Time Value of Money Calculations Summary Sheet Name Your Current Age 30 Your Desired Age of Retirement 60 Life Expectancy 95 Annual Retirement Income Desired (in Todays Dollars) $40,000 Number of Years Until Retirement Length of Retirement (in Years) ASSUMPTIONS: Zero current savings, no tax implications, 1% Management Fee, 2% inflation rate Use BALANCED GROWTH rate of return % from Investor Profile for calculations. Calculate NRR and RRR Asset Allocation (%) Nominal Rate of Return After Fees (%) Canadian Equities U.S. Equities Foreign Developed Equities Emerging Market Equities Fixed Income Securities Real Rate of Return After Fees (%) Inflation Rate (%) ANSWER PAGE NRR= RRR= (2 marks) (2 marks) Calculate future value of the income requirement given the expected inflation rate? (5 marks for filling out TVM summary sheet correctly including the amount you are solving for ) MODE P/Y C/Y N I/Y PV PMT FV BGN Calculate (PV) savings required on first day of retirement to fund annual retirement income with monthly interest compounding of the Real rate of return.? (5 marks for filling out TVM summary sheet correctly including the amount you are solving for) MODE P/Y C/Y N I/Y PV PMT FV BGN Calculate monthly savings required to fund retirement goal where compounding is monthly if the nominal rate of return? (5 marks for filling out TVM summary sheet correctly including the amount you are solving for) MODE P/Y C/Y N I/Y PV FV PMT BGN I will need to save per month to reach my retirement goal. (1 mark for providing the correct savings amount per month)