You and your co-worker, Benjamin, both just turned 22 and are having dinner to celebrate. You begin talking about saving for retirement. You and Benjamin make a friendly bet to see who will have more money in their retirement account at age 65! Be sure to use the provided Excel template to calculate who will win the bet using the information you are given in the template and what you learned so far in this course. Make sure you comply with the word count requirements and there areno grammar, punctuation, or spelling errors in your writing.
You and your co-worker Benjamin have both just turned 22 and are having dinner to celebrate. You begin talking about
saving for retirement. Your company offers an invesment portfolio that has historically earned 11% interest, compounded
semi-annually. You both decide to invest in this portfolio, but you have different investment strategies.
Benjamin plans to start immediately. He has decided to invest a certain amount of money annually for exactly 8 years. At that
point, Benjamin will stop investing in the account and will let the money grow until he turns 65.
You decide you'd rather wait until you are in a better place financially, so you are not going to begin investing until age 30.
You will invest the same annual amount as Benjamin and plan to invest that amount every year until you reach age 65.
You and Benjamin make a friendly bet to see who will have more money in their retirement account at age 65!
Part I
Choose an amount between $1,000 and $10,000 for p, the annual amount of money invested by both you and Benjamin. Enter the chosen amount in the green box.	p =
Part II
How much does Benjamin have in his account after 1 year? Use the compound interest formula and show all work.
Part III
Review the two tables below which calculate the amount of money you and Benjamin will each have at the age of 65 if you
stick to your investment strategies.
Note: The two tables below have populated automatically based on the annual amount of money invested (green box),
an interest rate of 11% per year, compounded semi-annually until age 65.
BENJAMIN		YOU
Age	Annual Investment	Ben's Total Value		Age	Annual Investment	Your Total Value
22	$ -	$ -		22	$ -	$ -
23	$ -	$ -		23	$ -	$ -
24	$ -	$ -		24	$ -	$ -
25	$ -	$ -		25	$ -	$ -
26	$ -	$ -		26	$ -	$ -
27	$ -	$ -		27	$ -	$ -
28	$ -	$ -		28	$ -	$ -
29	$ -	$ -		29	$ -	$ -
30	$ -	$ -		30	$ -	$ -
31	$ -	$ -		31	$ -	$ -
32	$ -	$ -		32	$ -	$ -
33	$ -	$ -		33	$ -	$ -
34	$ -	$ -		34	$ -	$ -
35	$ -	$ -		35	$ -	$ -
36	$ -	$ -		36	$ -	$ -
37	$ -	$ -		37	$ -	$ -
38	$ -	$ -		38	$ -	$ -
39	$ -	$ -		39	$ -	$ -
40	$ -	$ -		40	$ -	$ -
41	$ -	$ -		41	$ -	$ -
42	$ -	$ -		42	$ -	$ -
43	$ -	$ -		43	$ -	$ -
44	$ -	$ -		44	$ -	$ -
45	$ -	$ -		45	$ -	$ -
46	$ -	$ -		46	$ -	$ -
47	$ -	$ -		47	$ -	$ -
48	$ -	$ -		48	$ -	$ -
49	$ -	$ -		49	$ -	$ -
50	$ -	$ -		50	$ -	$ -
51	$ -	$ -		51	$ -	$ -
52	$ -	$ -		52	$ -	$ -
53	$ -	$ -		53	$ -	$ -
54	$ -	$ -		54	$ -	$ -
55	$ -	$ -		55	$ -	$ -
56	$ -	$ -		56	$ -	$ -
57	$ -	$ -		57	$ -	$ -
58	$ -	$ -		58	$ -	$ -
59	$ -	$ -		59	$ -	$ -
60	$ -	$ -		60	$ -	$ -
61	$ -	$ -		61	$ -	$ -
62	$ -	$ -		62	$ -	$ -
63	$ -	$ -		63	$ -	$ -
64	$ -	$ -		64	$ -	$ -
65	$ -	$ -		65	$ -	$ -
Part IV
Your age, Ben's Account Value and Your Account Value are provided here.
Create an Excelgraphusing the data below to providea visual representation of the data using aline graph.
You will need to select all data below (blue cells). Then, click on the Inserttab at the top of the page to choose your
line graph from the Recommended Charts section. If you need assistance with Excel, explore the Microsoft Excel site:
Excel For Windows Training
Age	Ben's Total Value	Your Total Value	Paste Your graph In the box below:
22	$ -	$ -
23	$ -	$ -
24	$ -	$ -
25	$ -	$ -
26	$ -	$ -
27	$ -	$ -
28	$ -	$ -
29	$ -	$ -
30	$ -	$ -
31	$ -	$ -
32	$ -	$ -
33	$ -	$ -
34	$ -	$ -
35	$ -	$ -
36	$ -	$ -
37	$ -	$ -
38	$ -	$ -
39	$ -	$ -
40	$ -	$ -
41	$ -	$ -
42	$ -	$ -
43	$ -	$ -
44	$ -	$ -
45	$ -	$ -
46	$ -	$ -
47	$ -	$ -
48	$ -	$ -
49	$ -	$ -
50	$ -	$ -
51	$ -	$ -
52	$ -	$ -
53	$ -	$ -
54	$ -	$ -
55	$ -	$ -
56	$ -	$ -
57	$ -	$ -
58	$ -	$ -
59	$ -	$ -
60	$ -	$ -
61	$ -	$ -
62	$ -	$ -
63	$ -	$ -
64	$ -	$ -
65	$ -	$ -
Part V
Summarize and evaluate your findings by answering the following questions:
a) Who had more money at age 65 and how much more did the winner have?
b) How much money did Benjamin invest and how much money did you invest?
c) Evaluate the data above. What conclusions do you draw from your data analysis? Recommend the strategies you would provide to future investors. Justify your answer in 3-4 sentences.