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Problem 9-37 Solving for an annuity (LO9-4] You wish to retire in 12 years, at which...
You wish to retire in 14 years, at which time you want to have accumulated enough money to receive an annual annuity of $17,000 for 19 years after retirement.
You wish to retire in 14 years, at which time you want to have accumulated enough money to receive an annual annuity of $17,000 for 19 years after retirement. During the period before retirement you can earn 8 percent annually, while after retirement you can earn 10 percent on your money. What annual contributions to the retirement fund will allow you to receive the $17,000 annuity? Use Appendix C and Appendix D for an approximate answer, but calculate your final answer using the formula and...
You wish to retire in 40 years, at which time you want to have accumulated enough...
You wish to retire in 40 years, at which time you want to have accumulated enough money to receive a monthly annuity of $12,000 for 25 years after retirement. During the period before retirement you can earn 9% compounded annually, while after retirement you can earn 10% on your money. What annual contributions to this retirement fund will allow you to receive the $12,000 monthly annuity?
Una Day is planning to retire in 20 years, at which time she hopes to have...
Una Day is planning to retire in 20 years, at which time she hopes to have accumulated enough money to receive an annuity of $12,000 a year for 25 years of retirement. During her pre-retirement period she expects to earn 8 percent annually, while during retirement she expects to earn 10 percent annually on her 39. ey. What annual contributions to this retirement fund are required for Una to achieve her objective and sleep well at night? mon
You wish to retire in 12 years and currently have $50,000 in a savings account yielding...
You wish to retire in 12 years and currently have $50,000 in a savings account yielding 5 percent annually and $100,000 in quality “blue chip” stocks yielding 10 percent. If you expect to add $30,000 at the end of each year to your stock portfolios, how much will you have in your retirement fund when you retire? What rate of return must you earn on your retirement funds if you want to withdraw $102,000 per year for the next 15...
You deposit $11,000 annually into a life insurance fund for the next 10 years, after which time you plan to retire...
You deposit $11,000 annually into a life insurance fund for the next 10 years, after which time you plan to retire. a. If the deposits are made at the beginning of the year and earn an interest rate of 7 percent, what will be the amount in the retirement fund at the end of year 10? b. Instead of a lump sum, you wish to receive annuities for the next 20 years (years 11 through 30). What is the constant...
You wish to retire in 37 years with annual retirement income from your savings of $109,126...
You wish to retire in 37 years with annual retirement income from your savings of $109,126 per year. You expect to draw this annual payment for 22 years. How much to the nearest whole dollar must you contribute to your retirement savings each year in order to be able to withdraw $109,126 during retirement if your retirement savings will earn 12.3% per year between now and when you retire, and 8.5% per year after you retire? QUESTION 93 Assume that...
Problem 9-27 Annuity due [LO9-4] Annuity payments are assumed to come at the end of each...
Problem 9-27 Annuity due [LO9-4] Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). However, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due). What is the future value of a 8-year annuity of $3,600 per period where payments come at the beginning of each period? The interest rate is 7 percent. Use Appendix C for an approximate answer, but calculate your final...
20. Problem 5.39 (Required Annuity Payments) eBook Your father is 50 years old and will retire...
20. Problem 5.39 (Required Annuity Payments) eBook Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $45,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today,...
Using Excel Please 5. Growing Annuity Assume you want to retire in 35 years and save...
Using Excel Please
5. Growing Annuity Assume you want to retire in 35 years and save a $15,000 at the end of the first year. Assume you will earn 7% annually on your investment and you expect 2% inflation before retirement. After you retired, you expect to live for another 30 years. Assume you can earn a nominal annual rate of 4% and you expect inflation to be 3% during retirement. a) Calculate how much money you are accumulating by...
You plan to retire in exactly 20 years. Your goal is to create a fund that...
You plan to retire in exactly 20 years. Your goal is to create a fund that will allow you to receive S$20,000 at the end of each year for the 30 years you will live after retirement. You know that you will be able to earn 1 1% per year during the 30-year retirement period. How large a fund will you need when you retire in 20 years to provide the 30- year, S20,000 retirement annuity? a. How much will...
Una Day is planning to retire in 20 years, at which time she hopes to have accumulated enough money to receive an annuity of $12,000 a year for 25 years of retirement. During her pre-retirement period she expects to earn 8 percent annually, while during retirement she expects to earn 10 percent annually on her 39. ey. What annual contributions to this retirement fund are required for Una to achieve her objective and sleep well at night? mon
You deposit $11,000 annually into a life insurance fund for the next 10 years, after which time you plan to retire. a. If the deposits are made at the beginning of the year and earn an interest rate of 7 percent, what will be the amount in the retirement fund at the end of year 10? b. Instead of a lump sum, you wish to receive annuities for the next 20 years (years 11 through 30). What is the constant...
20. Problem 5.39 (Required Annuity Payments) eBook Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $45,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today,...
Using Excel Please
5. Growing Annuity Assume you want to retire in 35 years and save a $15,000 at the end of the first year. Assume you will earn 7% annually on your investment and you expect 2% inflation before retirement. After you retired, you expect to live for another 30 years. Assume you can earn a nominal annual rate of 4% and you expect inflation to be 3% during retirement. a) Calculate how much money you are accumulating by...
You plan to retire in exactly 20 years. Your goal is to create a fund that will allow you to receive S$20,000 at the end of each year for the 30 years you will live after retirement. You know that you will be able to earn 1 1% per year during the 30-year retirement period. How large a fund will you need when you retire in 20 years to provide the 30- year, S20,000 retirement annuity? a. How much will...
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