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The following information is to be placed into the cells shown: Current salary $100,000 A4 Money desired per year if retirement took place now $90,000
The following information is to be placed into the cells shown: Current salary $100,000 A4 Money desired per year if retirement took place now $90,000 A5 Rate of salary grouth as a decimal Q .004 for 4%539 A6 Rate of ination per year as a M 1-25 5% A? Rate of ination per year as a M 2640 4% A12 Rate ofinationperyearasaWM-s 3% A13 Interest rate as a decimal during rst 25 working years 9.5 % A8 Interest rate as a decimal during last 15 working years 8.5 % A9 Interest rate as a decimal during rst 15 retirement years 8% A10 Interest rate as a decimal during last 10 retirement years 6% All This assignment will assume that you will work for 40 M are retired for 25 years. The rst retirement withdrawal mu be at the end of year 4]. Deposits will be made at the end of each year from years 1-40. Withdrawals need to increase at the rate of ination. Part A. Determine the annual deposit required for years 1-40 if each deposit is the same. Complete the following table for years 1 through 65. xi; Beg Balance Interest Deposit 'Withdrawal Salary% Salary End Balance Part B. Determine the annual deposit required for years 1 40 if the amount deposited each year will increase at the same rate as the increase in salary. Complete a second table with the same columns as in part a
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