You are developing a retirement plan and plan to invest 10% of your annual after-tax earnings.You currently earn $60,000 (after-tax) but expect your annual earnings will increase at anaverage of 3% per year indefinitely. If your opportunity cost of funds is 6.50 percent p.a., howmuch will be in your retirement account in thirty years? Note that this can be solved as a futurevalue of a growing annuity problem.

In Excel Please