Format useful cell formulas using the What If and FV functions when appropriate. Articulate decisions you would evaluate based on the spreadsheet information created.
Complete a spreadsheet for Marsha (adding to the workbook you started for Matt) using the data provided in the case synopsis and the suggested template headings in the attached file: Headings Template Second Case Assignment.pdf download, and answer the following questions:
1) What are Marsha's expected Pension and Social Security benefits should she live to be 100?
2) Use the FV function to sum all the pension payments Marsha will receive over the 26 period from age 65 to 90. Assume that Marsha receives one payment in December of every year. Show how your spreadsheet SUM function allows you to check the FV function answer.
3) Matt wants to know if he contributes $1000 per year to a savings plan for 30 years how much he will accumulate, assuming a 6% rate of return. A spreadsheet for Matt is not needed to perform calculations for #3.
4) In a text box provide a brief analysis of Marsha's situation? When does Marsha start spending more than she receives? If you were Marsha, what changes would you make in retirement? Keep all your answers extremely short and to the point, but base your decisions on the analysis you create in Excel.
The goal in this individual assignment is to use Excel’s advanced what-if functions (goal seek and data table) to answer the case questions. Use your previously constructed spreadsheet for Marsha (completed in individual case assignment #2), and a spreadsheet for Matt that will be provided as a downloadable file.
1) Using Marsha’s spreadsheet from case assignment #2, how much money can she withdraw on an annual basis to exhaust her savings (balance equals $0) by the age of 90? By the age of 100?
2) Using Marsha’s spreadsheet from case assignment #2, how much money does she need in her portfolio to live her current lifestyle to the age of 90? To the age of 100?
3) Make a table showing Marsha’s ending balance at age 90 by varying her withdrawals. Start with a $40,000 withdrawal that ends at $100,000 using $5,000 increments.
4) Make a table showing Matt’s final accumulated savings at age 60 using various stock returns. Begin with 5% and end at 20% using increments of 1%
Please review your Excel tutorials on what-if functions (goal seek and data table), and feel free to seek clarifications on any aspect of the assignment.
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