Question
Suppose that on your birthday you checked the balance on your retirement account and you decided to make a $1,000 payment at the end of
Suppose that on your birthday you checked the balance on your retirement account and you decided to make a $1,000 payment at the end of every month until you retire at the specified age. If you disreagard the inflation (i.e. we adjust payments and interest with the inflation rate) and assume a 2% annual growth rate of your retirement fund, how much money will you have at the time you retire?
You may (and should) change the display format of input and output cells. You may add column or row labels and/or range names to input and output cells. ou may add validation rules to input cells. Orange Cell - input; grey Cell - output.
Age in years: Current Balance: Annual interest rate: Monthly Payment: Retirement Age: # of monthly payments: Future Value assume today is your birthdayStep by Step Solution
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