Question

Problem 5-57 Spreadsheet Problem (LG5-2, LG5-9) Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, the contributes $3.700 per year. She increases the contribution rate to 55700 per year in years through 20. This is followed by increases to $10.700 per year in years 21 through 30 and to $15.700 per year for the last ten years. This moneyears return of 10 percent First compute the value of the retirement plan when she turns age 65. (Round your answer to 2 decimal places Compute the annual payment she would receive over the next 40 years in the wealth was converted to an annuity payment of percent. (Round your answer to 2 decimal places.)
pls compute throughly and properly

Answer 1

a	FV at age 65	$2,332,642.62
b	Annual payment	$216,841.55

Workings

	FV at age 35	$58,968.47
	FV at age 45	$243,792.35
	Fv at age 55	$802,865.01
a	FV at age 65	$2,332,642.62
b	Annual payment	$216,841.55

AutoSave o 9.3HD Book1 - Excel File Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do F = = = 0 Calibri B IU - Z - 11 - -A A - A - Sign in - 0 X Share Comments 3 Insert E. AY O Delete - Format . Sort & Find & Filter - Select Cells Editing General $ - % Paste La- B - 978-98 Conditional Format as Formatting Table - Cell Styles Clipboard Font Alignment Number Styles - for FV at age 35 FV at age 35 FV at age 45 Fv at age 55 FV at age 65 =FV(10%, 10,-3700) =FV(10%,10,-5700,-C2) =FV(10%,10,-10700,-C3) =FV(10%,10,-15700,-C4) Annual payment =PMT(9%,40,-C5) Sheet1 Sheet2 Ready + 100% ^ E D -- J ENG 5:34 AM