please answer all of the questions using excel fromulas, following the requirements below. Thank you!

Problem 4-25 You are trying to decide how much to save for retirement. Assume you plan to save $5,000 per year with the first investment made one year from now. You think you can cam 10% per year on your investments and you plan to retire in 43 years, immediately after making your last $5,000 investment. Complete the steps below using cell references to giver data or previous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. a. How much will you have in your retirement account on the day you retire? b. If, instead of investing $5,000 per year, you wanted to make one lump-sum investment today for your retirement that will result in the same retirement saving, how much would that lump sum need to be? 6 e. 8 If you hope to live for 20 years in retirement, how much can you withdraw every year in retirement (starting one year after retirement) so that you will just exhaust your savings with the 20th withdrawal (assume your savings will continue to cam 10% in retirement)? d. If, instead, you decide to withdraw $300,000 per year in retirement (again with the first withdrawal one year after retiring), how many years will it take until you exhaust your savings? Assuming the most you can afford to save is $1,000 per year, but you want to retire with $1 million in your investment account, how high of a retum do you need to earn on your investments? Annual saving 5,000 Interest rate 10% Years to retirement e. 9 10 11 $ 43 12 13 14 15 16 17 18 1. How much will you have in your retirement account on the day you retire? Future value b. If, instead of investing $5,000 per year, you wanted to make one lump-sum investment today for your retirement that will result in the same retirement saving, how much would that lump sum nood to be? 19 20 21 Lump-sum investment | c If you hope to live for 20 years in retirement, how much can you withdraw every year in retirement (starting one year after retirement) so that you will just exhaust your savings with the 20th withdrawal (assume your savings will continue to earn 10% in retirement)? Years of withdrawal 20 Annual withdrawal d. If, instead, you decide to withdraw $300,000 per year in retirement (again with the first withdrawal one year after retiring), how many years will it take until you exhaust your savings? 0 300,000 Annual withdrawal Number of periods 26 917 18 19 10 51 Assuming the most you can afford to save is $1,000 per year, but you want to retire with $1 million in your investment account, how high of a retum do you need to car on your investments? Annual saving 1,000 Future value 1,000,000 $ S Rate of return 42 43 Requirements In cell D17, by using cell references, calculate the future value of the yearly savings on the day you retire (1 pt). Note: The output of the expression or function you typed in this cell is expected as a positive number 2 In cell D21, by using cell references, calculate the lump-sum that you need to invest today in order to save the same amount as with the yearly savings (1 pt) Note: The output of the expression 45 or function you typed in this cell is expected as a positive number. 3 In cell D27, by using cell references, calculate the amount that you can withdraw from your retirement account every year (1 pt). In cell D33, by using cell references, calculate the number of ycars that it will take to deplete your retirement savings if you withdraw a certain amount per yeur (Ipt.). In cell D40, by using cell references, calculate the return that you need to cam on your yearly savings for a certain payment to reach your goal at retirement Note: For this particular case, only use the first four parameters of the RATE function. Assume Annual savings as a cash outflow and the Future value as an cash inflow. (1 pt). 46 4 42 5 48