Create an Excel worksheet to calculate how much someone needs to save each year from now until retirement. Assume that anyone using your worksheet will live on a fixed income during retirement.

For the initial scenario, assume your current age, $1,000 current savings, a retirement age of 62, a life expectancy of 90 years, an inflation rate of 2.5%, an investment portfolio return of 8% and current purchasing power of income of $85,000. Set up your worksheet to compute and show the user: (a) How much they will need to have the day they retire in order to fund their retirement with no additional contributions, (b) How much they will need to invest in the fund each year until retirement to reach that goal.