This is a excel project, please help me. Thank you! You can input the number whatever you want.

Defined contribution pension plans have increased in popularity. Indeed, many companies have terminated their defined benefit plans and almost all new pension plans are defined contributions plans. These plans are easy to administer and shift the investment risk to the employee.

There are many diverse employment opportunities in insurance, and there are wage rates that go along with various occupations. The Feelings Mutual Insurance Company has employees at many pay levels. The employee benefits office likes to demonstrate the importance of Feelings Mutuals noncontributory (employer pays all), defined contribution, pension plan by projecting a newly-hired employees future pension balance. Of course Feelings Mutual requires the employee to sign a form noting that the projection is not a promise of a future balance and that actual performance will, most certainly, vary from the projection.

Your spreadsheet should have reference cells for these items: age, starting salary, employer contribution rate, wage increase rate, and pension fund rate of return.

The spreadsheet should have columns (not rows) showing an employees age, year of participation in the plan, annual salary (starting salary in year 1, starting salary indexed by the wage increase rate in the second year, etc), annual pension contribution (which increases each year as its a percent of salary and salary increases each year), and the annual ending pension balance (the previous years ending balance times one plus the assumed pension ROR plus the new contribution for the year). Assume that pension contributions are made at the end of each year so the balance at the end of first year (Year 1) will be the pension contribution for the first year. The formulas used should incorporate reference cell addresses. Provide projections for 40 years (use the copy command... do not retype the formula 39 times!).

Feelings Mutual currently contributes 5 percent of an employees salary to the plan each year, but the contribution rate may change in the future, so a reference cell for the contribution rate is needed. Feelings Mutual offers several investment options (S&P 500 fund, balanced fund, growth fund, etc.) that have provided different rates of return over time, so a pension ROR cell is needed.

Your instructor will test to see if your spreadsheet meets the requirements described above by inputting data for a hypothetical new-hire (e.g., a 25 year-old employee starting at $w per year, assuming x% raises, with y% of salary contributed by the employer, and a z% ROR on pension assets). (10 points)