How much do you need to pay?
Now that you know how much money total you need to save, let's create a table to examine the amount per month to save based on years to retirement and the expected return rate during these saving years.
This example allows you to extend your skills with the pmt()
function to monthly amounts, as previous exercises used yearly amounts. Use =pmt((1+Annual Rate)^(1/12)-1, Years*12, 0, -Nest Egg)
as the formula filling in the cells for each value.
Este ejercicio forma parte del curso
Financial Modeling in Google Sheets
Instrucciones del ejercicio
- In
B9
, use thepmt()
formula to calculate the required monthly saving for 5 years to retirement and 2% annual return rate. - Remember to use the partial absolute references for the Annual Rate in column
B
(the row $8) and Years in columnA
(the column $A). - Use an absolute reference for Nest Egg in
$B$5
.
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