Texts:
1. If you invest $150 monthly in an individual retirement account (IRA) for a decade with a monthly compound interest rate of 1%, what will be the return after ten years? Please draw the cash flow diagram and use an Excel macro to find the answer. (20 points)
2. If the interest rate drops to 0.5% per month, what will be the amount of money you need to invest every month to get the same return as in (1), but at the end of five years? Please use an Excel macro to find the answer. (15 points)