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Florence has just turned 4 8 . She would like to retire at 6 7 . Starting today, [ Assume January 2 0 2 4
Florence has just turned She would like to retire at Starting today, Assume January
Florence commits to contributing per annum into her retirement fund. She expects to
be able to increase her annual contribution to her pension fund by per annum starting
next year next year her contribution will have increased by compared to today's The
expected return on the fund is per year. Starting from Florence hopes to draw down
per year for the next years in total pension payments until and included she
is years old. Assume that all payments deposits and pension payments occur at the
beginning of the year.
Part I: All questions in Part I must be answered on the same worksheet.
Create a spreadsheet that shows by year, the Jan balance, the cash flows deposit
pension payments interest on the fund, and the Dec balance. Is Florence saving
enough? Explain your answer.
Use Solver to calculate the max pension contribution available based on the post
retirement income requirement.
Provide screenshots of the solver function and paste same into your excel page
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