a 3.0% inflation rate (Spreadsheet 21.2)by how much would your retirement annuity you increase the savings rate by 1.1(Round your answer to 2 decimal places. )

21.2 1 2 3 A Saving m 5 B D Retirement Years Income Growth Rate Inflation Savings Rate ROR 25 07 03 15 06 Age Income Deflator Cumulative Savings 30 50,000 1.00 7,500 7,500 31 53,500 1.03 15,975 35 70,128 1.16 10,519 61,658 45 137,952 1.56 20,693 308,859 55 271,372 2.09 40.706 943,477 65 533,8291 2.81 80,074 2,457,518 Total 7.445,6731 1,116,851 Real Annuity 8,025 TROR .0291 Consumption 42,500 44,150 51.419 75,2641 110,167 161,2571 49,668 9 19 29 39 40 1 2 3 4 Retirement Years 25 Age 30 31 65 Total D Income Growth Rate of Inflation Savings Rate ROR TROR .07 .03 .15 .06 =(E2-C2V1+C2) Income Deflator Savings Cumulative Savings rConsumption 50000 1 =B4*$D$2 -D4 =(B4-D4yC4 =B4' (1+$B$2) =C4'(1+$C$2 =B5 $D$2 =E4 1+$E$2)+D5 =(B5-D5C5 =B38" (1+$B$2) =C38*(1+$C$2 =B39"$D$2 =E38*(1+$E$2)+D39 =(B39-D39)/C39 =SUM(B4:B39) =SUM(D4:D39) Real Annuity =PMT(SFS2, SAS2, SES39/SC$39,0,0) 39 40