Please solve these problems in Excel 1. Jose has $20,000 invested in a mutual fund that yields 8% return a year. How much money will Jose has in 20 years? 2. A bank promises daily compounding of interest instead of monthly compounding. How much more in interest will you earn in a year if you have $5,000 in bank saving account that has 3% interest rate? 3. Matt wants to buy a nice car. He has $5,000 in savings right now. His cream car will cost $45,000. If Matt can earn 12.5% return a year, how many years will Matt have to wait before buying his dream car? 4. Mei's grandparents opened an investment account for her when she was born, with initial deposit of $8,000. Mei is 18 years old now and her investment account has grown to $45,890. What is the annual rate of return (round up to the closest 2 decimal in percentage) on investment for Mei's investment account? 5. Luula invested in a bond fund with $20,000 for 5 years with 5% return a year. After the initial 5 years, she changed her investment into a stock fund that yield 8.9% return a year for 13 years. How much has Luula's grown to in 18 years? 6. A typical college graduate can put aside $4,500 a year into their 401 (K) plan (from employer contributions and matching funds). If an average college graduate works for 43 years and can earn 9.5% return on their investments in their 401 (K) plans, how much will a typical college graduate have in retirement funds by the time they can retire? 7. Investment companies conduct surveys of how much money most workers have in their retirement plans each year. The latest figure shows that a typical worker close to retirement age has about $300,000 in their 401 (K) plan. If they can live for another 30 years after retirement, and with typical retirement investment earning returns of 5%, how much money can they take out each year