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this is all I have I have added new pics in the Modeling & Problem Solving module, the second problem dealt with a dent who
this is all I have
I have added new pics
in the Modeling & Problem Solving module, the second problem dealt with a dent 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 1"} His current annual salary is $126,000 and he gets a 296 salary increase annually He has decided that he wants to retire on his 65th birthday He started this year with retirement savings of $137.000 His annual contributions to his savings are 5.95% of his annual salary His employer's contributions to his savings are 7.95% of his annual salary The annual rate of return on his savings account 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 presenti 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) - 517,514 His annual return on his savings will be ($137,000 "7%) - $9,590 His account therefore will grow by $17,514 +$9,590) - $27,104 At the end of this year his account will have (5137,000 $27. 1041 = $164,104 2. In another new sheet, construct a model containing three modules: Parameters, Outputs, and Calculations. Name this sheet "Model" In the models where there have been only a few time periods in the analysis we have made one column per time period. When an analysis contains many years, like this one, I recommend flipping it so that the time periods go down the rows instead of across the columns Age Salary Contribution Employer Cont. Total Contribution Annual Retum Annual Growth Balance on 12/31 $ 126,000 S 7,497 S 10,017 5 17,514 5 9,590 $ 27,104 S 154,104 6 . 7 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 5 likely be given the following: His current age is 46 (He happens to have been born on January 1"). 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 65" birthday. 9 He started this year with retirement savings of $137,000 10 His annual contributions to his savings are 5.95% of his annual salary 11 His employer's contributions to his savings are 7.95% of his annual salary 12. The annual rate of return on his savings account is 7%. 13 14 Assumptions: 15. His retirement contributions show up all at once on 12/31 each year. 16 His returns all appear at once on 12/31 each year. 17. Salary increases take effect as of 1/1 each year, always a nice birthday present! 19 Given the above, for this year we know (in rounded dollars): 20 His contributions will be ($126,000 * 5.95%) = $7,497 21. His employer's contributions will be ($126,000 7.95%) = $10,017 22 Together, the total contributions will be ($7,497 +$10,017) = $17,514 23 . His annual return on his savings will be ($137,000.7%) = $9,590 His account therefore will grow by ($17,514 + $9,590) = $27,104 At the end of this year his account will have ($137,000 $27,104) = $164,104 18 24 25. 30 2 In another new sheet, construct a model containing three modules: Parameters, Outputs, and Calculations. Name this sheet "Model". 31 In the models where there have been only a few time periods in the analysis we have made one column per time period. When an analysis 32 contains many years, like this one, I recommend flipping it so that the time periods go down the rows instead of across the columns. Age Salary Contribution Employer Cont. Total Contribution Annual Return Annual Growth Balance on 12/31 $ 126,000 $ 7,497 $ 10,017 S 17,514 $ 9,590 $ 27,104 $ 164,104 33 34 46 26. When wurden in the Modeling & Problem Solving module, the second problem dealt with a dent 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 1"} His current annual salary is $126,000 and he gets a 296 salary increase annually He has decided that he wants to retire on his 65th birthday He started this year with retirement savings of $137.000 His annual contributions to his savings are 5.95% of his annual salary His employer's contributions to his savings are 7.95% of his annual salary The annual rate of return on his savings account 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 presenti 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) - 517,514 His annual return on his savings will be ($137,000 "7%) - $9,590 His account therefore will grow by $17,514 +$9,590) - $27,104 At the end of this year his account will have (5137,000 $27. 1041 = $164,104 2. In another new sheet, construct a model containing three modules: Parameters, Outputs, and Calculations. Name this sheet "Model" In the models where there have been only a few time periods in the analysis we have made one column per time period. When an analysis contains many years, like this one, I recommend flipping it so that the time periods go down the rows instead of across the columns Age Salary Contribution Employer Cont. Total Contribution Annual Retum Annual Growth Balance on 12/31 $ 126,000 S 7,497 S 10,017 5 17,514 5 9,590 $ 27,104 S 154,104 6 . 7 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 5 likely be given the following: His current age is 46 (He happens to have been born on January 1"). 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 65" birthday. 9 He started this year with retirement savings of $137,000 10 His annual contributions to his savings are 5.95% of his annual salary 11 His employer's contributions to his savings are 7.95% of his annual salary 12. The annual rate of return on his savings account is 7%. 13 14 Assumptions: 15. His retirement contributions show up all at once on 12/31 each year. 16 His returns all appear at once on 12/31 each year. 17. Salary increases take effect as of 1/1 each year, always a nice birthday present! 19 Given the above, for this year we know (in rounded dollars): 20 His contributions will be ($126,000 * 5.95%) = $7,497 21. His employer's contributions will be ($126,000 7.95%) = $10,017 22 Together, the total contributions will be ($7,497 +$10,017) = $17,514 23 . His annual return on his savings will be ($137,000.7%) = $9,590 His account therefore will grow by ($17,514 + $9,590) = $27,104 At the end of this year his account will have ($137,000 $27,104) = $164,104 18 24 25. 30 2 In another new sheet, construct a model containing three modules: Parameters, Outputs, and Calculations. Name this sheet "Model". 31 In the models where there have been only a few time periods in the analysis we have made one column per time period. When an analysis 32 contains many years, like this one, I recommend flipping it so that the time periods go down the rows instead of across the columns. Age Salary Contribution Employer Cont. Total Contribution Annual Return Annual Growth Balance on 12/31 $ 126,000 $ 7,497 $ 10,017 S 17,514 $ 9,590 $ 27,104 $ 164,104 33 34 46 26. When wurdenStep by Step Solution
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