CAN YOU SHOW WORK ON EXCEL SHEET FOR THESE PROBLEMS

1- Mr. Heffernans net annual income is:

85000-12837.50

85,000-74,901)* 25% + (74,900-18,451)x15%+(18,450*10%=72,163

2- Mr. Heffernans net Monthly income is:

72,163/12 =6,013.58

3. The Heffernans total monthly income is:

Mr. Heffernan=6,013.58

Mrs. Heffernan = $2,000

6,013.58+$2,000= 8,013.58

7- Mr. Heffernan wants to save for his retirement. He is thinking of saving $1,250 a month in a 401K account that pays an annual rate of 3.5%. How much will he have in his retirement account when he turns 65?

# of years = 65-35=30

A=1250*[(1+0.035/12)^360-1]/[0.035/12]

=1250* 1.8533/0.0029167

=794262

What is the residual income that is available to Mr. Heffernan after satisfying the needs for his financial plan?

8,013.54-3,465.61= 4,547.93