20. The retirement planning model described in Chapter 8 (Figure 8.6) assumes that the data in rows...

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20. The retirement planning model described in Chapter 8 (Figure 8.6) assumes that the data in rows 5–8 of the spreadsheet are the same for each year of the model.

Comment on the realism of this assumption. Modify the spreadsheet to allow the annual salary increases and return on investment to change independently each year and use the information in Problem 19 to run a simulation model. Compare your results to Problem 19.

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