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Please show your work in excel. Thank you so much!! I really appreciate your help! 20Assignment%20Spring%2020 16.pdl Kobe Bryant - Famo D Henderson RecallsFi Seriously

Please show your work in excel. Thank you so much!! I really appreciate your help! image text in transcribed
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20Assignment%20Spring%2020 16.pdl Kobe Bryant - Famo D Henderson RecallsFi Seriously Synonyms Kobe Bryant of Los A 3 Kobe Bryant News c O B 5. Clementine is creating a college fund for her daughter Constance's college education. Today is Constance's first birthday, Clementine expects Constance to start college at age 18 and finish in four years. Clementine plans to make 21 annual contributions to the college fund, and she plans to increase the contributions by 7% each year. The first contribution of $4,000 will be made today. The last disbursement from the college fund will be on Constance's 21st birthday, which is also the day that the last payment must be made for the last year of her college education. Clementine expects to carn an 8% annual rate of return on her contributions. Using the above information, answer the following questions A. What is the amount of Clementine's last contribution to the college fund? B. Suppose that the cost of college is currently $40,000 each year and is expected to increase at 3 percent per year for the foreseeable future. What will be the cost of attending college when Constance starts at age 18? C. What is the college fund's balance after the last disbursement from Constance's college fund? D. Given the above assumptions, what is the minimum amount that Clementine needs to contribute to the college fund today to cover the cost of Constance's college education? Show your work and answer in a new worksheet named 5D

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