4. C. Use the EFFECT function in cell B15 to convert this APR into an EAR. Use the IFERROR function in cell B14 and B15 to return the message "You never save any money!"f the worker delays saving (cell B13) for more years than there are years until retirement (cell B3). In the same cells, B14 and B15, change the cells' alignment formatting so the text shrinks to fit in the cell when/if the error message is displayed. f 113733 ad of asking how much they plan to put into savings, here we ask how much they want to be able to spend. That is, here we late the amount that should be saved each period to attain a target retirement income (B17) based on current savings, the A 1 K 2 3 4 B C D E F G H I J $10,000.00 How much money do you currently have in savings? $750.00 How much money do you plan to save each period? 30 Years until your retirement 15 Years you plan to be in retirement 4 How frequently do you save money each year? Annually (1), quarterly (4), or monthly (12 times each year)? 5.00% Expected return on your savings before retirement (this is an EAR) 6.00% Expected return on savings during retirement (this is an APR) 5 6 Problem 1 Problem 2 Problem 3 Problem 4 4.91% Expected annual return on savings before retirement (convert to an APR) $203,015.74 Amount you'll have in your account at retirement based on the savings amount in cell B2 $5,155.27 Amount you can spend each period during your retirement 13 Problem 5 14 5 Number of years you will delay before starting to save for retirement 7.09% The interest rate you would need to earn to hit the target amount in B10 if you do delay starting to save. 7.29% Convert that APR to an EAR. 15 16 $5,000.00 How much do you want to be able to spend each period during your retirement? 18 Problem 6 $332,922.98] Amount you need in your account at retirement in order to spend this target amount (cell 817) $1,229.92 Amount you need to save each period before retirement to have enough to meet your goal. 19 20 21 22. 23 24 25