You will start your first job in January 2018. Your financial advisor has recommended saving for retirement to ensure you have enough and to leverage the time value of money. The data for your situation follows:

Starting salary = $60,000 (at end of first year) Annual raises = 5% p.a. Current age = 25 Career = 40 years

ROR during career = 10% Amount needed in first year of retirement = 80% of last years salary

Inflation in retirement = 3% p.a.

1. Find the FV at the end of your career (year 2057) and conduct a sensitivity analysis to determine if you will have enough for retirement based on the various given savings rates and RORs. Provide your observations about the results.

THIS QUESTION WILL NEED TO BE DONE ON EXCEL

laving, % 209 025 040 175 516 26,327 2030 24 102,620 07,751 15,163 118,796 124,736 130972 13,710 63,000 6,50 6 9,458 72,930 9,323 10,419 10.940 137,521 0,628 44,39 151,617 2,100 159,198 57,158 1A 12,6 13,362 15,333 7,829 22,743 3 8a0 000 1930 31.208 44,747 616 7766497491119.904 145,192 173.673 2500 241.663 281,92327162 377,68 434,178 9241 $57.594 46.013733.36 830572 93,703 281.992 1san 6.879 46