Part B: New Location

1. Rhonda has found a location for the next store she plans to open. The store front will require $30,000 in renovations before it is ready to open. She would like the initial investment to be paid off in 5 years. Assuming a discount rate of 4.5%, what will her annual profits for the store need to be if she wishes to recover the $30,000 in 5 years (assuming equal profits each year)?
2. What if the discount rate increased to 7.75%? What would her annual profits need to be to recover the $30,000 in 5 years?
3. I need to know how to program my excel spreadsheet to show these calculations for both.