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No need for excel handwritten answers will be enough EXCEL Question 2 (Superannuation) (3marks] Construct an EXCEL spreadsheet, which projects cash flows of a superannuation
No need for excel handwritten answers will be enough
EXCEL Question 2 (Superannuation) (3marks] Construct an EXCEL spreadsheet, which projects cash flows of a superannuation plan with yearly contributions in advance, ie. contributions are paid at the start of each year forn years, until the person retires and takes out a lump sum at retirement. Please use your spreadsheet to answer the following questions: (a) Given yearly contribution amount is $25,000 payable at the start of each year for 20 years, the Fund's earning interest rate is i = 10% per annum effective. Find the lump sum amount at the end of the 20th year. (b) Given yearly contribution amount is $X payable at the start of each year for 25 years, the Fund's earning interest rate is i = 6% per annum effective. If the target lump sum amount at the end of the 25th year is $1,000,000, what should X be? In your EXCEL spreadsheet, you are required to show the superannuation account balance at the end of each year, after interest has been accrued but before the next annual contribution is countedStep by Step Solution
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