Video Excel Online Structured Activity: Required annuity payments Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants afined retirement income that has the same purchasing power at the time he retires as $45,000 has today (the real value of his retirement income will decline annually after he retires. His retirement come will begin the day he retires, 10 years from today, at which time he will receive additional annual payments Annual indtation is expected to be he currently us $100,000 naved, and he expects to earn 10% annually on his savings. The data has been collected in the Microsoft Excel Online the below Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet How much must be save during each of the next 10 years (end-of-year deposits) to meet his retirement goal? Do not round your intermediate calculation Hound your answer to the nearest cent. Check My Work Reset Problem blank Excel File Home Insert Formulas Data Review View Help Tell Arial V 10 BH v a Av . B11 fi B D E A 1 Required annuity payments 2 3 Retirement income today 4 Years to retirement 5 Years of retirement 6 Inflation rate 7 Savings 8 Rate of return 9 10 Calculate value of savings in 10 years: 11 Savings at t = 10 12 $45,000 10 25 5.00% $100,000 10.00% Formulas NA UNA #NA 13 Calculate value of fixed retirement income in 10 years: 14 Retirement income att - 10 15 Calculate value of 25 beginning-of-year retirement 16 payments at t =10 17 Retirement payments at t = 10 18 19 Calculate net amount needed at t= 10: 20 Value of retirement payments 21 Value of savings 22 Net amount needed 23 24 Calculate annual savings needed for next 10 years: 25 Annual savings needed for retirement #N/A #N/A #N/A #N/A Sheet1 + Calculation Mode Automatic Workbook Statistics Type here to search Et