Make the following assumption about a person:

Age is $40,$ retirement in $25$ years.

Salary is $100,000$; growth rate per year is $4\%.$

Interest rate is $10\%($savings grow at $10\%).$

A constant living standard is desired.

Inflation $($CPI rate$)$ is $3\%.$

Estimated years of retirement is $20.$

To maintain standard of living during retirement, one requires $80\%$ of non$-$retirement expenditure.

Calculate the stream of expenses possible with the assumed income $($Hint: the PV of salary MUST EQUAL the PV of all expenses$).$

Develop and submit a spreadsheet with clearly labeled material that is formatted to be printable on $1$ page $($clearly indicate the stream of salary, expenses during working life and expenses during retirement$).$