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Hello, please help me with this questions, it needs to be done in Excel. Thanks in advance! Chapter 8: Assignment 2 [Individual Assignment: 25 Points
Hello, please help me with this questions, it needs to be done in Excel. Thanks in advance!
Chapter 8: Assignment 2 [Individual Assignment: 25 Points total] [Due on 10/5/2021] Must use Excel to solve the problems Problem 1: Using the information below. answer the following questions: Monthly Retirement Income Needed 12,000 Years until Retirement 25 Years in Retirement 30 9.00% Rate of Return before Retirement Rate of Return during Retirement 6.00% a) Using Excel develop a retirement planning worksheet and use that to answer the questions b) How much money will you need to have accumulated at the time of retirement to be able to meet your income needs during retirement using monthly payments? c) What is the monthly payment needed to accumulate the required amount for retirement? Problem 2: Prepare an amortization schedule (Table) for a five-year $100,000 loan assuming equal annual payments and an annual interest rate of 9%. (a) How much total interest is paid over the life of the loan? (b) How much interest is paid in the third year? Problem 3: Prepare an amortization schedule (Table) for a four-year $120,000 loan assuming equal quarterly payments and an annual interest rate of 8%. (a) How much total interest is paid over the life of the loan? Problem 4: What is the present value of a growing annuity with 8% annual interest rate for 5 years. The first payment occurring at the end of year for $1,000 and growing at a rate of 5% per year. Problem 5: What is the future value of a growing annuity with 9% annual interest rate for 7 years. The first payment occurring at the end of year for $1,500 and growing at a rate of 6% per year Step by Step Solution
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