Question: SOLVE IN EXCEL WITH FORMULAS 2. Mary has just completed her undergraduate degree from West Chester University and is already planning to enter an MBA

SOLVE IN EXCEL WITH FORMULAS
SOLVE IN EXCEL WITH FORMULAS 2. Mary has just completed her undergraduate

2. Mary has just completed her undergraduate degree from West Chester University and is already planning to enter an MBA program 4 years from today. The MBA tuition will be $20,000 per year for 2 years, paid at the beginning of each year. In addition, Mary would like to retire 15 years from today and receive a pension of $60,000 every year for 20 years, with the first pension payment paid out 15 years from today. Mary has a bank account with an interest rate of 7%, compounded annually. To fund her expenditures, Mary will save money at the end of years 0-3 and at the end of years 6-14. Create a model in "FE #2" to calculate the constant annual dollar amount Mary must save at the end of those years to exactly cover all of her expenditures, i.e., at the end of her retirement, there will be no money left in her bank account

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