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Dears, I need help with a data table for the question Tyler Retirement Planning. Tyler's Retirement Planning Parameters Current Age: Planned Retirement Age Remaining years

Dears, I need help with a data table for the question Tyler Retirement Planning.

image text in transcribed Tyler's Retirement Planning Parameters Current Age: Planned Retirement Age Remaining years to save Current Annual Salary Expected Annual Percentage Increase in Salary Employee Annual Retirement Contribution Employer Annual Retirement Contribution Addt'l pre-tax retirement contributions Max. Retirement Contribution (tax-free) Current Total Retirement Savings: Annual Rate of Return Annual Rate of Return (after retirement) Estimated Annual expenses after retirement (current dollars) Income tax post retirement Inflation Rate Age at which funds will be depleted 37 65 28 145,000 2% 6% 6% $ 6,000 $ 16,000 $ 259,000 4% 3% 90,000 15% 2% Model Year Age 2016 37 2017 38 2018 39 2019 40 2020 41 2021 42 2022 43 2023 44 2024 45 2025 46 2026 47 2027 48 2028 49 2029 50 2030 51 2031 52 2032 53 2033 54 2034 55 2035 56 2036 57 2037 58 2038 59 2039 60 2040 61 2041 62 2042 63 2043 64 2044 65 Salary Tyler's Contribution Employer's Contribution Addt'l pre-tax contribution 145,000.00 8,700.00 8,700.00 6,000.00 147,900.00 8,874.00 8,874.00 6,000.00 150,858.00 9,051.48 9,051.48 6,000.00 153,875.16 9,232.51 9,232.51 6,000.00 156,952.66 9,417.16 9,417.16 6,000.00 160,091.72 9,605.50 9,605.50 6,000.00 163,293.55 9,797.61 9,797.61 6,000.00 166,559.42 9,993.57 9,993.57 6,000.00 169,890.61 10,193.44 10,193.44 6,000.00 173,288.42 10,397.31 10,397.31 6,000.00 176,754.19 10,605.25 10,605.25 6,000.00 180,289.27 10,817.36 10,817.36 6,000.00 183,895.06 11,033.70 11,033.70 6,000.00 187,572.96 11,254.38 11,254.38 6,000.00 191,324.42 11,479.47 11,479.47 6,000.00 195,150.91 11,709.05 11,709.05 6,000.00 199,053.93 11,943.24 11,943.24 6,000.00 203,035.01 12,182.10 12,182.10 6,000.00 207,095.71 12,425.74 12,425.74 6,000.00 211,237.62 12,674.26 12,674.26 6,000.00 215,462.37 12,927.74 12,927.74 6,000.00 219,771.62 13,186.30 13,186.30 6,000.00 224,167.05 13,450.02 13,450.02 6,000.00 228,650.39 13,719.02 13,719.02 6,000.00 233,223.40 13,993.40 13,993.40 6,000.00 237,887.87 14,273.27 14,273.27 6,000.00 242,645.63 14,558.74 14,558.74 6,000.00 247,498.54 14,849.91 14,849.91 6,000.00 252,448.51 15,146.91 15,146.91 6,000.00 Fund Beg. Of Year Fund End of Year 259,000.00 292,760.00 292,760.00 328,218.40 328,218.40 365,450.10 365,450.10 404,533.12 404,533.12 445,548.76 445,548.76 488,581.72 488,581.72 533,720.21 533,720.21 581,056.15 581,056.15 630,685.27 630,685.27 682,707.30 682,707.30 737,226.09 737,226.09 794,349.85 794,349.85 854,191.25 854,191.25 916,867.65 916,867.65 982,501.29 982,501.29 1,051,219.45 1,051,219.45 1,123,154.70 1,123,154.70 1,198,445.09 1,198,445.09 1,277,234.38 1,277,234.38 1,359,672.27 1,359,672.27 1,445,914.64 1,445,914.64 1,536,123.82 1,536,123.82 1,630,468.82 1,630,468.82 1,729,125.62 1,729,125.62 1,832,277.45 1,832,277.45 1,940,115.10 1,940,115.10 2,052,837.17 2,052,837.17 2,170,650.49 2,170,650.49 2,293,770.33 Year Age Spending Taxes 28 2045 66 (156,692.18) (23,503.83) 29 2046 67 (159,826.02) (23,973.90) 30 2047 68 (163,022.54) (24,453.38) 31 2048 69 (166,282.99) (24,942.45) 32 2049 70 (169,608.65) (25,441.30) 33 2050 71 (173,000.83) (25,950.12) 34 2051 72 (176,460.84) (26,469.13) 