2024 – must be completed in excel and based off the attached chart see information below
FINANCE HELP With EXCEL – 2024
must be completed in excel and based off the attached chart
see information below for insight on 2a
401 K $27000
Savings $5000 to date put $500 a year away
Home none now but looking for $350,000 home in 2 years
Part 2 A
Analysis :
Using the budget in part 1; Use as many time lines as you need forecast all your projected savings(investments) to get each investments future value. You will have to determine your PV, I/y, N, PMT then calc FV
If you don’t have any idea on the I/y you could use 5 or 6% to be conservative. N depends on your current age and when you think you will retire.
Savings
401k or (403B) whichever you use
IRA’s….
Home Ect…….
Once you add up all the future values from step 2 above, and do a time line to determine how much you will be able to spend each year assuming you are going to spend all your money. I.e. your future value will be 0. To calculate N, you have to make a lot of assumptions. For example, if you are planning on retiring at age 65 and think (hope) you will life until you are 90 (25 years) your N will be 25.
Part 2B
Scenario Analysis:
Run at least 3 different scenarios to see the impact of decisions. Some examples may include:
What happens if you delay start of Savings for 5 years?
What happens if you work 3 more years?
What if the interest rate is higher/lower?
What if you have more to save after student loans are paid off?
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