Part 1: Data Tables You have decided to start saving for retirement. You plan to work for 35 years and then retire. Requirements: Complete each requirement on a separate worksheet. 1. Calculate the amount of money that will be in your Roth IRA account when you retire if you: Save $3,500 at the end of each year. Earn 7% interest each year. The answer to requirement 1 must be calculated using a single formula. 2. Create a one-input Data Table that calculates the value of your Roth IRA when you retire if the annual savings amount is different than $3,500 per year. Use the following annual end of the year annual savings amounts as the column data in the Data Table: $500, $1,000, $2,000, $3,000, $3,500, $4,000, and $5,000. The annual interest rate is still 7% each year. 3. Create a two-input Data Table that calculates the value of your Roth IRA when you retire for different annual interest rates and different annual savings amounts. Use the following annual interest rates as the column data in the Data Table: 1%, 3%, 5%, 7%, 9%, 11%, and 13%. Use the following annual end of the year annual savings amounts as the row data in the Data Table: $2,000, $3,000, $3,500, $4,000, and $5,000. Please use excel

Part 1: Data Tables You have decided to start saving for retirement. You plan to work for 35 years and then retire. Requirements: Complete each requirement on a separate worksheet. 1. Calculate the amount of money that will be in your Roth IRA account when you retire if you: Save $3,500 at the end of each year. Earn 7% interest each year. The answer to requirement 1 must be calculated using a single formula. 2. Create a one-input Data Table that calculates the value of your Roth IRA when you retire if the annual savings amount is different than $3,500 per year. Use the following annual end of the year annual savings amounts as the column data in the Data Table: $500, $1,000, $2,000, $3,000, $3,500, $4,000, and $5,000. The annual interest rate is still 7% each year. 3. Create a two-input Data Table that calculates the value of your Roth IRA when you retire for different annual interest rates and different annual savings amounts. Use the following annual interest rates as the column data in the Data Table: 1%, 3%, 5%, 7%, 9%, 11%, and 13%. Use the following annual end of the year annual savings amounts as the row data in the Data Table: $2,000, $3,000, $3,500, $4,000, and $5,000. Please use excel

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter17: Retirement And Estate Planning

Section: Chapter Questions

Problem 4FPC

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Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
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PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS 1.- Osmara Del Toro deposits her life savings working at HoneyBee for $545,000, for when her retirement day arrives in 6 years, 6 months 6 days. The contract stipulates the payment of interest capitalizable quarterly, at a rate of 10.¼ %. What is the amount she will have at the end of the term that will provide welfare in her old age? Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.
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