3 3 ATRAN222222222 16 7 88,804.14 78,880.41 < 3,552.17 * 239,553.58 13,693.08 * 253,246.66 *91,468.27*9,146.83 * 3,658.73 266,052.21 15,239.98 * 281,292.19 18 94,212.32 9,421.23 * 3,768.49 19 *97,038.68 9,703.87 20 *99,949.85 9,994.98 21 23 24 25 26 27 28 29 30 102,948.34 10,294.83 106,036.79 10,603.68 109,217.89 * 10,921.79 112,494.43 * 11,249.44 115,869.26 11,586.93 119,345.34* 11,934.53 122,925.70 12,292.57 126,613.47 12,661.35 130,411.88 13,041.19 134,324.23 13,432.42 * 3,881.55 * 3,997.99 * 4,117.93 * 4,241.47 * 4,368.72 * 4,499.78 294,481.91 16,900.12 324,967.45 18,680.84 311,382.04 343,648.29 * 4,634.77 * 4,773.81 * 4,917.03 * 5,064.54 * 5,216.48 * 5,372.97 357,641.27 20,589.91 392,643.94 22,635.59 415,279.53 430,124.68 24,826.64 454,951.32 *470,241.83 27,172.38 497,414.21 513,163.43 29,682.68 542,846.11 *559,067.81 32,368.00 591,435.80 *608,144.15 35,239.47 643,383.62 660,593.22 38,308.89 698,902.11 *716,627.99 41,588.76 758,216.76 *776,474.42 45,092.38 821,566.80 840,372.20 48,833.82 889,206.01 378,231.17 3 - 2 : Retirement Calculator Starting Salary: 57,000.00 Salary Increase Rate: 3% Saving Rate: 10% Company Match: 4% Return Rate: 5.7% Year Salary Contributior Company Match Principal Returns Ending Balance 0 1 57,000.00 : 2 3 5,700.00 58,710.00 * 5,871.00 60,471.30 6,047.13 * 2,280.00 * 2,348.40 * 2,418.85 4 62,285.446,228.54 * 2,491.42 5 64,154.00*6,415.40 * 2,566.16 - 6 66,078.62 6,607.86 7 68,060.98*6,806.10 * 2,643.14 *2,722.44 8 9 10 2 1235678 11 78,901.33 81,268.37 14 83,706.42 70,102.81 7,010.28 72,205.89 7,220.59 74,372.07 7,437.21 76,603.23 7,660.32 7,890.13 8,126.84 8,370.64 * 2,804.11 * 2,888.24 * 7,980.00 212.95 * 16,412.35 *701.32 25,579.65 1,232.70 35,532.30 1,810.04 46,323.90 2,436.49 58,011.403,115.39 70,655.32 3,850.30 84,320.02 4,644.99 *99,073.84 5,503.48 * 26,812.34 * 37,342.34 * 48,760.39 *61,126.79 *74,505.63 * 88,965.01 104,577.32 *8,192.95 0 * 17,113.66 * 2,974.88 114,989.41 6,430.03 121,419.44 * 3,064.13 * 3,156.05 132,143.89 150,619.25 8,505.72 7,429.17 139,573.07 159,124.97 * 3,250.73 * 3,348.26 86,217.61 8,621.76 * 3,448.70 88,804.14 *8,880.41 * 3,552.17 *91,468.27 9,146.83 94,212.32 9,421.23 * 3,658.73 * 3,768.49 *170,502.549,664.78 191,886.22 10,911.79 *214,868.48 12,252.52 227,121.00 239,553.58 13,693.08 253,246.66 266,052.21 15,239.98 281,292.19 294,481.91 16,900.12 311,382.04 180,167.33 202,798.02 c. Which scenario generates the second highest retirement savings at the end of 30 years? What is the amount? Note: Round "Amount" to 2 decimal places. Answer is complete but not entirely correct. Scenario generates 2nd highest retirement savings Amount Scenario 4 $ 136,166.00 x d. For Scenario 4, if Claire would like to have $1 million at the end of 30 years, what would her saving rate need to be? How about at the end of 20 years? Note: Round your answers to 2 decimal places. Answer is complete but not entirely correct. Savings rate at end of 30 years Savings rate at end of 20 years 75.96 % 83.36 % b. Which scenario generates the lowest retirement savings at the end of 20 years? What is the amount? Note: Round "Amount" to 2 decimal places. Answer is complete but not entirely correct. Scenario generates the lowest retirement savings Amount Scenario 2 $ 86,363.00 c. Which scenario generates the second highest retirement savings at the end of 30 years? What is the amount? Note: Round "Amount" to 2 decimal places. Answer is complete but not entirely correct. Scenario generates 2nd highest retirement savings Amount Scenario 4 $ 136,166.00 x Jannaria CLIL BL $1 million at the and ad to ba? | la.. ahmad m Using the accompanying Retirement_Calculator spreadsheet model, Claire wants to use Scenario Manager to compare the following retirement saving scenarios: Click here for the Excel Data File Scenario 1 Starting salary $ 57,000 Increase rate Saving rate Return rate 2% 15% 7% 2 $ 72,000 2% 10% 7% 3 $ 70,000 3% 4 $ 74,000 3% 15% 10% 7% 7% a. Which scenario generates the highest retirement savings at the end of 10 years? What is the amount? Note: Round "Amount" to 2 decimal places. Answer is complete but not entirely correct. Scenario generates the highest retirement savings Amount Scenario 3 $ 101,825.00 X b. Which scenario generates the lowest retirement savings at the end of 20 years? What is the amount? Note: Round "Amount" to 2 decimal places.