Using the information below, answer the following questions: Annual Retirement Income...
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Finance
Using the information below, answer the following questions:
Annual Retirement Income Need
150,000
Years until Retirement
30
Years in Retirement
35
Expected Inflation Rate
2.50%
Rate of Return before Retirement
8.00%
Rate of Return during Retirement
5.00%
Using equation 8-10 from the book, how much money will you need to have accumulated at the time of retirement to be able to meet your income needs during retirement?
If you were to make a single lump sum investment today, how much would you need to invest to meet your goal at the time of retirement?
If you were to invest an equal dollar amount each year, how much would you need to invest annually to meet your goal at the time of retirement?
Please show steps in the EXCEL!!!!
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