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need the excell formula 2 PARTIAL CREDIT- You must use Excel equations and functions (30 pts) Jessica is planning her retirement 35 years from now.
need the excell formula
2 PARTIAL CREDIT- You must use Excel equations and functions (30 pts) Jessica is planning her retirement 35 years from now. She plans to save an equal amount each month for the next 35 years. Her investment will earn 11.5 percent compounded monthly during the savings period. Jessica will earn 6.25 percent compounded monthly on her investment during retirement. She plans to withdraw $15,000 per month from her portfolio for 10 years and then $12,000 per month for the following 12 years. She will withdraw from this account for 22 years and have a zero balance at the end of the retirement period. How much must she save each month in order to meet her goal? Saving Period Saving Period Savings amount Rate during Savings (APR) 35 years ??? per mon 11.50% annual 22 years 6.25% Retirement Period Withdrawal Period Length Rate during Retirement Withdrawal Period 1 Withdrawal amount Withdrawal Period 2 Withdrawal amount Monthly Compounding (m) 10 years $15,000 per mon 12 years $12,000 per mon 12Step by Step Solution
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