When completing the problems on this worksheet, List and label all inputs and use cell references in TVM functions I've created templates (as in the in-class activity) and placed them to the right Templates: Zero credit will be awarded for unlabeled solutions. PV FV N PMT N PMT I/Y FV = a I/Y PV = FV Use financial math functions or formulas to complete the following problems. Place the solutions to each scenario below. You will require an income of $52,000 per year during retirement. You plan to receiving retirement income for 30 years (following retirement) and you expect your retirement account to earn 5% per year following retirement. How much will we need at the time you retirement to provide adequate funding? b Continuing this retirement scenario, let's assume that you will retire 25 years from now and you expect your retirement account to earn 8.50% per year prior to retirement. How much do we need to invest at the end of each year (for 25 years) so that you accumulate the desired amount at the time you retire (which we found in part a)? Assume a zero starting balance (today) in your retirement account. c Continuing this retirement scenario, assume you would like to contribute to your retirement account each quarter (instead of annually as in part b). What is your quarterly contribution? d Continuing this retirement scenario, assume you want your ANNUAL payments received during retirement to increase by 2.40% each year. How much will you need at retirement to provide adequate funding? (HINT: this question is similar to part a, except that the payment received during retirement increases each year) HINT: use the post-retirement rate and term 2 alz PV IN PMT 1/4 = 1/Y PMT = FV PV 1/Y PMT Do NOT place data in the cells above. Instead, copy and paste the appropriate template to the left to answers questions a through d. N = You will use one template for each question. b d