4. Janet's uncle is going to give $1,600 a quarter starting today for one year. In addition, Janet will save up money in a credit union through monthly payroll deductions at her part time job. The credit union pays 10% compounded monthly.

If the truck is expected to cost $40,000, how much must she save each month?

1. Janet's uncle would like a detailed plan outlining the amount of money she will have saved each year. As Janet's finance advisor, she is asking you to help her calculate the amount of money she will have over the next two years and explain to her uncle how utilizing the present value future value concepts, along with planning, will assist Janet in her food truck buying decision.
2. Report your annual calculations using Excel and memo to her uncle detailing the analysis component.