Your father is 50 years old and will retire in 10 years. He expects to live...

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Your father is 50 years old and will retire in 10 years. Heexpects to live for 25 years after he retires, until he is 85. Hewants a fixed retirement income that has the same purchasing powerat the time he retires as $55,000 has today. (The real value of hisretirement income will decline annually after he retires.) Hisretirement income will begin the day he retires, 10 yearsfrom today, at which time he will receive 24 additional annualpayments. Annual inflation is expected to be 4%. He currently has$205,000 saved, and he expects to earn 10% annually on his savings.The data has been collected in the Microsoft Excel Online filebelow. Open the spreadsheet and perform the required analysis toanswer the question below.
Show in spreadsheet

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Your father is 50 years old and will retire in 10 years. Heexpects to live for 25 years after he retires, until he is 85. Hewants a fixed retirement income that has the same purchasing powerat the time he retires as $55,000 has today. (The real value of hisretirement income will decline annually after he retires.) Hisretirement income will begin the day he retires, 10 yearsfrom today, at which time he will receive 24 additional annualpayments. Annual inflation is expected to be 4%. He currently has$205,000 saved, and he expects to earn 10% annually on his savings.The data has been collected in the Microsoft Excel Online filebelow. Open the spreadsheet and perform the required analysis toanswer the question below.Show in spreadsheet