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Please show calculation through excel 1. Your bank pays 3% interest annually. You have $2,500 invested in the bank. How long will it take for

Please show calculation through excel

1. Your bank pays 3% interest annually. You have $2,500 invested in the bank. How long will it take for your funds to double? If you invest your money in stocks through a brokerage account and earn 8% annually, how long will it take for your funds to double?

2. An uncle of yours who is about to retire wants to sell some of his stock and buy an annuity that will provide him with income of $36,000 per year for 30 years, beginning a year from today. The going rate on such annuities is 6.5%. How much would it cost him to buy such an annuity today?

3. You want to open a sushi bar 5 years from now, and you plan to save $5,000 per year, beginning immediately. You will make 5 deposits in an account that pays 6.0% interest. Under these assumptions, how much will you have 5 years from today?

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