Your friend is investing in a 401(k) that promises 4% annual growth. He plans on investing $160 each month for 30 years.

a) What could you type into Excel to calculate the balance in the account after 30 years?2 points

b)If the function from part a is entered correctly,Excelreturns a value of$111,047.90for the balance in the 401(k) after 30 years. How much interest is earned in the account after 30 years?3 points