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 1 2 3 4 5 9 19 29 39 40 1 2 3 4 5 39 40 A Retirement Years 25 Age 30 31 35 45 55 65 Total A Retirement Years 25 Age 30 31 65 Total B Income Growth 0.07 Income 50,000 53,500 70,128 137,952 271,372 533,829 7,445,673 B Income Growth 0.07 Income Savings Rate 0.15 Savings 7,500 8,025 10,519 20,693 40,706 80,074 1,116,851 C Savings Rate 0.15 Savings 50000 =B4*$C$2 =B4*(1+SBS2) =B5*$C$2 =B38*(1+$B$2) =B39*SC$2 =SUM(B4:B39) =SUM(C4:C39) D ROR 0.06 Cumulative Savings 7,500 15,975 61,658 308,859 943,477 2,457,518 Retirement Annuity D ROR 0.06 Cumulative Savings =C4 E Consumption 42,500 45,475 59,608 117,259 230,666 453,755 192,244 E Consumption =B4-C4 =D4*(1+SDS2)+C5 -B5-C5 =D38*(1+SDS2)+C39 =B39-C39 Retirement Annuity=PMT(SDS2,SAS2,-SDS39,0,0)