Week $3$: EXCEL MASTER IT$!$ PROBLEM

This is a classic retirement problem. A friend is celebrating her

birthday and wants to start saving for her anticipated

retirement. She has the following years to retirement and

retirement spending goals:

Because your friend is planning ahead, the first withdrawal

will not take place until one year after she retires. She wants

to make equal annual deposits into her account for her

retirement fund. Please provide excel formulas.

If she starts making these deposits in one year and makes her

last deposit on the day she retires, what amount must she

deposit annually to be able to make the desired withdrawals at

retirement?

Suppose your friend just inherited a large sum of money.

Rather than making equal annual payments, she decided to

make one lump$-$sum deposit today to cover her retirement

needs. What amount does she have to deposit today?

Suppose your friend's employer will contribute to the account

each year as part of the company's profit$-$sharing plan. In

addition, your friend expects a distribution from a family trust

several years from now. What amount must she deposit

annually now to be able to make the desired withdrawals at

retirement?