Question: keep recieving the wrong answer to problem due to the wrong numbers being calculated. please pay attention to the numbers in the problem before solving.

keep recieving the wrong answer to problem due to the wrong numbers being calculated. please pay attention to the numbers in the problem before solving. thank you.  keep recieving the wrong answer to problem due to the wrong
numbers being calculated. please pay attention to the numbers in the problem

Excel Online Structured Activity: Required annulty payments Your father is 50 years old and will retire in 10 years. He expects to ive for 25 years after he retires, unth he is 85 . He wants a ficed retirement income that has the same purchasing power at the time he retires as $35,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will recelve 24 additional annual payments, Annual inflation is expected to be 5%. He currently has $190,000 saved, and he expects to earn 10% annually on his savings. The data has been collected in the Microsoit Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. 1 Required annulty payments \begin{tabular}{l|l} 2 & Retirement income today \\ 4 & Years to retirement \\ 5 & Years of retirement \\ 6 & Infiation rate \\ 7 & Savings \\ 8 & Rate of retum \\ 9 & \\ 10 & Calculate value of savings in 10 years: \\ 11 & Savings at t=10 \end{tabular} $35,00010255.00%$190,00010.00% Savings at t=10 Formulas 12. HNIA 13 Calculate value of fixed retirement income in 10 years: 14 Retirement income at t=10 15 Calculate value of 25 beginning-of-year retirement 16 payments at t=10 : 17 Retirement payments at t=10 Calculate not amount needed at t=10 : Value of retirement payments Value of savings Net amount needed Calculate annual savings needed for next 10 years: Annual savings needed for retirement HNA

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!