35 2052 73 (179,990.06) (26,998.51) 36 2053 74 (183,589.86) (27,538.48) 37 2054 75 (187,261.66) (28,089.25) 38 2055 76 (191,006.89) (28,651.03) 39 2056 77 (194,827.03) (29,224.05) 40 2057 78 (198,723.57) (29,808.54) 41 2058 79 (202,698.04) (30,404.71) 42 2059 80 (206,752.00) (31,012.80) 43 2060 81 (210,887.04) (31,633.06) 44 2061 82 (215,104.78) (32,265.72) 45 2062 83 (219,406.88) (32,911.03) 46 2063 84 (223,795.02) (33,569.25) 47 2064 85 (228,270.92) (34,240.64) 48 2065 86 (232,836.33) (34,925.45) 49 2066 87 (237,493.06) (35,623.96) 50 2067 88 (242,242.92) (36,336.44) 51 2068 89 (247,087.78) (37,063.17) 52 2069 90 (252,029.54) (37,804.43) 53 2070 91 (257,070.13) (38,560.52) 54 2071 92 (262,211.53) (39,331.73) 55 2072 93 (267,455.76) (40,118.36) Fund Beg. Of Year Fund End of Year Funds Out (1 = Yes) 2,293,770.33 2,182,387.43 2,182,387.43 2,064,059.13 2,064,059.13 1,938,504.98 1,938,504.98 1,805,434.69 1,805,434.69 1,664,547.77 1,664,547.77 1,515,533.26 1,515,533.26 1,358,069.29 1,358,069.29 1,191,822.80 1,191,822.80 1,016,449.14 1,016,449.14 831,591.71 831,591.71 636,881.53 636,881.53 431,936.90 431,936.90 216,362.90 216,362.90 (10,248.96) (10,248.96) (248,321.23) (248,321.23) (498,290.97) (498,290.97) (760,610.20) (760,610.20) (1,035,746.42) (1,035,746.42) (1,324,183.08) (1,324,183.08) (1,626,420.12) (1,626,420.12) (1,942,974.51) (1,942,974.51) (2,274,380.77) (2,274,380.77) (2,621,191.55) (2,621,191.55) (2,983,978.25) (2,983,978.25) (3,363,331.56) (3,363,331.56) (3,759,862.15) (3,759,862.15) (4,174,201.28) (4,174,201.28) (4,607,001.44) 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 79 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 6000 7000 8000 9000 10000 11000 12000 13000 14000 15000 16000 Retirement Planning Tyler is 37 years old and would like to establish a retirement plan. Develop a spreadsheet model that could be used to assist Tyler with retirement planning. Your model should include the following input parameters: Tyler's current age = 37 years Tyler's current total retirement savings = $259,000 Annual rate of return on retirement savings = 4 percent Tyler's current annual salary = $145,000 Tyler's expected annual percentage increase in salary = 2 percent Tyler's percentage of annual salary contributed to retirement = 6 percent Tyler's expected age of retirement = 65 Tyler's expected annual expenses after retirement (current dollars) = $90,000 Rate of return on retirement savings after retirement = 3 percent Income tax rate postretirement = 15 percent Assume that Tyler's employer contributes 6% of Tyler's salary to his retirement fund. Tyler can make an additional annual contribution to his retirement fund before taxes (tax free) up to a contribution of $16,000. Assume he contributes $6,000 per year. Also, assume an inflation rate of 2%. Managerial Report Your spreadsheet model should provide the accumulated savings at the onset of retirement as well as the age at which funds will be depleted (given assumptions on the input parameters). As a feature of your spreadsheet model, build a data table to demonstrate the sensitivity of the age at which funds will be depleted to the retirement age and additional pre-tax contributions. Similarly, consider other factors you think might be important. Develop a report for Tyler outlining the factors that will have the greatest impact on his retirement

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