This is to be done in M.S. Excel. Email the Excel file with your solutions to the problems by no later than You may use any books or notes to help you in answering these questions, 1. You are doing some financial planning. You hope to retire at age 68 (you are now 35 years old exactly) and expect to live for 25 years after retiring (you will die on your 93rd birthday). You expect to be able to invest your money in a conservative bond fund at that time for 3.77% per year. You expect inflation will increase at a rate of 1.62% per year each year after you retire. You expect to need $50,000 per year at the beginning of the first year of your retirement. (a) How much will you need to fund your retirement at exact age 68? (b) At age 35 you will be making $75,000 per year. You expect this amount will increase each year until retirement at a rate of 2.25% per year. What percent of your salary will you have to invest at the beginning of each year in the accumulation period to exactly fund the amount needed in part (a) at age 68? (Hint: calculate the future value of your annual salaries between now and age 68 and then calculate the percent of that amount that will fund the retirement plan). The accumulation period is the years between now and age 68. (c) How does your answer in (b) change if you expect your rich niece to die when you are exact age 45 (assume you receive the inheritance right after her death)? She has told you that she will leave you with $15,000. This is to be done in M.S. Excel. Email the Excel file with your solutions to the problems by no later than You may use any books or notes to help you in answering these questions, 1. You are doing some financial planning. You hope to retire at age 68 (you are now 35 years old exactly) and expect to live for 25 years after retiring (you will die on your 93rd birthday). You expect to be able to invest your money in a conservative bond fund at that time for 3.77% per year. You expect inflation will increase at a rate of 1.62% per year each year after you retire. You expect to need $50,000 per year at the beginning of the first year of your retirement. (a) How much will you need to fund your retirement at exact age 68? (b) At age 35 you will be making $75,000 per year. You expect this amount will increase each year until retirement at a rate of 2.25% per year. What percent of your salary will you have to invest at the beginning of each year in the accumulation period to exactly fund the amount needed in part (a) at age 68? (Hint: calculate the future value of your annual salaries between now and age 68 and then calculate the percent of that amount that will fund the retirement plan). The accumulation period is the years between now and age 68. (c) How does your answer in (b) change if you expect your rich niece to die when you are exact age 45 (assume you receive the inheritance right after her death)? She has told you that she will leave you with $15,000