just the formulas and explanation, Im very confused

You will be turning this project using excel spreadsheets. Suppose Swoop receives an inheritance of $35,000. He has the following options of what to do with the moncy. - Option A: Put all of the money in a long-tem account with a 5.75% annual interest rate, compounded monthly. - Option B: Pay off his school debt ($16,000). Swoop would then set aside $200 every month into a retirement account. The account he has in mind has a 7% annual interest rate, compounded monthly. Set up a spreadshect with formulas to compute the amount in cach account at the end of each year from Year 1 to Year 30. Your spreadsheet should have at least 3 columns (probably more), and one of the columns should clearly mark the time in years. For example, your spreadshect may look like: After you have completed the spreadshect, explain to Swoop your findings. Tell him what option is better for which time period (include specific dollar amounts) and include answers to the questions he has. 1. For how many years does Option A have more money in it, and what are the balances in each account at the end of that time period? 2. How much difference is there in the accounts at the end of 30 years? What are the balances at that rimc? 3. What would your final recommendation be after looking at all the values and taking into consideration all the information? Be descriptive and concise. Turn In Instructions: You can answer the questions in the excel document or a separate word/pdf sheet. Just make sure if you do so in a separate document to turn that in as well. This will be turned in and added in as a "quiz" in hopes to boost your grades. (As opposed to a HW)