Time Value of Money Activity For this activity, read the scenario and then use the provided Week 6 Time Value of Money Excel Template [XLSX] and Week 6 Time Value of Money Template [DOC ] templates to complete your activity before uploading them to the submission area. Note: There are locked cells in the Excel template. The cells have been locked to prevent the formulas from being disturbed. The cells that you will need to use to complete this assignment are not locked. You may create your own templates, however, it is recommended that you use the templates provided. Note: Watch the Excel tutorial videos linked in this week to learn how to use Excel before attempting the assignment. You can use the template provided or you may create your own template based on the one provided. Scenario Larry and Beth are both married, working adults. They both plan for retirement and consider the $6,000 annual contribution a must. First, consider Beth’s savings. She began working at age 20 and began making an annual contribution to her IRA of $6,000 each year until age 32 (12 contributions). She then left full-time work to have children and be a stay-at-home mom. She left her IRA invested and plans to begin drawing from her IRA when she is 65. Larry started contributing to his IRA at age 32. In the first 12 years of his working career, he used his discretionary income to buy a home, upgrade the family cars, take vacations, and pursue his golfing hobby. At age 32, he made his first $6,000 contribution to an IRA and contributed $6,000 every year up until age 65 (33 contributions). He plans to retire at age 65 and make withdrawals from his IRA. Both IRA accounts grow at an 8 percent annual rate. Do not consider taxes or inflation. Instructions Create a chart summarizing the details of the investment for both Larry and Beth. Write a one-paragraph summary in which you explain the results in terms of the time value of money for both Larry and Beth. (Hint: discuss why one person was able to save a great deal more than the other.)
Looking for a solution written from scratch with No plagiarism and No AI?
WHY CHOOSE US?
We deliver quality original papers |
Our experts write quality original papers using academic databases.We dont use AI in our work. We refund your money if AI is detected |
Free revisions |
We offer our clients multiple free revisions just to ensure you get what you want. |
Discounted prices |
All our prices are discounted which makes it affordable to you. Use code FIRST15 to get your discount |
100% originality |
We deliver papers that are written from scratch to deliver 100% originality. Our papers are free from plagiarism and NO similarity.We have ZERO TOLERANCE TO USE OF AI |
On-time delivery |
We will deliver your paper on time even on short notice or short deadline, overnight essay or even an urgent essay |