Please include the steps in excel.

Tim is 37 years old and would like to establish a retirement plan. Develop a spreadsheet model that could be used to assist Tim with retirement planning. Your model should include the following input parameters: Tim's current age =37 years Tim's current total retirement savings =$259,000 Annual rate of return on retirement savings =4% Tim's current annual salary =$145,000 Tim's expected annual percentage increase in salary =2% Tim's percentage of annual salary contributed to retirement =6% Tim's expected age of retirement =65 Tim's expected annual expenses after retirement (current dollars) =$90,000 Rate of return on retirement savings after retirement =3% Income tax rate postretirement =15% Assume that Tim's employer contributes 6% of Tim's salary to his retirement fund. Tim can make an additional annual contribution to his retirement fund before taxes (tax free) up to a contribution of $16,000. Assume that he contributes $6,000 per year. Also, assume an inflation rate of 2%. Tim is 37 years old and would like to establish a retirement plan. Develop a spreadsheet model that could be used to assist Tim with retirement planning. Your model should include the following input parameters: Tim's current age =37 years Tim's current total retirement savings =$259,000 Annual rate of return on retirement savings =4% Tim's current annual salary =$145,000 Tim's expected annual percentage increase in salary =2% Tim's percentage of annual salary contributed to retirement =6% Tim's expected age of retirement =65 Tim's expected annual expenses after retirement (current dollars) =$90,000 Rate of return on retirement savings after retirement =3% Income tax rate postretirement =15% Assume that Tim's employer contributes 6% of Tim's salary to his retirement fund. Tim can make an additional annual contribution to his retirement fund before taxes (tax free) up to a contribution of $16,000. Assume that he contributes $6,000 per year. Also, assume an inflation rate of 2%