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Please help to explain how to solve questions 7 and 8 in excel format. Here is what I have done so you can see with

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Please help to explain how to solve questions 7 and 8 in excel format. Here is what I have done so you can see with the functions. I am so lost. Thank you much again.

It's your 31st birthday today and since you recently got a job in Tesla, you want to start saving for your anticipated retirement at age 65 . You want to be able to withdraw $135,000 from your savings account on each birthday for 15 years following your retirement; the first withdrawal will be on your 66th birthday. You intend to invest in the local credit union, which offers a 7 percent APR. You want to make equal annual payments on each birthday into the account established at the credit union for the retirement fund. Questions: 7. If you start making these deposits on your 31st birthday and continue to make deposits until you are 65 (the last deposit will be on your 65th birthday), what amount must you deposit annually to be able to make the desired withdrawals at retirement? (Hint: firstly, you should find the lump sum amount you will need at age 65 based on the information of after retirement plan.) 8. Suppose you just inherited a large sum of money. Rather than making equal annual payments, you want to make one lump sum payment on your 31 st birthday to cover your retirement needs. What amount do you have to deposit

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