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by using Excel plz! 3. You are planning to retire in 35 years and want to have accumulated enough money to provide an annual retirement

by using Excel plz!

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3. You are planning to retire in 35 years and want to have accumulated enough money to provide an annual retirement income of $80,000 for 25 years. = = (a) Assuming the first $80,000 is paid one year after you retire, calculate the lump sum needed on the day you retire to provide this annual income for 25 years. Use annual interest rates i = 3%, 4%, 5%, 6%, 7%, 8%, 9%, and 10%. (2 marks) (b) For your answer in (a) where i = 3%, calculate the annual deposit needed for 35 years to achieve the required lump sum, assuming annual interest rates i = 3%, 4%, 5%, 6%, 7%, 8%, 9% and 10%. Assume the deposits are made at the end of each year (final deposit is made on the day you retire). Repeat for the other 7 lump sums that you calculated in (a). (3 marks) (c) For the i= 7% scenario only (the scenario where deposits earned 7% and withdrawals earned 7%), calculate the value of your savings account at the end of each year for the full 60 year period. Start with a balance of $0 at time 0, and then calculate the balance at the end of each year until time 60 (where the balance should be $0). Then graph the results. (3 + 3 = 6 marks)

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