NAME DATE BUILDING YOUR OWN FINANCIAL PLAN: Chapter 19 MyLab Finance The financial planning spreadsheets available at www.pearson.com/mylab/finance will automatically perform computations, charts, and graphs based on your input. ESTIMATING THE VALUE OF YOUR RETIREMENT FUND UPON YOUR RETIREMENT The following template allows you to determine how much money you will have in your retirement account by The time you retire based on assumptions about how much you contribute per period and the rate of return on money invested in your retirement account . a. Once you begin your professional career, how much do you plan to contribute per year toward your retirement account ? Insert that amount in the top row of the following template. b. How many years do you plan to work in your career until retirement? Insert the number in the second row of the following template. c. Input your expected annual return on your investment in the third row of the template. For now, start with an assumed 3% rate of return. (You can change it later.) Template That Estimates Total Retirement Funds Retirement Contribution Per Year $ Number of Years Annual Rate of Return per Period % Value of Your Retirement Fund Upon Your Retirement Based on your input, what is the estimated total amount of money you would have in your retire- ment account? d. Now use a 7% return on your investment. By how much would your retirement account grow by the time of retirement if you earned 7% on your investment? e. Now consider if you worked in your career for three additional years before you retire, and there- fore contribute to your retirement account for three more years. Using the 7% return, by how much would your retirement account grow by the time of retirement if you worked three more years? f. Now use whatever rate of return you think you can achieve, and experiment with different number of years to retirement. Based on your analysis, what is your conclusion regarding when you can afford to retire? What is the estimated total amount of money that you would have in your retirement account based on time when you plan to retire?Retirement Planning Template for Chapter 19 "Estimating the Value of Your Retirement Fund Upon Your Retirement\" Application Assignment 6 (Based on the information from the problem in the text, provide the necessary inputs where highlighted in yellow) Inputs a Retirement Contribution Per Year Number of Years to Retirement _Rate of Return Assumption Value of Your Retirement Based on Your Inputs SUBMIT: Module 12 Application Assignment 6 ATTACH FILES SUBMIT Note: This application assignment was assigned in the previous module. For this assignment, please refer to your textbook page 509 . Using the spreadsheet template attached below this assignment, complete the worksheets found on that page to help you in Estimating the Value of Your Retirement Fund Upon Your Retirement. Discuss your findings and address each of the questions in the form of a Word document and upload by clicking on the above link. I would anticipate a 1 - 2-page double-spaced paper will be necessary to address the case questions. Please be as detailed as possible in your answers. PLEASE NOTE, I HAVE ZERO TOLERANCE FOR WORK SUBMITTED THAT IS NOT ORIGINAL WORK BY YOU. IF YOU SUBMIT SOMEONE ELSE'S WORK, YOU AND THE COLLEAGUE THAT SHARED THE WORK SHOULD BE PREPARED TO EACH RECEIVE A ZERO FOR THIS ASSIGNMENT! NO EXCEPTIONS