PLEASE USE EXCEL TO ANSWER QUESTIONS!

1. You were given a $1500 check for helping your uncle repair his porch last month and have decided to invest it in an S\&P index fund. Historically the fund has generated a 7.62% annual return. How much will you have in 5 years if you invest in this fund? 2. You've decided that you would like to go to graduate school in 5 years and earn an MBA in finance since Dr. Ola is so cool. You want to be like him. If school costs $10,000, how much do you need to set aside today if you can earn 8.50% on your money? 3. You've saved money from your summer job and have accumulated $3250. You'd like to have $5000 in the account two years from now. What rate of return do you need to earn to reach this goal? 4. You'd like to have $5000 for a down payment on a new car 3 years from now. If you can make 5.5% annually, how much do you need to set aside today? 5. You've decided to buy a house 4 years from now and need $5000 as a down payment. If you can make 5.25% on your money, how much do you need to set aside annually to reach your goal? 6. Despite Dr. Ola's suggestion, you played the lottery and won $2,500,000. You've decided that work is for losers so you've moved to an island where you plan on starting a reggae band and enjoying the sunshine for the next 50 years. If you can make 4.5% annually on your money, how much of an annual payment can you take before you run out of money