You need to accumulate $10,000. To do so, you plan to make deposits of $1,250 per year, with the first payment being made a year from today, in a bank account which pays 12 percent annual interest. Your last deposit will be less than $1,250 if less is needed to round out to 10,000. How many years will it take you to reach your $10,000 goal, and how large will the last deposit be? It will take 6 years to reach to $10,000 and the last deposit will be $1,106.25.

The answer is: It will take 6 years to reach to $10,000 and the last deposit will be $1,106.25. But I need help in placing in Excel formula