USE EXCEL TO SOLVE FINANCE EXCERCISE

Someone helps me with this. Thank you.

College tuition has been rising at a rate of 7% per year. Currently the average tuition of a state college is $9,500/year. Andrea’s son Trevor will begin college in 12 years. Andrea’s portfolio is making 5% annually. How much does Andrea need to have set aside today/now to pay for 4 years of college for Trevor? (Note:Tuition will continue to change annually and Andrea’s portfolio balance will continue to accrue interest while Trevor is in school. Also, tuition is due at the beginning of each year.)

By: Joe

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