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Use the following information regarding your retirement planning: You plan to work ( and save ) for 4 0 years, then retire ( and spend

Use the following information regarding your retirement planning:
You plan to work (and save) for 40 years, then retire (and spend money from your
retirement account) for 25 years. After these 65 years, you expect that your retirement
saving account will have $0 left.
You plan to save $3,500 in year 1, and you will increase this amount by 4% a year
You want your retirement spending to increase by 2.5% per year
You expect to earn a rate of return of 7% during your working years and 4.75% during
retirement
To solve this problem, find the amount that you spend your first year of retirement.
Please Give me a step by step breakdown of how to solve this in excel, or feel free to send an excel file with the solution for study purposes. If you do a step by step plese be detailed

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