3. The PV of benefits if employed to age 65. The net present value (PV) of benefits assuming the current or predicted interest rate from sheet 1 should be displayed. Note that the monthly benefit if employed to age 65 is an annuity beginning at age 65 and that the PV of this annuity should be discounted back to the early retirement date and represented as a lump sum. That is, the PV at age 65 is actually a future value (FV) as of the early retirement date. Interest in all financial calculations should be compounded monthly. Assume that males live (on average) to age 76 and that females live to age 81. 4. The PV of benefits if retiring early. Again, the net present value (PV) of benefits as of the early-retirement date assuming the current or predicted interest rate from sheet 1 should be displayed. Note that the monthly benefit if retiring early is an annuity beginning at the early retirement date. Once more, assume that interest in all financial calculations is compounded monthly and that males and females survive as above. As an added benefit, MCC is offering as a retirement incentive an immediate cash bonus of 1.5 times the base salary for retirement calculations (equation 3). This will count as part of the early retirement package. Sheet 1 Employee Name. SSN Status Gender Spouse Name Spouse Gender M Avg 5-year salary: Avg(5- year)salary growth rate: Sheet 2 Earnings History Employee's highest, five-consecutive years' earnings: 2016 $ 35,000 2017 S 38,000 2018 $ 41,500 2019 $ 44,000 2020 $ 45,500 Jane Doe XXX-XX-XXXX Salaried F Joe Doe Age @ Retirement ...Employee ...Spouse Yrs of service Months early Monthly Benefit Estimated PV $ 40,800 Current or Predicted Interest Rate Bonus Total DATA ENTRY Personal Information BENEFITS COMPARISON Base Salary for Retirement Calculations $ 40,800 Retire Early 60.74 51.17 28.58 51.10 8.57% 9.21% 6.02% 3,41% $ 1,929 $271,071 $ 61,200 $332,271 6.80% 4 6% 65.00 55.43 30.00 0.00 $ 3,600 $ 343,842 "Note: Both Estimated PVs are as of the early retirement date 10/4/1960 12/2/1992 7/1/2021 4/29/1970 Retire at 65 Age @Retirement Spouse Birth Dates Birth Hire Retire ...Employee ...Spouse Yrs of service (max of 30) Months early Monthly Benefit Estimated PV 3. The PV of benefits if employed to age 65. The net present value (PV) of benefits assuming the current or predicted interest rate from sheet 1 should be displayed. Note that the monthly benefit if employed to age 65 is an annuity beginning at age 65 and that the PV of this annuity should be discounted back to the early retirement date and represented as a lump sum. That is, the PV at age 65 is actually a future value (FV) as of the early retirement date. Interest in all financial calculations should be compounded monthly. Assume that males live (on average) to age 76 and that females live to age 81. 4. The PV of benefits if retiring early. Again, the net present value (PV) of benefits as of the early-retirement date assuming the current or predicted interest rate from sheet 1 should be displayed. Note that the monthly benefit if retiring early is an annuity beginning at the early retirement date. Once more, assume that interest in all financial calculations is compounded monthly and that males and females survive as above. As an added benefit, MCC is offering as a retirement incentive an immediate cash bonus of 1.5 times the base salary for retirement calculations (equation 3). This will count as part of the early retirement package. 2