Question
Create an Excel spreadsheet that projects your savings balances every year until retirement, and the income you can generate in retirement from your savings. Include
Create an Excel spreadsheet that projects your savings balances every year until retirement, and the income you can generate in retirement from your savings.
Include columns for 1. years; 2. savings balance; 3. investment returns; 4. annual new savings (investment) from your salary. Note that each year's balance equals the prior year's balance plus investment returns, plus additional savings. See below:
| Interest Rate | 5.00% | ||
| Annual Savings | 6,000.00 | ||
| Year | Balance | Returns | Annual Savings |
| 2020 | 500.00 | 25.00 | 6,000.00 |
| 2021 | 6,525.00 | 326.25 | 6,000.00 |
| 2022 | 12,851.25 | 642.56 | 6,000.00 |
| : | : | ||
| [Retirement Year] | 770,734.57 | ||
| Retirement Annuity | 50,137.39 |
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Introductory Econometrics For Finance
Authors: Chris Brooks
4th Edition
110843682X, 9781108436823
