Please include excel formulas 8) You plan on retiring in 40 years. You...
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Please include excel formulas
8) You plan on retiring in 40 years. You will open a retirement account today with an initial deposit of S3000. You will then begin saving in 40 equal annual payments starting at the end of the first year (starting at t-1) with the last deposit being made at retirement, at t40. Additionally, your employer will pay you a bonus of $50,000 at year t 20 rewarding your 20 years of service; you will put this bonus into your retirement account. Additionally, you want to take a vacation to Hawaii at year t-15, which will cost you $10,000 and come from your retirement account as an early withdrawal. At retirement you would like to make 30 withdrawals of S150,000 per year for the next 30 years, starting at t-41 Finally, at the end of your 30 year retirement (t-70), you would like to donate $10,000,000 to your alma mater so that they will name a door on a classroom for you. If your retirement account will pay you 6% interest per year, what do your annual deposits into the account need to be
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