QUESTION 8 3 points Which of the following sets of Excel entries will correctly solve this problem: Jim paid $138,000 for an old house to renovate. He spent an average of $3,216 per quarter over the next two years as he readied the renovated house for sale. He wants to set the price of the house high enough so that he will earn an annual rate of return of 12% for his investment. Given that information, what price should Jim set on the house? ONPER=8 RATE=3.0000% PV=($138,000) PMT=($3,216) solve for FV ONPER=8 RATE=3.0000% PV=($138,000) PMT=$3,216 solve for FV ONPER=2 RATE=12.0000% PV=($138,000) PMT=($12,864) solve for FV ONPER=24 RATE=1.0000% PV=($138,000) PMT=($3,216) solve for FV QUESTION 9 5 points Cindy and Mike managed to save $314,000 in their retirement account, which earns 7.2 percent annual interest. They plan to live on this money and will begin withdrawing $6,000 per month out of the account until the money in the account is gone. How long, in months, will their money last? (Show your answer to two decimals, e.g., 12.34; fractional months are okay)