NO SPREADSHEET SOLUTION. PLEASE PROVIDE A FINANCIAL CALCULATOR SOLUTION. With no taxes or inflation, what would be your retirement annuity if you increase the savings rate by 1%?

686 Part Six Active Investment Management SPREADSHEET 21.1 The savings plan ROR 0.06 Income Growth 0.07 ncome ngs Rate 0.15 1 Retirement Years 25 Age 30 31 35 45 Spreadsheets are available in Connect Savings umulative Savings Consumption 42,500 45,475 7,500 50,000 53,500 70,128 137.952 271,372 533,829 7,445,673 7,500 19 29 39 40 61,658 308,859 943,477 2,457,518 1,116,851 Retirement Annuity 10,519 20,693 40,706 80,074 117,259 230,666 453,755 192,244 65 Total Retirement Years 25 Income Growth 0.07 Income Savings Rate 0.15 Savings ROR 0.06 Cumulative Savings Consumption 50000 B4 $C$2 B4-C4 B5-C5 30 31 65 Total -C4 B4(1+$B$2) D411+$D$2)+C5 D38(1+$D$2)+C39 B39-C39 39 40 SUMIC4:C39)Retirem entAnnuity-MT(SD$2.SA$2.SDS39 0,0) then add current savings from column C. Finally, C40 shows the sum of dollars saved over the lifetime, and E40 converts cumulative savings (including interest) at age 65 to a 25-year ann ity using the financial function PMT from Excel's function menu: PMT rate nner PV. FV)