Question: EXCEL PLEASE!!! . 2. You are planning to save for retirement over the next 40 years. When you retire, you will put all your retirement

EXCEL PLEASE!!! . 2. You are planning to save for retirement

EXCEL PLEASE!!!

2. You are planning to save for retirement over the next 40 years. When you retire, you will put all your retirement money into a safe account with a 4 percent return compounded monthly. You want to be able to withdraw $5000 at the end of each month during retirement assuming a 35-year withdrawal period. To achieve this, you will invest $X at the end of the year into an account that is expected to earn 12 percent annual return. Every year thereafter until you retire, you will increase the amount you deposit by 3%. What is the amount you will be investing at the end of this month? (You will be making 40 deposits total. Find the amount for the first deposit). 2. You are planning to save for retirement over the next 40 years. When you retire, you will put all your retirement money into a safe account with a 4 percent return compounded monthly. You want to be able to withdraw $5000 at the end of each month during retirement assuming a 35-year withdrawal period. To achieve this, you will invest $X at the end of the year into an account that is expected to earn 12 percent annual return. Every year thereafter until you retire, you will increase the amount you deposit by 3%. What is the amount you will be investing at the end of this month? (You will be making 40 deposits total. Find the amount for the first deposit)

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