Use Microsoft Excel and complete the following 5 questions. You must reference your cells as well as type the formulas correctly. Please follow the PV, FV, PMT, R, N, B/E format as taught in class.

1. Sarah wants to buy a car. She can only afford a $350 car payment. She is given a financing option from Money Financial, Inc. which will allow him to repay the loan over 4 years. The interest rate is 4.3%. Can Sarah purchase the car if the financing amount is $16,000? If not, how much can she afford to finance?

2. Dr. Pickens wants to buy a burger chain. He currently has $20,000. He needs to have $120,000 in 7 years. He can earn 12% compounded annually. If he saves money at the beginning of the month, how much must he save per month to meet his goal?

3. TACO Corporations stock is currently valued at $70 per share. You own 5 shares of the stock. It is expected to grow by 8% per year. How much will TACO Corporation be worth in 8 years?

4. Leslie Knope has no money after getting canned (fired) from her job as parks and recreation employee. She wants to have $3,000,000 in 30 years. How much would she need to steal and invest today assuming she can rob a bank and earn 12% compound annually. She will not add additional payments. She wants to know the lump sum needed to invest today.

5. Bud Jett (get itlike budget) has two options for an investment.

a. OPTION 1 Invest $2,000 per month for 20 years at the beginning of each year and earn 7.5% annually.

b. OPTION 2 Invest $2,000 per month for 20 years at the end of each year and earn 8% annually.

Calculate both options and select which investment is better for our financial cartoon friend: Bud Jett.