## [answered] Lindsay is 25 years old and has a new job in web developmen

Lindsay is 25 years old and has a new job in web development. Lindsay wants to make sure she is financially sound in 30 years, so she plans to invest the same amount into a retirement account at the end of every year for the next 30 years.

(a) Construct a data table in Excel that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests \$15,000 at return of 6%, what would be the balance at the end of 20th year in the account?
\$
? ?
(b) Develop the two-way table in Excel for the balance at the end of 30th year in the account. Consider annual investment amounts of \$5000 to \$20,000 in increments of \$1000, and returns of 0% to 12% in increments of 1%. Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. Complete the below table.
 10% 11% \$5,000 \$ \$ \$6,000 \$ \$ \$7,000 \$ \$ \$8,000 \$ \$ \$9,000 \$ \$ \$10,000 \$ \$ \$11,000 \$ \$ \$12,000 \$ \$ \$13,000 \$ \$ \$14,000 \$ \$ \$15,000 \$ \$ \$16,000 \$ \$ \$17,000 \$ \$ \$18,000 \$ \$ \$19,000 \$ \$ \$20,000 \$ \$

Amount

Return

a. b. Amount at end of 30 years \$1,185,872.79 Amount 10%

\$822,470.11

\$986,964.14

\$1,151,458.16

\$1,315,952.18

\$1,480,446.20

\$1,644,940.23

\$1,809,434.25

\$1,973,928.27

\$2,138,422.29...

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This question was answered on: Sep 18, 2020

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