PARTIAL CREDIT -- You must use Excel equations and functions (25 pts) Max is planning his retirement 25 years from now. Currently, he has $75,000 in his investment. He plans to add $1,000 each month for the next 25 years (ordinary annuity) to this account. His investment will earn 9 percent compounded monthly. Max will earn 2.5 percent compounded monthly on his investment during retirement. He plans to withdraw $7,000 each month from his retirement account for 30 years. How much can he leave his heirs at the end of the retirement period? (How much remains in the investment at the end of retirement?) 3 1 2. 13 14 Saving Period 15 Initial Balance $75,000 16 Total Length 17 Savings amount $1,000 per month 18 Rate during Savings (APR) 9.00% annual 19 20 Retirement Period 21 Withdrawal Period Length 22 Rate during Retirement 2.50% 23 Withdrawal amount $7,000 per month 24 Inheritance ? 25 years 30 years 26