Using the accompanying Retirement Calculator spreadsheet model, Claire wants to use Scenario Manager to compare the following etirement saving scenarios: Click here for the Excel Data File Scenario 1 2 3 Starting salary $ 55,900 $ 70,900 $ 68,900 $ 72,900 Increase rate Saving rate Return rate 2% 15% 2% 10% 3% 15% 3% 10% 7% 7% Scenario generates the highest retirement savings Amount 7% 7% a. Which scenario generates the highest retirement savings at the end of 10 years? What is the amount? Note: Round "Amount" to 2 decimal places.
Using the accompanying Retirement Calculator spreadsheet model, Claire wants to use Scenario Manager to compare the following etirement saving scenarios: Click here for the Excel Data File Scenario 1 2 3 Starting salary $ 55,900 $ 70,900 $ 68,900 $ 72,900 Increase rate Saving rate Return rate 2% 15% 2% 10% 3% 15% 3% 10% 7% 7% Scenario generates the highest retirement savings Amount 7% 7% a. Which scenario generates the highest retirement savings at the end of 10 years? What is the amount? Note: Round "Amount" to 2 decimal places.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Using the accompanying Retirement Calculator spreadsheet model, Claire wants to use Scenario Manager to compare the following
retirement saving scenarios:
Click here for the Excel Data File
Scenario
1
2
3
Starting
salary
$ 55,900
$ 70,900
$ 68,900
$ 72,900
Increase rate Saving rate Return rate
2%
2%
3%
3%
15%
10%
15%
10%
Scenario generates the highest retirement savings
Amount
水水水水
7%
7%
7%
7%
a. Which scenario generates the highest retirement savings at the end of 10 years? What is the amount?
Note: Round "Amount" to 2 decimal places.
Transcribed Image Text:b. Which scenario generates the lowest retirement savings at the end of 20 years? What is the amount?
Note: Round "Amount" to 2 decimal places.
Scenario generates the lowest retirement savings
Amount
c. Which scenario generates the second highest retirement savings at the end of 30 years? What is the amoun
Note: Round "Amount" to 2 decimal places.
Scenario generates 2nd highest retirement savings
Amount
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