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Finance homework help
Challenge Problem: Today is your birthday and you are now 37! You are planning your retirement and have decided that you can save $8,000.00 per year to go toward your retirement. The plan is to make your first deposit one year from today. You found a mutual fund that is expected to provide a return of 7.5% per year. You plan to retire at the age of 65, exactly 28 years from today. It is your expectation that you will live for 25 years after your retirement. Under these assumptions, how much can you spend each year after you retire? Your first withdrawal will be made at the end of your first retirement year. **I’d like to get this in Excel with an explaination of how it works.** Distinguished Scholar Project: In order to illustrate the concept of the time value of money, let’s consider the following scenario. Mary has decided to borrow $120,000. The terms of the loan are 6% over the next 4 years. She will be making annual payments (not monthly). This is an important distinction. Construct a loan amortization schedule that shows the 4 payments of Maryâ€™s loan. **again, I’d like this solution in Excel with explanations.**
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