Can you please solve using excel - and showing work. Thank you. 9. Eve...
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Can you please solve using excel - and showing work. Thank you.
9. Eve Brown is trying to save for her retirement. She believes she can earn 12% on average each year on her retirement fund. Assume that at the beginning of each of the next 40 years, Eve will allocate x dollars to her retirement fund. If at the beginning of a year Eve has y dollars in her fund, by the end of the year, it will grow to 1.12y dollars. a. Using Excel, develop a spreadsheet model to find out how much Eve should allocate to her retirement fund each year to ensure that she will have $1 million at the end of 40 years. b. Are there any key factors that are being ignored in our analysis of the amount saved for retirement
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