Max just found a new job. He wants to be
financially secure in 30 years time, so he plans to invest $10,000every year to his retirement account. The company he invests with has the annual return on investment (ROI) rate currently set at 5%. There are other companies that offer different ROIs. Max has asked you for help in this regard. He wants to know:
a) His retirement account Ending Balance each year (from Year 1 to Year 30) for the current scenario.
b) His retirement account Ending Balance for various levels of annual investment and return. For this, you will need develop a two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0 to 12% in increments of 1% (0.01 to 0.12 on the spreadsheet).
Note that since Max invests the $10,000 at the end of each year, there is no ROI earned on the amount contributed for the year in which he contributes.