• You are given a scenario. Employee 1 makes $ 65,000 a year. He is 28 years old.  He has a job with an employer who matches his 401k contribution at 50% up to 5%.  Employee 1 choses to contribute 5% of his salary.  He is paid monthly.  He chooses to place his money in an investment that averages an 7% return per year.  Assume the employee never receives a raise.  The employee plans to retire at 65 years of age and live 20 years after retirement.
• Build a spreadsheet using financial formulas to show how much money Employee 1 will have in his 401k on his 65th birthday, and how much he will receive monthly after retirement.
• Provide a 1-2-page written paper to explain the process of setting up the template for evaluating the present value and future value of an annuity.

Answer rating: 100% (QA)

The spreadsheet should have the following columns ie A1100737 A110073712 Month Salary 401k contribut... View the full answer