Using a hypothetical situation, make calculations to assist in retirement planning (i.e., determine stream of savings necessary for certain standard of retirement).

Make the following assumption about a person:

Age is 40, retirement in 25 years.

Salary is 100,000; growth rate per year is 4%.

Interest rate is 10% (savings grow at 10%).

A constant living standard is desired.

Inflation (CPI rate) is 3%.

Estimated years of retirement is 20.

To maintain standard of living during retirement, one requires 80% of non-retirement expenditure. The answer has to be in excel format