You are 25 years old and currently earn $100,000 per year. Your wage replacement ratio (WRR) is determined to be 80%. 5 You expect inflation will average 3% for your entire life expectancy. You expect to earn 8% on your investments and retire at age 62, living possibly to age 95. Your Social Security benefit statement 8 indicates your Social Security retirement benefit in today's dollar adjusted for early retirement is $40,000 9 per year. You will make retirement savings contribution at the end of each month. 

Use Excel to calculate Jane's retirement planning options under the 

(a) the Pure Annuity Model, 

(b) the Capital Preservation Model

(c) the Purchasing Power Preservation Model