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can you please help solve this using excel formulas? 1. Calculate the amount of money you will need the first year of retirement: 2. Calculation
can you please help solve this using excel formulas?
1. Calculate the amount of money you will need the first year of retirement: 2. Calculation the amount you will need the day you retire if you want the amount you calculated in part 1 paid out annually from the day you retire until the last date you want to recelve retirement income and you want to leave nothing to your heirs. Assume the rate of return you will receive during this period is 2% less than the investment rate you chose above (people generally invest a little bit more conservatively during retirement). 4. Using your answer to part 3, find the equal annual amount you would need to save every year from the age you input as now until the date you retire to reach the amount in answer 3 , use the investment rate you chose above. 5. Now let's assume you are 10 years into saving for your retirement, so 10 years older than what you chose as your age now and assume you earned 2% less than expected on your investments and you ended up putting away only half as much as you assumed above. Now calculate the equal annual amount you would need to save every year to still save to the amount in part 3 , assuming you can now earned the assumed investment rate. 6. Assume that the amount you calculate in part 3 is too much for you to possibly save, suggests so ethical options. 1. Calculate the amount of money you will need the first year of retirement: 2. Calculation the amount you will need the day you retire if you want the amount you calculated in part 1 paid out annually from the day you retire until the last date you want to recelve retirement income and you want to leave nothing to your heirs. Assume the rate of return you will receive during this period is 2% less than the investment rate you chose above (people generally invest a little bit more conservatively during retirement). 4. Using your answer to part 3, find the equal annual amount you would need to save every year from the age you input as now until the date you retire to reach the amount in answer 3 , use the investment rate you chose above. 5. Now let's assume you are 10 years into saving for your retirement, so 10 years older than what you chose as your age now and assume you earned 2% less than expected on your investments and you ended up putting away only half as much as you assumed above. Now calculate the equal annual amount you would need to save every year to still save to the amount in part 3 , assuming you can now earned the assumed investment rate. 6. Assume that the amount you calculate in part 3 is too much for you to possibly save, suggests so ethical options Step by Step Solution
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