Answered step by step
Verified Expert Solution
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
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 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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started