1.
=3600/9%*(1.09^10-1)*1.09^30+5600/9%*(1.09^10-1)*1.09^20+10600/9%*(1.09^10-1)*1.09^10+15600/9%*(1.09^10-1)
=1820757.12605
2.
=1820757.12605*8%/(1-1/1.08^40)
=152688.98664
Problem 5-57 Spreadsheet Problem (LG5-2, LG5-9) Consider a person who begins contributing to a retirement plan...
pls compute throughly and properly Problem 5-57 Spreadsheet Problem (LG5-2, LG5-9) Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, the contributes $3.700 per year. She increases the contribution rate to 55700 per year in years through 20. This is followed by increases to $10.700 per year in years 21 through 30 and to $15.700 per year for the last ten...
Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, she contributes $3,600 per year. She increases the contribution rate to $5,600 per year in years 11 through 20. This is followed by increases to $10,600 per year in years 21 through 30 and to $15,600 per year for the last ten years. This money earns a return of 9 percent. First...
pls be simple and clear with the answer and explanation. Problem 5-57 Spreadsheet Problem (LG5-2, LG5-9) Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, she contributes $3.700 per year. She increases the contribution rate to $5,700 per year in years 11 through 20. This is followed by increases to $10,700 per year in years 21 through 30 and to $15,700...
Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, she contributes $3,300 per year. She increases the contribution rate to $5,300 per year in years 11 through 20. This is followed by increases to $10,300 per year in years 21 through 30 and to $15,300 per year for the last ten years. This money earns a return of 9 percent. First...
i need help anyone Problem 4-14 Present Value with Different Discount Rates (LG4-4) Compute the present value of $4,700 paid in two years using the following discount rates: 9 percent in the first year, and 8 percent in the second year. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) points Present value Problem 5-19 Future Value of Multiple Annuities (LG5-2) Assume that you contribute $320 per month to a retirement plan for 20 years. Then you...
Problem 5-9 Present Value of a Perpetuity (LG5-5) What's the present value, when interest rates are 8.5 percent of a $90 payment made every year forever? (Round your answer to 2 decimal places.) Present value Problem 5-3 Future Value of an Annuity (LG5-2) What is the future value of a $990 annuity payment over five years if interest rates are 9 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value Problem 5-31...
Lena has just become eligible to participate in her company's retirement plan. Her company does not match contributions, but the plan does average an annual return of15% Lena is 40 and plans to work to age 65. If she contributes $170 per month, how much will she have in her plan at retirement? When Lena retires, the amount she will have in her retirement plan is $?
Problem 5-20 Future Value of Multiple Annuities (LG5-2) Assume that you contribute $240 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $440 per month for the next 25 years. Given a 9.0 percent interest rate, what is the value of your retirement plan after the 40 years? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Future value of multiple annuities
CASE PROBLEM: RETIREMENT PLAN Tim is 37 years old and would like to establish a retirement plan. Develop a spreadsheet model that could be used to assist Tim with retirement planning. Your model should include the following input parameters: Tim's current age = 37 years Tim's current total retirement savings = $259,000 Annual rate of return on retirement savings = 4% Tim's current annual salary = $145,000 Tim's expected annual percentage increase in salary = 2% Tim's percentage of annual...
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...