Using the accompanying Retirement$\_$Calculator spreadsheet model, Claire wants to use Scenario Manager to compare the following retirement saving scenarios:

Scenario Starting salary Increase rate Saving rate Return rate

$1$ $ $56,7002\%15\%7\%$

$2$ $ $71,7002\%10\%7\%$

$3$ $ $69,7003\%15\%7\%$

$4$ $ $73,7003\%10\%7\%$

A$.$ Which scenario generates the highest retirement savings at the end of $10$ years? What is the amount?

Note: Round "Amount" to $2$ decimal places.

Scenario generates the highest retirement savings: $($Scenario $1,2,3,$ or $4)$

Amount:

B$.$ Which scenario generates the lowest retirement savings at the end of $20$ years? What is the amount?

Note: Round "Amount" to $2$ decimal places.

Scenario generates the highest retirement savings: $($Scenario $1,2,3,$ or $4)$

Amount:

C$.$ Which scenario generates the second highest retirement savings at the end of $30$ years? What is the amount?

Note: Round "Amount" to $2$ decimal places.

D For Retirement CalculatorScenario $4,$ if Claire would like to have $$1$ million at the end of $30$ years, what would her saving rate need to be$?$ How about at the end of $20$ years?

Note: Round your answers to $2$ decimal places.

Savings rate at the end of $30$ years $\_\_\_\%$

Savings rate at the end of $20$ years $\_\_\_\%$

Retirement Calculator

Starting Salary : $56700$

Salary Increase Rate: $3\%$

Saving Rate: $10\%$

Company Match: $4\%$

Return Rate: $5\mathrm{.}8\%$

$\backslash$table$[[,$Salary,Contribution,Company Match,Principal,Returns,Ending Balance$],[,,,,,,],[1,,56,700\mathrm{.}00,5,670\mathrm{.}00,,2,268\mathrm{.}00,,7,938\mathrm{.}00,213\mathrm{.}33,8,151\mathrm{.}33$