Question: EXCEL FORMULA ONLY PLEASE! The first question is answered and correct for reference. A company has a defined benefit pension plan that specifies annual, year

EXCEL FORMULA ONLY PLEASE! The first question is answered and correct for reference.

A company has a defined benefit pension plan that specifies annual, year end retirement benefits, equal to 1.3% x service years x final year salary. Carol was hired by Perry at the beginning of 2016. Clark is expected to retire at the end of 2055 after 40 years of service. Her retirement is expected to spend 15 years. At the end of 20 2510 years after being hired, her salary is $60,000. The companies actuary projects Clark salary to be $210,000 at retirement. The actuaries discount rate is 6%.

reference. A company has a defined benefit pension plan that specifies annual,

Perry Industries has a defined benefit pension plan that specifies annual, year-end retirement benefits equal to 1.3%x Service years x Final year's salary. Carol was hired by Perry at the beginning of 2016. Clark is expected to retire at the end of 2055 after 40 years of service. Her retirement is expected to span 15 years. At the end of 2025,10 years after being hired, her salary is $60,000. The company's actuary projects Clark's salary to be $210,000 at retirement. The actuaru's dicmuint rato ie 6%

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