A multinational security software company is planning an overseas expansion that will cost $50 million of today’s dollars 3 years from now. Due to a robust economy in Europe, the cost is expected to...

A multinational security software company is planning

an overseas expansion that will cost $50 million of today’s dollars 3 years from now. Due to a robust

economy in Europe, the cost is expected to increase by

15% per year in each of the next 3 years. Assuming the

inflation rate is 4% per year, determine the required

annual deposit into a fund that earns the market rate of

10% per year to ensure that the amount needed in

3 years will be available. Also, write the spreadsheet

function that displays the annual deposit

directly.