6. You are planning to save $20,000 per year (beginning next year) for your retirement. You plan to work for 35 years.

a. If the interest rate is 12%, how much will you have in your account when you retire?

b. Lets redo the problem, but this time, lets assume that the average return is 12% with a standard deviation of 15%. Use a Monte Carlo simulation with 1,000 replications to find the average future value of your savings

Please demonstrate in excel and state the formulas used!