Solve in excel using formulas.

PC-1A Alec, Daniel, William, and Stephen decide today to save for retirement Calculate the future value of Each person wants to retire by age 65 and puts $11,000 into an account earning 10% compounded annually a single amount (LO C-2) Initial Accumulated Investment by Retirement (age 65) Person Age Investment Alec Daniel 45 William 35 Stephen 25 $11,000 11,000 11,000 11,000 Required: Calculate how much each person will have accumulated by the age of 65. PC-2A Bruce is considering the purchase of a restaurant named Hard Rock Hollywood. The restaurant is listed for sale at $1,000,000. With the help of his accountant, Bruce projects the net cash flows (cash inflows less cash outflows) from the restaurant to be the following amounts over the next 10 years: Consider present value (LO C-2,c-3) Years Amount $100,000 (each year) 110,000 120,000 130,000 140,000 10 Bruce expects to sell the restaurant after 10 years for an estimated $1,300,000 Required: If Bruce wants to make at least 11% annually on his investment, should he purchase the restaurant? (Assume all cash flows occur at the end of each year.) PC-3A Holywood Tabloid needs a new state-of-the-art camera to produce its monthly magazine. The company is looking at two cameras that are both capable of doing the job and has determined the following Determine present value alternatives (LO C-2, C-3) Page C:i Camera 1 costs $6,000. It should last for eight years and have annual maintenance costs of 5300 per year. After eight years, the magazine can sell the camera for $300 Camera 2 costs $5,500. It will also last for eight years and have maintenance costs of $900 in year three, $900 in year five, and $1,000 in yesn. After eight years, the camera will have no resale value Required: Determine which camera Hollywood Tabloid should purchase. Assume that an interest rate of 9% properly reflects the discount rate in this situation and that maintenance costs are naid at the end of each year