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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
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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

File Home nert Page Layout Formulas Data Review View dd-Ins Cut Σ AutoSum Calibri ー E ゴWrap Text General aCopy ,_a. ars-函Merge & Center, $, % , 弼,8 C Paste B 1 u. Conditional Format CeInsert Delete Format Formatting as Table Styles2 Clear Sort &Find & Format Painter Clipboard Font Alignment Number Styles Cells Edting NM46 NM NO NP NQ NR NS NT NU NV NW 31 32 34 35 STEP 1 36 37 38 39 40 STEP 2 41 42 43 ANSWER PMT YEARS POST RETIREMENT RATE PRESENT VALUE OF ANNUITY 12000 25 10% 108924.48 EXCEL PV(NO37,NO36,-NO35) FUTURE VALUE TO BE ACCUMULATED YEARS PRE RETIREMENT RATE ANNUAL DEPOSIT 108924.48 20 3% $2,380.24 EXCEL PMT(NO42,NO41,,-NO40) 45 46 47 48 49 CALCULATOR | LOAN OPTIONS fv. ann CAP STRU VALUE BOX DILUTION DOLLAR COST AVGMORTGAGE EXPO Sheeti Sheet2 Shel 08:22 28-01-2019

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