With a 3% inflation rate (Spreadsheet 21.2), by how much would your retirement annuity grow if you increase the savings rate by 1%?

SPREADSHEET 21.2 A real retirement plan eXcel Please visit us at www.mhhe.com/bknm Retirement Years Income GrowthRate of Infiation Savings Rate 15 Savin 25 07 03 0291 Cumulative Savings rConsumption .50042,500 44.150 51,419 75,264 110,167 31 35 70,128 137,952 271,372 1.03 1.56 2.81 8,025 10,519 20,693 40,706 80,074 116,851 61,658 308,859 943,477 2,457,518 19 otal eal Ann Retirement Years 25 e Growth 07 Rate of Inflation 03 Savings Rate ROR 15 2-C2y(1+C2 rConsumption Cumulative B4 SD$2 B5 SD$2 B39 SD$2 SUM(D4:D39) Real Annult 30 31 B4-D4VC4 B5-D5yC5 B4'(1 -C4 (1+$C$2) -E4 (1+$E$2+D5 -E38 (1+ B38 (1+$B$2)C38(1+$C$2 -(B39 Total SUM(B4:B39 PMT(SFS2,SA$2,-SES39/SC$39,0,0 SPREADSHEET 21.2 A real retirement plan eXcel Please visit us at www.mhhe.com/bknm Retirement Years Income GrowthRate of Infiation Savings Rate 15 Savin 25 07 03 0291 Cumulative Savings rConsumption .50042,500 44.150 51,419 75,264 110,167 31 35 70,128 137,952 271,372 1.03 1.56 2.81 8,025 10,519 20,693 40,706 80,074 116,851 61,658 308,859 943,477 2,457,518 19 otal eal Ann Retirement Years 25 e Growth 07 Rate of Inflation 03 Savings Rate ROR 15 2-C2y(1+C2 rConsumption Cumulative B4 SD$2 B5 SD$2 B39 SD$2 SUM(D4:D39) Real Annult 30 31 B4-D4VC4 B5-D5yC5 B4'(1 -C4 (1+$C$2) -E4 (1+$E$2+D5 -E38 (1+ B38 (1+$B$2)C38(1+$C$2 -(B39 Total SUM(B4:B39 PMT(SFS2,SA$2,-SES39/SC$39,0,0