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Please make sure my answers are correct. 8. Ina Guarnaschelli wants to...

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Accounting

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imagePlease make sure my answers are correct.
8. Ina Guarnaschelli wants to install a pool with a changing cabana and an outdoor entertainment center at her home. A contractor estimated that the entire project would cost $85,000 to complete currently. Ina believes that she can save enough over five years so that she will only need to borrow 50% of the project's price. a. Ina expects the cost of the project to increase by 2.5% per year over the five years, what will be the total estimated cost of the project in five years? I/Y PV PMT FV MODE 5 0.025 85,000 Excel Formula (0.025,5, 0,5000,0 Your Answer 961169.70 CPT END b. How much will Ina need to deposit at the end of each month into an investment account that offers 7.2% compounded monthly to cover 50% of the estimated cost of the project in five years? FV MODE I/Y PV PMT 0 0.00% 48,0 84.35 CPT ENID Excel Formulat(0.006, 60, 48084 85) 0) | Your Answer | 956.68

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