Question: Generate Retirement planning in Excel. Need to generate values in 'Accumulation Phase' and the CORRECT answers are provided in Post Retirement' table but need to

Generate Retirement planning in Excel. Need to generate values in 'Accumulation Phase' and the CORRECT answers are provided in "Post Retirement' table but need to generate those values.

Generate Retirement planning in Excel. Need to generate values in 'Accumulation Phase'and the CORRECT answers are provided in "Post Retirement' table but needto generate those values. Mark and Cindy are 35 years old with

Mark and Cindy are 35 years old with a combined income of $175,000 a year. They have not saved anything for retirement. Based on their retirement plans they are anticipating that they will need $3,000,000 to retire comfortably at 65. Assume investments are made at the end of the period. 1) How much do they need to save annually to reach their $3 M goal using constant dollar approach? 2) They want enough for 30 years after retirement how much should they withdraw? 3) Complete all for schedules for the constant and nominal dollar approach for both the accumulation phase and drawdown phase.(235,254) Requirement: Use financial functions where applicable Savings Goal Annual Contribution Years to Retirement Real Rate Inflation Rate Nominal Rate 3,000,000 30 6.73% 4.00% 11.00% ent starting at Year 31 235,254 Accumulation Phase Constant Dollar Approach Accumulation Phase-Nominal Dollar Approach Year nning Balance Earnin Contribution Ending Balance Year inning Balance Earnin Contribution Ending Balance 10 10 13 14 15 16 17 18 19 13 14 16 17 19 21 21 23 25 26 27 28 29 3,000,000 9,730,193 Post Retirement Drawdown- Constant Value Approach Post Retirement Drawdown-Nominal Value Approach Ending Balance Year 31 32 Beginning Balance Year inning Balance Earn Ending Balance 3,000,000 S 2,966,669 S 2,931,095 $ 2,893,126 S 2,852,601S 2,809,349 $ 2,763,186 S 2,713,916 201,923 IS 199,680 S 197,285 S 194,730 $ (235,254) S (235,254)S 2,966,669 2,931,095 2,893,126 2,852,601 2,809,349 2.763,186 2,713,916 2,661,329 31 10,006,970 10,282,452 10,555,226 10,823,672 10,823,672 1,190,604 (928,333)11,085,943 11,339,930 11,583,236 11,583,236 1,274,156 (1,044,249)11,813,144 9,730,193 1,070,321 93,543)$ 10,006,970 1,100,767 (825,285) 10,282,452 $1,131,070 $ (858,296) $ 36 37 38 189,091 S 185,984S 182,667 S 235,254) S (235,254)$ (235,254) S 235,254) S (235,254)$ 10,555,226 $ 1,161,075 (892,628) $ 467) $ 1,004,085) S 11,085,943 $ 1,219,454$ 11,339,930 1,247 37 10,006,970$1,100,767 $(825,285) $ 10,282,452 $ 1,131,070 $ (858,296) 10,5S5,226 10,555,226 1,161,075 (892,628) S 10,823,672$ 1,190,604$ 11,085,9431,219,454 $ (965,467) 11,339,9301,247,392 (1,004,085) $ 11,583,236 $ 1,274,156 (1,044,249) S 11,813,144 1,299,446$ (1,086,019) 12,026,5711,322,923 (1,129,460) $ 12,220,034 $ 1,344,204 $ (1,174,638) $ 12,389,6001,362,856 (1,221,623) 12,530,832 $ 1,378,392 (1,270,488) S 12,638,735 S 1,390,261 S (1321,308) 5 12,707,688 1,397,846 (1,374,160) 12,731,374 $ 1,400,451 (1,429,127) S 12,702,6981,397,297 (1,486,292) 12,613,7041,387,507 (1,545,743)$ 12,455,468 $ 1,370,101 (1,607,573)S 12,217,9961,343,980 (1,671,876) $ 11,890,1001,307,911 (1,738,751) $ 11,459,260 $ 1,260,519 $ (1,808,301 S 10,911,477 1,200,262 (1,880,633) 10,231,106 $ 1,125,422 (1,955,858) S 2.931,095 10,282,452 2,931,09S S 2,893,126 $ 2,852,601$ 197,285 $ 2,852,601 10,823,672 11,085,943 11,339,930 11,583,236 11,813,144 192,002 $ 189,091 $ (928,333) 51 2,763,186 2,713,916 $ 2,661,329 S 182,667 $ 12.220,034 12,389,600 12,530,832 12,638,735 12,707,688 2,545,299S 167,015 $(235,254) S 162,422 $ 2,413,124 2,413,124 S 2,179,591 2,179,591 $ (235,254)S 12,702,698 12,613,704 140,743 134,382 $ 127,592 $ 120,346$ 112,612 S 104,357 $ 1,895,657 $ 1,787,995 S 1,673,087 S (235,254) S 235,254) S 12,217,996 11,890,100 11,459,260 10,911,477 1,673,087 1,419,547 1,419,547 S (235,254) $ 9,400,670 1,034,074$ (2,034,093) $ 8,400,651 924,072$ (2,115,456) $ 7,209,266 $793,019 (2,200,075) S 5,802,210 $ 638,243$ (2,288,078) 4,152,375$ 456,761 $ (2,379,601) $ 2,229,536 $ 245,249 (2,474,785) S 5,802,210 4,152,375 426,936$ 220,418 S 14,836 $

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