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Need to solve in Excel. John Wayne is 50 years old and plans to retire in 20 years. His new employer provides 401K retirement plan
Need to solve in Excel.
John Wayne is 50 years old and plans to retire in 20 years. His new employer provides 401K retirement plan and he plans to accumulate $1,000,000 in his retirement account by age of 70. Use Excel to answer the following questions. a- How much he has to contribute per year at return of 7% per year to reach his retirement goal. b- Redo part (a) if john decides to increase his contribution 0.50% per year over 20 years. C- Redo part (a) if the yearly return for the first 10 years is 7% and last 10 years is 9%Step by Step Solution
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