Write an EXCEL formula to figure out the following:

1. How much money do I need to save every month if I want to accumulate $1000 after 5 years. I start by placing $50 in a bank account that pays 10% interest compounded daily.

2. How much money will be in a bank account after 20 years if I add $100 to it every month? The account has nothing in it to start and pays 3% compounded monthly.

3. Assuming that I know that I will contribute $40 every mopnth to a svaings account, how much money do I need to put inth eaccount on day one if I want to accumulate $40,000 in 10 years time? The account pays 3% interest compounded daily.