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Excel Question Problem 1: Refer to worksheet Problem 1 (20 Marks) Joe is currently 20 years old. He wants to save some equal amount every

Excel Question

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Problem 1: Refer to worksheet "Problem 1 (20 Marks) Joe is currently 20 years old. He wants to save some equal amount every year for 45 years including the first payment now. He plans to retire at the end of age 64 (or at the beginning of age 65) and plans to withdraw $100,000 each year for next 20 years. What should be his annual savings for the 45 periods. Annual interest rate is 10% (assumption). All transactions are made at the beginning of the year

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