Sure, you can renew MS Office 365 for $130/yr. You can also install LibreOffice for free, donate $30 to the nice volunteers developing it, and still have $100 extra left over for groceries.

https://www.libreoffice.org/

Home | LibreOffice - Free and private office suite - Based on OpenOffice - Compatible with Microsoft

Free office suite – the evolution of OpenOffice. Compatible with Microsoft .doc, .docx, .xls, .xlsx, .ppt, .pptx. Updated regularly, community powered.

@cheribaker even better - you can spin up an AIO (all-in-one) instance of Nextcloud which has open office collaboration so you get office and cloud collaboration with it. For (effectively) free