The second images are the questions

In the Modeling & Problem Solving module, the second problem dealt with a client who was planning for retirement. While meeting with him to discuss his needs further he asked for you to please build a model for him so he can see what his total retirement savings would likely be given the following: His current age is 46 (He happens to have been born on January f). His current annual salary is $126,000 and he gets a 2% salary increase annually. He has decided that he wants to retire on his 65th birthday. He started this year with retirement savings of $137 ,OOO His annual contributions to his savings are 5.95% of his annual salary His employed s contributions to his savings are 7.95% of his annual salary The annual rate of return on his savin account is 7%. Assumptions: His retirement contributions show up all at once on 12/31 each year. His returns all appear at once on 12/31 each year. Salary increases take effect as of 1/1 each year, always a nice birthday present' Given the above, for this year we know (in rounded dollars): His contributions will be ($126,000 5.95%) $7,497 His employer's contributions will be ($126,000 7.95%) = $10,017 Together, the total contributions will be ($7,497 + $10,017) = $17,514 His annual return on his savings will be ($137,000 * 7%) = $9,590 His account therefore will grow by (S17,514 + $9,590) = $27,104 At the end of this year his account will have ($137,000 + $27,104) = $164,104