Question: Create an Excel spreadsheet that projects your savings balances every year until retirement, and the income you can generate in retirement from your savings. Include

Create an Excel spreadsheet that projects your savings balances every year until retirement, and the income you can generate in retirement from your savings.

Include columns for 1. years; 2. savings balance; 3. investment returns; 4. annual new savings (investment) from your salary. Note that each year's balance equals the prior year's balance plus investment returns, plus additional savings. See below:

Interest Rate	5.00%
Annual Savings	6,000.00

Year	Balance	Returns	Annual Savings
2020	500.00	25.00	6,000.00
2021	6,525.00	326.25	6,000.00
2022	12,851.25	642.56	6,000.00
:	:
[Retirement Year]	770,734.57

Retirement Annuity	50,137.39

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Pleace calculate the annuity(Retirement Annuity 50,137.39) Interest rate Saving 5% 6000 elieve that anount for saving enough for a confident life Years Saving Bal Inv.return Annuity 2020 500 25 2021...

Create an Excel spreadsheet that projects your savings balances every year until retirement, and the income you can generate in retirement from your savings. Include columns for 1. years: 2. savings...

1. Create an Excel spreadsheet that projects your savings balances every year until retirement, and the income you can generate in retirement from your savings. Include columns for 1. years; 2....

Create an Excel spreadsheet that projects your savings balances every year until retirement, and the income you can generate in retirement from your savings Include columns for 1 years: 2. savings...

1. Create an Excel spreadsheet that projects your savings balances every year until retirement, and the income you can generate in retirement from your savings. Include columns for 1. years; 2....

need help building this with the following parameters. work: anderson windows. own a home. buy a used car. married with a family of 4 The main task is to create an Excel spreadsheet with your...

Hello tutor Please find the attached instruction file and use the template for solving this question. If you have any question about the problem please contact me. Thanks Your Course Project...

19 Name: ____________________________________ 1. Your friend has a credit card with an APR of 49.9% ! What would his finance charge be on a $500 charge for just 1 month? 2. Your friend has 2 credit...

Name I. Financial goals Your budget is your plan for spending and saving. Budgeting forces you to consider what is important in your life, what things you want to own, how you want to live, what it...

FINA - CASE Portfolio Assignment: Larry and Janice Martin have decided, after 20 years of working for others, that they wanted to open their own business. CompuTech would be a repair and sales shop...

Vicinal halo alcohols (halohydrins) can be synthesized by treating epoxides with HX. (a) Show how you would use this method to synthesize 2-chlorocyclopentanol from cyclopentene. (b) Would you expect...

Mercury Co (buyer) purchases goods from Venus Co (seller) with a gross price of $4,500 Moon offers Sun a 10 trade discount with terms of 215, Assuming that Mercury does not pay within the discount...

which one of the folowing does not part of the market evirnment of an enteprise

QUESTION 3 ( 2 0 Marks ) The vast array of goods consumers buy can be classified based on consumer habits, price, and product characteristics. Taking consideration of the foregoing statement and...

Why do you think Neumann went from being a highly acclaimed leader to being fired from his own company?

Explain the success of WeWorks work environment using reinforcement theory.

Using McClellands theory of motivation, explain which need(s) Neumann believes motivates workers.