You are considering purchasing a car in $4$ years, anticipating a purchase price of $$40,000.($Note: This

question doesn$$t require a written answer, but you need to clearly indicate your answers to parts a$,$ b$,$

and c$.)$

a$.$ How much do you need to deposit in an account today, if you want to have $$40,000$ in the

account in $4$ years, assuming the account earns $5\%$ annual interest rate? $($assume annual

compounding$)$

b$.$ If you deposit $$30,000$ in the account today, what rate of interest would you need to earn

annually in order to have exactly $$40,000$ in the account in $4$ years? $($assume annual

compounding$)$

c$.$ If your account earns $0\mathrm{.}25\%$ of interest every month, and if you make an initial deposit of

$$10,000$ today, how much do you need to deposit every month in your account in order to have

exactly $$40,000$ in $4$ years? $($assume monthly compounding$)$ Do this in Excel