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

Click here for the Excel Data File

Scenario Starting salary Increase rate Saving rate Return rate

$1$ $ $55,1002\%15\%7\%$

$2$ $ $70,1002\%10\%7\%$

$3$ $ $68,1003\%15\%7\%$

$4$ $ $72,1003\%10\%7\%$

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

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

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

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

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.

For Scenario $4,$ 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

Retirement Calculator

Starting Salary: $55,100\mathrm{.}00$

Salary Increase Rate: $3\%$

Saving Rate: $10\%$

Company Match: $4\%$

Return Rate: $6\mathrm{.}0\%$

Year Salary Contribution Company Match Principal Returns Ending Balance

$00$

$155,100\mathrm{.}005,510\mathrm{.}002,204\mathrm{.}007,714\mathrm{.}00214\mathrm{.}987,928\mathrm{.}98$

$256,753\mathrm{.}005,675\mathrm{.}302,270\mathrm{.}1215,874\mathrm{.}40708\mathrm{.}8016,583\mathrm{.}20$

$358,455\mathrm{.}595,845\mathrm{.}562,338\mathrm{.}2224,766\mathrm{.}981,247\mathrm{.}3826,014\mathrm{.}36$

$460,209\mathrm{.}266,020\mathrm{.}932,408\mathrm{.}3734,443\mathrm{.}661,833\mathrm{.}9336,277\mathrm{.}59$

$562,015\mathrm{.}546,201\mathrm{.}552,480\mathrm{.}6244,959\mathrm{.}762,471\mathrm{.}8247,431\mathrm{.}58$

$663,876\mathrm{.}006,387\mathrm{.}602,555\mathrm{.}0456,374\mathrm{.}223,164\mathrm{.}6859,538\mathrm{.}90$

$765,792\mathrm{.}286,579\mathrm{.}232,631\mathrm{.}6968,749\mathrm{.}823,916\mathrm{.}3572,666\mathrm{.}16$

$867,766\mathrm{.}056,776\mathrm{.}602,710\mathrm{.}6482,153\mathrm{.}414,730\mathrm{.}9486,884\mathrm{.}35$

$969,799\mathrm{.}036,979\mathrm{.}902,791\mathrm{.}9696,656\mathrm{.}215,612\mathrm{.}81102,269\mathrm{.}02$

$1071,893\mathrm{.}007,189\mathrm{.}302,875\mathrm{.}72112,334\mathrm{.}046,566\mathrm{.}62118,900\mathrm{.}67$

$1174,049\mathrm{.}797,404\mathrm{.}982,961\mathrm{.}99129,267\mathrm{.}647,597\mathrm{.}33136,864\mathrm{.}97$

$1276,271\mathrm{.}297,627\mathrm{.}133,050\mathrm{.}85147,542\mathrm{.}958,710\mathrm{.}20156,253\mathrm{.}14$

$1378,559\mathrm{.}427,855\mathrm{.}943,142\mathrm{.}38167,251\mathrm{.}469,910\mathrm{.}85177,162\mathrm{.}32$

$1480,916\mathrm{.}218,091\mathrm{.}623,236\mathrm{.}65188,490\mathrm{.}5911,205\mathrm{.}26199,695\mathrm{.}85$

$1583,343\mathrm{.}698,334\mathrm{.}373,333\mathrm{.}75211,363\mathrm{.}9612,599\mathrm{.}79223,963\mathrm{.}75$

$1685,844\mathrm{.}008,584\mathrm{.}403,433\mathrm{.}76235,981\mathrm{.}9214,101\mathrm{.}21250,083\mathrm{.}13$

$1788,419\mathrm{.}328,841\mathrm{.}933,536\mathrm{.}77262,461\mathrm{.}8315,716\mathrm{.}73278,178\mathrm{.}56$