Solve the following problems and upload the Excel File.

Assume the total cost of a college education will be $$345,000$ when your child enters college in

$18$ years. You presently have $$73,000$ to invest. What annual rate of interest must you earn on

your investment to cover the cost of your child's college education?

At $6\mathrm{.}1$ percent interest, how long does it take to double your money? To quadruple it$?$

You're trying to save to buy a new $$245,000$ Ferrari. You have $$50,000$ today that can be

invested at your bank. The bank pays $4\mathrm{.}3$ percent annual interest on its accounts. How long will it

be before you have enough to buy the car?

Imprudential, Inc., has an unfunded pension liability of $$415$ million that must be paid in $20$

years. To assess the value of the firm's stock, financial analysts want to discount this liability back

to the present. If the relevant discount rate is $5\mathrm{.}2$ percent, what is the present value of this

liability?

You have just received notification that you have won the $$2$ million first prize in the Centennial

Lottery. However, the prize will be awarded on your $100$th birthday $($assuming you're around to

collect$),80$ years from now. What is the present value of your windfall if the appropriate discount

rate is $8\mathrm{.}4$ percent?

In $1895,$ the first U$.$S$.$ Open Golf Championship was held. The winner's prize money was $$150.$ In

$2016,$ the winner's check was $$1,800,000.$ What was the percentage increase per year in the

winner's check over this period? If the winner's prize increases at the same rate, what will it be in

$2040?$

solve each problem using excel formulas