Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help I'll hit like... Required: With no taxes or inflation Spreadsheet 21.1), what would be your retirement annuity if you Increase the savings rate

image text in transcribedplease help I'll hit like...

Required: With no taxes or inflation Spreadsheet 21.1), what would be your retirement annuity if you Increase the savings rate by 0.8%? (Do not round intermediate calculations and round your final answer to the nearest whole dollar.) Retirement annuity SPREADSHEET 21.1 The savings plan D E 1 2 3 4 5 9 19 Retirement Years 25 Age 30 31 35 45 55 65 Total B Income Growth 0.07 Income 50.000 53,500 70,128 137,952 271,372 533,829 7,445,673 Savings Rate 0.15 Savings 7.500 8,025 10,519 20,693 40,706 80,074 1,116,851 ROR 0.06 Cumulative Savings 7,500 15,975 61,658 308,859 943,477 2,457,518 Retirement Annuity Consumption 42.500 45,475 59,608 117,259 230,666 453,755 192.244 29 39 40 1 2. 3 4 5 39 40 A Retirement Years 25 Age 30 31 65 Total B D E Income Growth Savings Rate ROR 0.07 0.15 0.06 Income Savings Cumulative Savings Consumption 50000 =B4*$C$2 =C4 =B4-C4 =B4*(1+$B$2) =B5*$C$2 =D4*(1-SD$2)-C5 =B5-C5 =B38*(1+$B$2) =B39*SC$2 =D38*(1-SDS2)+C39 =B39-C39 =SUM(B4:B39) =SUM(C4:C39) Retirement Annuity =PMT(SDS2,SA$2,-SD$39,0,0)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials of Investments

Authors: Zvi Bodie, Alex Kane, Alan Marcus

9th edition

78034698, 978-0077502287, 77502280, 978-0078034695

More Books

Students also viewed these Accounting questions