Question
Using the accompanying Retirement_Calculator spreadsheet model, Claire wants to use Scenario Manager to compare the following retirement saving scenarios Starting salary Increase rate Saving rate
Using the accompanying Retirement_Calculator spreadsheet model, Claire wants to use Scenario Manager to compare the following retirement saving scenarios Starting salary Increase rate Saving rate Return rate 1 $ 55,000 2% 15% 7% 2 $ 70,000 2% 10% 7% 3 $ 68,000 3% 15% 7% 4 $ 72,000 3% 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 end of 20 years? Note: Round your answers to 2 decimal places.
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