My student number is:$123-45-6789$ Provide your response for the following problems:Using Excel FunctionUsing Excel as CalculatorText Response$1$A financial analyst tells you that investing in stocks will allow you to triple your money in $1$# years. What annual rate of return is the analyst assuming you can earn? $2$At # percent compounded monthly, how long will it take to triple your money? $(*$See note below$)3$Cary's wonderful parents established a college savings plan for him when he was born. They deposited $###$\mathrm{.}00$ into the account on the last day of each month. The account has earned $10\%$ compounded monthly, tax$-$free. How much can they withdraw on his $18$th birthday to spend on his education? $4$Cary's wonderful parents established a college savings plan for him when he was born. They deposited $###$\mathrm{.}00$ into the account on the last day of each month. The account has earned $10\%$ compounded monthly, tax$-$free. Now he's off to State U$.$ What equal amount can they withdraw beginning today $($his $18$th birthday$)$ and each year for three additional years to spend on his education, assuming that the account now earns $7\%$ annually. $5$If you want to have $#$,$### in $29$ months, how much money must you put in a savings account today? Assume that the savings account pays $12\%$ and it is compounded monthly $($round to nearest $$1).6$Last National Bank is offering you a loan at $1$#$.$##$\%$; payments on the loan are to be made monthly. Credit Onion is offering you a loan where payments are to be made semi$-$annually; the rate on the loan is also $1$#$.$##$\%.$ Local Bank down the street is also offering a loan at $1$#$.$##$\%$ where the payments are made quarterly. Which loan is best for you? $6$A$.$ Annual cost for Last National Bank $6$B$.$ Annual cost for Credit Onion $6$C$.$ Annual cost for Local Bank $6$D$.$ Which loan is best for you? $7$If Cathy deposits $$12,$### into a bank account that pays $6\%$ interest compounded quarterly, what will the account balance be in seven years? $8$You discover an antique in your attic that you purchased at an estate sale $10$ years ago for $$400.$ You auction it on Ebay and receive $$8,000$ for your item. What annual rate of return did you earn? $9$You have just purchased a share of preferred stock for $$5$#$.$##$.$ The preferred stock pays an annual dividend of $$5\mathrm{.}50$ per share forever. What is the rate of return on your investment? $10$Congratulations! You are the proud winner of the multi$-$state Sour Ball Lottery. You are to receive $$2,$###$,$### at the end of each year for the next $20$ years. While the Lottery Commission refers to this as an over $$40$ million jackpot, if you choose the "cash option" they will give you much less than that; you can receive a lump sum payment today equal to the present value of the ordinary annuity instead of the $20$ annual payments. If the discount rate that the Lottery Commission uses to determine the lump sum payoff is $7\%,$ what is your payoff if you select the cash option? $11$A retirement plan guarantees to pay you or your estate a fixed amount for $25$ years. At the time of retirement you will have $$1$##$,$### to your credit in the plan. The plan anticipates earning $7\%$ interest annually over the period you receive benefits. How much will your annual benefits be assuming the first payment occurs one year from your retirement date? $*$Note: Only for exercise $2,$ if the last digit of your student number is equal to $0,$ then substitute with the first digit of your student number.