Rubix, there is no version of Excel that will run on an 8088/8086. I've tried to install v 2.0 of Excel (it needs Windows to install) and it just hangs with the floppy drive light on and the hourglass in Windows showing. I had to reboot the computer.
The first version of Excel (v 1.0) was released only for the MAC, version 2.0 of Excel was released for the PC but it needs a minimum of a 286 CPU.
Word 1x for Windows will install on an 8088/6 but with Windows and Word running, your free RAM will be low. When I run it on an 8088 under Windows 3.0 and VGA video, I have about 67k of free RAM left with a blank page open in Word.
I have some unusual 286 motherboards which are really 'XT' class motherboards. While they do have a 286 CPU, they only have 8-bit expansion slots and 640K of RAM. Even though they have a 286 CPU, the CPU cannot be switched into standard mode. It runs in real mode all the time.
I tried installing Excel on one of those 286's under Windows 3.0, but it wouldn't install there either.