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 1 2 3 4 Starting salary $ 56,600 $ 71,600 $ 69,600 $ 73,600 Increase rate 2% 2% 3% 3% Saving rate Return rate 15% 10% 15% 10% 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 Amount 7% 7% 7% 7% Scenario 3

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 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