With no taxes or inflation (Spreadsheet 21.1), what would be your retirement annuity if you change the savings rate by 5%? (Do not round intermediate calculations and round your final answer to the nearest whole dollar.)

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SPREADSHEET 21.1 The savings plan A B C E Retirement Years Income Growth Savings Rate ROR 2 25 0.07 0.15 0.06 3 Age Income Savings Cumulative Savings Consumption 4 30 50,000 7,500 7,500 42,500 5 31 53,500 8,025 15,975 45,475 9 35 70,128 10,519 61,658 59,608 19 45 137,952 20,693 308,859 117,259 29 55 271,372 40,706 943,477 230,666 39 65 533,829 80,074 2,457,518 453,755 40 Total 7,445,673 1,116,851 Retirement Annuity 192,244 A B C D E 1 Retirement Years Income Growth Savings Rate ROR 2 25 0.07 0.15 0.06 3 Age Income Savings Cumulative Savings Consumption 4 30 50000 =B4*$C$2 =C4 =B4-C4 5 31 =D4*(1+$D$2)+C5 39 65 40 Total =B4*(1+$B$2) =B5*$C$2 |=B38*(1+$B$2) |=B39*$C$2 |=SUM(B4:B39) |=SUM(C4:C39) Retirement Annuity |=PMT($D$2,$A$2,$D$39,0,0) =B5-C5 =D38*(1+$D$2)+C39 =B39-C39 SPREADSHEET 21.1 The savings plan A B C E Retirement Years Income Growth Savings Rate ROR 2 25 0.07 0.15 0.06 3 Age Income Savings Cumulative Savings Consumption 4 30 50,000 7,500 7,500 42,500 5 31 53,500 8,025 15,975 45,475 9 35 70,128 10,519 61,658 59,608 19 45 137,952 20,693 308,859 117,259 29 55 271,372 40,706 943,477 230,666 39 65 533,829 80,074 2,457,518 453,755 40 Total 7,445,673 1,116,851 Retirement Annuity 192,244 A B C D E 1 Retirement Years Income Growth Savings Rate ROR 2 25 0.07 0.15 0.06 3 Age Income Savings Cumulative Savings Consumption 4 30 50000 =B4*$C$2 =C4 =B4-C4 5 31 =D4*(1+$D$2)+C5 39 65 40 Total =B4*(1+$B$2) =B5*$C$2 |=B38*(1+$B$2) |=B39*$C$2 |=SUM(B4:B39) |=SUM(C4:C39) Retirement Annuity |=PMT($D$2,$A$2,$D$39,0,0) =B5-C5 =D38*(1+$D$2)+C39 =B39-C39