Question: Complete in Excel - I need help with what the formulas are and inputting them in excel 1. You have decided to retire. You would

Complete in Excel - I need help with what the formulas are and inputting them in excel

1. You have decided to retire. You would like to receive equal retirement payments each year for the next 10 years. You want to receive your first retirement payment in one year. You currently have $1,500,000 of savings. You expect to receive another $1,500,000 in 5 years. You can earn 10 percent interest compounded annually on your savings. How large will your annual retirement payment be?

2. What is the present value of receiving $1500 per year for 6 years? Your annual required rate of return is 10%.

3. What is the Annual Percentage Rate (APR) if the Effective Annual Rate (EAR) is 10% and your money is compounded semi-annually?

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