After graduation, Brie accepted a job making $60,000 per year. For all parts, show your calculations or your work in Excel and explain your thinking.

1. When she was hired, Brie worked with her payroll department to automatically deduct 15% of her annual income into a retirement account. How much will she be contributing each year?
2. Payroll splits her annual contribution in half so that contributions are made at the end of every six months. Her account earns 8% compounded semi-annually. If she saves 15% of her income from age 30 to age 60, and she loves her job so much that she always turns down a raise (which keeps the contribution amount the same), how much will she have in her account at age 60?
3. How much interest did she earn in the account? What percent of her account balance is interest?
4. If Bries payroll team invested the money at the beginning of each period instead of the end, how much more money would she have in her account at age 60?

5. Bries expenses will be less in retirement, and she hopes to live on $50,000 per year. Unfortunately for Brie, her investments have lost nearly 30% of their value this year! If her investments are currently at $750,000 and her account earns 5.25% compounded annually, will she have enough saved to take out $50,000 per year for the next 35 years? Remember, show your calculations or your work in Excel and explain your thinking!

6. To be safe (and comfortable) in retirement, Brie decides she wants her account value to reach $1,500,000 by age 60. How much should she contribute at the end of each period to reach her goal? Use the 8% earnings rate that is compounded semi-annually from age 30 to age 60.