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b. Use your spreadsheet to calculate these payroll fi gures for a week in which the employees worked the following
number of hours: Andy 35, Bill 28, Craig 11, Desiree 38, Emma 28.5, Frances 37.5, and Gerardo 31.- I have $58,053 in my retirement account, which I hope will be worth $700,000 when I retire in 24 years. I don’t plan on
putting any more money into this account between now and then. Using the Rule of 72, I determined that I would need
to earn around 10½%, though I don’t have a lot of confi dence in that fi gure since this does not involve an even number
of doublings and the Rule of 72 is an approximation anyway.
Use a spreadsheet to determine the actual rate I would need to earn to reach this goal.Chapter 5 Exercises 247