with $1 million in your investment acoount, how high of a return do you need to eam on your investments? Annual saving Future value Rate of return Assume that your parents wanted to have $160.000 saved for college by your 18 th birthday and they started saving on your firsi birthday. They saved the same arnount each year on your birthday and eamed 8% per year on their investments. Complete the steps beiow using cell references to given data or provious calculation In some cases, a umple cell reference is all you need To copy'paste a formila across a roir or down a column, an absolute cell reference or a mixed cell reference may be prefened. If a pecific Excel fimction is to be used, the directions will specifv the use of that fimction Do not tope in numerical data into a cell or function. Instead, make a reference to the cell im which the data is foumd. Make your computations onb in the blue cells highlighted below In all cases, unless othennise directed, use the eariest appearance of the data in yorr formulas, usually the Grien Dara section. a. How much would they have to save each vear to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $200,000 saved just in case. hou much would they have to save each year to reach their new goal? a. How much would they have to save each year to reach their goal? Amount to save b. If they think you will take five Ar to graduate and decide to have $200,000 saved just in Id they have to save each sear to reach their new goal? Financial goal Amount to save quirements 1 In cell D14, bu using cell references, calculate the amount to save under the first scenario (1 pt.) 2 In cell D20, by using cell references, calculate the amount to save under the second scenario (1 pt.) per gear with the first investment made one sea from now. You think gou can earn 10% per last $5,000 investmenc. Date section a. How much wil you have in gour recitement account on the day gou retire? b. If, inste ad of inesting $5,000 per sear, you wanted to makt one lump-sum imestment tods for your refirement that will resul in the same retirenent swing. how thech vould that lump rum heed ro be? c. If you hope to loe for 20 years in tetirethehe, how much can you withdr me epety ielinemenc)? ehhoust gour rwings? e. Asruming the most you can wiford to swe is $1,000 per yeat, bur you want to tetie With $1 milfion in your inverturest sccount, how high of a return do you seed to exn onyour investmens? Anneral saving Interest rate Years to retireme a. How moch vit you bwe in your retiement sccounk on the day you retire? Funtevabe b. It, instead of investing 45,000 per year, you vanted to mat e one lamp-sum investment todyg for gour fetiement thy vill tezult in the same setaement siming. how much would that lump sum need to be? tump-rum investme! c. Wyou hope to live for 20 ge ars in iviement, how much can you wirhdr wi every gear in ietiement (starting one year after ietirement) so that gou val past esh rust your retiernient? Years of withdra! Annual withdraval d. If. instead you decide to whdr an $300,000 per gear in tectement fogain with thater gour savogs? Annual vithdraval Number of periods e. Assuming the most you cwa aflord to swe is sto00 per yed, but you vant to tefirt on your investments? with $1 million in your investment acoount, how high of a return do you need to eam on your investments? Annual saving Future value Rate of return Assume that your parents wanted to have $160.000 saved for college by your 18 th birthday and they started saving on your firsi birthday. They saved the same arnount each year on your birthday and eamed 8% per year on their investments. Complete the steps beiow using cell references to given data or provious calculation In some cases, a umple cell reference is all you need To copy'paste a formila across a roir or down a column, an absolute cell reference or a mixed cell reference may be prefened. If a pecific Excel fimction is to be used, the directions will specifv the use of that fimction Do not tope in numerical data into a cell or function. Instead, make a reference to the cell im which the data is foumd. Make your computations onb in the blue cells highlighted below In all cases, unless othennise directed, use the eariest appearance of the data in yorr formulas, usually the Grien Dara section. a. How much would they have to save each vear to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $200,000 saved just in case. hou much would they have to save each year to reach their new goal? a. How much would they have to save each year to reach their goal? Amount to save b. If they think you will take five Ar to graduate and decide to have $200,000 saved just in Id they have to save each sear to reach their new goal? Financial goal Amount to save quirements 1 In cell D14, bu using cell references, calculate the amount to save under the first scenario (1 pt.) 2 In cell D20, by using cell references, calculate the amount to save under the second scenario (1 pt.) per gear with the first investment made one sea from now. You think gou can earn 10% per last $5,000 investmenc. Date section a. How much wil you have in gour recitement account on the day gou retire? b. If, inste ad of inesting $5,000 per sear, you wanted to makt one lump-sum imestment tods for your refirement that will resul in the same retirenent swing. how thech vould that lump rum heed ro be? c. If you hope to loe for 20 years in tetirethehe, how much can you withdr me epety ielinemenc)? ehhoust gour rwings? e. Asruming the most you can wiford to swe is $1,000 per yeat, bur you want to tetie With $1 milfion in your inverturest sccount, how high of a return do you seed to exn onyour investmens? Anneral saving Interest rate Years to retireme a. How moch vit you bwe in your retiement sccounk on the day you retire? Funtevabe b. It, instead of investing 45,000 per year, you vanted to mat e one lamp-sum investment todyg for gour fetiement thy vill tezult in the same setaement siming. how much would that lump sum need to be? tump-rum investme! c. Wyou hope to live for 20 ge ars in iviement, how much can you wirhdr wi every gear in ietiement (starting one year after ietirement) so that gou val past esh rust your retiernient? Years of withdra! Annual withdraval d. If. instead you decide to whdr an $300,000 per gear in tectement fogain with thater gour savogs? Annual vithdraval Number of periods e. Assuming the most you cwa aflord to swe is sto00 per yed, but you vant to tefirt on your investments