For this project you will be uploading a Word document with answers to questions posed here and an Excel spreadsheet into Canvas.There is a Word document template, but no Excel template for this project.You must use cell references and Excel formulas wherever possible and write functions so that you can drag them to other rows or columns, when appropriate.

AutoSave O OFF GABOEE Z Z ED = MTH 154 Project 2 Part A Retirement - Saved to my Mac Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments Calibri (Bo... v 11 A A Aav a = v AaBbCcDdEe AaBbCcDdEe AaBbCcD AaBbCcDdE AaBb AaBbCcDdEE AaBbCcDdEe AaBbCcDdEe AaBbCcDdEe Paste BIUvab XX ADAv Normal No Spacing Heading 1 Heading 2 Title Subtitle Subtle Emph Emphasis Intense Emp... Styles Dictate Sensitivity Pane MTH 154 Project 2 Part A: Retirement For this project you will be uploading a Word document with answers to questions posed here and an Excel spreadsheet into Canvas. There is a Word document template, but no Excel template for this project. You must use cell references and Excel formulas wherever possible and write functions so that you can drag them to other rows or columns, when appropriate. Retirement: How much will you have in retirement if you save $10,000 over five years at different points in your career? Follow the directions below to answer this question. a) Start a worksheet in Excel and label it "Retirement". We are going to track the investments of three people who use the stock market as a way to save for retirement during their 40-year career. We will assume a 7% return per year. Each will save $10,000, but Doug invests at the beginning of his career, Mary invests in the middle of her career, and Wayne invests at the end of his career. First, create a chart for Doug's investment. b) Label the first five rows: "Years", "Deposit", "Interest Rate", "Annual Interest", and "New Amount". A B D G H 1 Years 1 2 3 4 5 6 2 Deposit $ 2,000.00 $ 2,000.00 $ 2,000.00 $ 2,000.00 $ 2,000.00 3 Interest Rate 7% 7% 7% 7% 7% 7% 7% 4 Annual Interest $ 140.00 $ 289.80 $ 450.09 $ 621.59 $ 805.10 $ 861.46 $ 921.76 5 Total Amount $2,140.00 $4,429.80 $6,879.89 $9,501.48 $12,306.58 $13,168.04 $14,089.81 c) Next to the label, "Years", type the numbers 1 through 40. Hint: If you type a couple numbers, highlight them, and then drag, it will follow the pattern and fill in the rest of the numbers for you. d) Next to the label, "Deposit", type $2000 under years one through five. This is our $10,000 investment. The rest of the years will be blank on the deposit row indicating that no more deposits were made. The money will stay in the account and continue to earn interest. e) Next to the label "Interest Rate", type 7% and fill it across. f) Next to the label "Annual Interest", type a formula which figures the interest earned in the first year. Assume that the deposit was made at the beginning of the year, so it will earn interest. Now type a slightly different formula to figure the interest for year 2 and drag it across for the rest of the years. g) Next to the label "New Amount", type a formula which figures the new amount in the account after the interest has been added to the deposit for the first year. Then type a slightly different formula to figure the new amount in the account for year 2 which includes the new deposit, new interest, and the amount from Page 1 of 1 628 words English (United States) Focus 161%MTH 154 Project 2 Part A Retirement Home Insert Draw Design Layout References Mailings Review View 9 Tell me .5 share DComments in V X CalibIHBO-u " 1" " AA AV Aa" AthCchEe AthCchEe AaBchD Aaabccpdg AaBb AaBchDdR AanCcDilEe AanCchEe AoBbCLDdEE I V \\ V [I3 > d Paste v I v ., v Normal No Spacing Headingl Heading 2 Title Subtitle Subtle Emnh... Emphasis inunss Emp... Styles Dictate Sensitivity sswuawiwa V i l i .3 i i i i 1' i i i i i .5 i i i i i 5 . i i i 7 i d. i i ' 2 S 2,000.00 $ 2,000.00 S 2,000.00 8 2,000.00 5 2,000.00 3 Interest Rate 7% 7% 7% 7% 7% 7% 7% 4 Annuallnterest $ 140.00 5 289.80 $ 450.09 $ 621.59 S 805.10 5 861.46 3 921.76 5 TotalAmount $2,140.00 $4,429.80 $5,879.89 $9,501.48 $12,306.58 $13,163.04 $14,089.81 c) Next to the label, \"Years", type the numbers 1 through 40. Hint: If you type a couple numbers, highlight , them, and then drag, it will follow the pattern and ll in the rest of the numbers for you. . d) Next to the label, \"Deposit\