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

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 11RE: Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the...

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