Homework Answers
| PVOrdinary Annuity = C*[(1-(1+i/100)^(-n))/(i/100)] |
| C = Cash flow per period |
| i = interest rate |
| n = number of payments |
| 464900= Cash Flow*((1-(1+ 4.5/1200)^(-27*12))/(4.5/1200)) |
| Cash Flow = 2481.27 |
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10. You retire at age 60 and expect to live another 27 years. On the day...
You want to retire at age 60 and expert to live another 30 years. On the...
You want to retire at age 60 and expert to live another 30 years. On the day you retire you will have GHC 400,900 in your retirement savings account. You are conservative and expect to earn 5% on your money during your retirement. How much can you withdraw from your retirement savings account each month if you plan to die on the day you spend your last penny? (3 marks)
Please answer all parts with work 2. You retire at age 60 and expect to live...
Please answer all parts with work
2. You retire at age 60 and expect to live another 23 years. On the day you retire, you have $568,900 in your retirement savings account. You are conservative and expect to earn 5.2% on your money during your retirement. How much can you withdraw from your retirement savings each month if you plan to die on the day you spend your last penny? i. (15 pts) Write down the discounted cash flow equation....
0.7 Pat retires at age 58 and expects to live to age 90. On the day...
0.7 Pat retires at age 58 and expects to live to age 90. On the day she retires, she has $287.409 in her retirement savings account. She is conservative and expects to earn 5.25% on her money during her retirement years. How much can she withdraw from her retirement savings each month if she plans to die on the day she spends her last penny? A. $1,359.79 B. $1,364.18 C. $1,540.01 D. $1,546.75 E. $1,702.11
On the day you retire you have $1,000,000 saved. You expect to live another 25 years...
On the day you retire you have $1,000,000 saved. You expect to live another 25 years during which time you expect to earn 6.19% on your savings while inflation averages 2.5% annually. Assume you want to spend the same amount each year in real terms and die on the day you spend your last dime. What real amount will you be able to spend each year?
11) Nadine is retiring today at age 66 and expects to live to age 82. She...
11) Nadine is retiring today at age 66 and expects to live to age 82. She has $136,000 in her 1) retirement savings account. She is somewhat conservative with her money and expects to earn 6 percent during her retirement years. How much can she withdraw from her her death? t savings each month if she plans to spend her last penny on the morning of A) $909.92 B) $1,416.08 C) $847.78 D) $1,103.56 E) S919.46
When you retire you expect to live for another 30 years. At the time your retire,...
When you retire you expect to live for another 30 years. At the time your retire, you want to be able to withdraw $8,250 per month and you can earn 3.75% per year on your investment. How much money do you need at the time you retire to be able meet your needs? 4.
Your retirement plan: You hope to retire at age 62, and according to actuarial tables, you expect to live for 20 more years. You know of an investment option that will yield 4% annually compounded co...
Your retirement plan: You hope to retire at age 62, and according to actuarial tables, you expect to live for 20 more years. You know of an investment option that will yield 4% annually compounded continuously, and you plan to withdraw $50,000 per year in retirement, for 20 years. How much money will you need to have in the account at the beginning of retirement so that you can withdraw $50,000/year for 20 years? Begin your solution with letting R(t)...
Question 18 (3.5 points) You plan to retire 33 years from now. You expect that you...
Question 18 (3.5 points) You plan to retire 33 years from now. You expect that you will live 29 years after retiring. You want to have enough money upon reaching retirement age to withdraw $150,000 from the account at the beginning of each year you expect to live, and yet still have $2,300,000 left in the account at the time of your expected death (62 years from now). You plan to accumulate the retirement fund by making equal annual deposits...
6) Nana just retired at the age of 62 and expects to live until she is...
6) Nana just retired at the age of 62 and expects to live until she is 85 years old. She has $402,000 in her retirement savings account. She is somewhat conservative with her money and expects to earn 6 percent during her retirement years. How much can she withdraw from her retirement savings at the end of each month if she plans to spend her last penny on the morning of her death? b) Nana has some extra cash on...
6) a) Nana just retired at the age of 62 and expects to live until she...
6) a) Nana just retired at the age of 62 and expects to live until she is 85 years old. She has $402,000 in her retirement savings account. She is somewhat conservative with her money and expects to earn 6 percent during her retirement years. How much can she withdraw from her retirement savings at the end of each month if she plans to spend her last penny on the morning of her death? b) Nana has some extra cash...
You want to retire at age 60 and expert to live another 30 years. On the day you retire you will have GHC 400,900 in your retirement savings account. You are conservative and expect to earn 5% on your money during your retirement. How much can you withdraw from your retirement savings account each month if you plan to die on the day you spend your last penny? (3 marks)
Please answer all parts with work
2. You retire at age 60 and expect to live another 23 years. On the day you retire, you have $568,900 in your retirement savings account. You are conservative and expect to earn 5.2% on your money during your retirement. How much can you withdraw from your retirement savings each month if you plan to die on the day you spend your last penny? i. (15 pts) Write down the discounted cash flow equation....
0.7 Pat retires at age 58 and expects to live to age 90. On the day she retires, she has $287.409 in her retirement savings account. She is conservative and expects to earn 5.25% on her money during her retirement years. How much can she withdraw from her retirement savings each month if she plans to die on the day she spends her last penny? A. $1,359.79 B. $1,364.18 C. $1,540.01 D. $1,546.75 E. $1,702.11
11) Nadine is retiring today at age 66 and expects to live to age 82. She has $136,000 in her 1) retirement savings account. She is somewhat conservative with her money and expects to earn 6 percent during her retirement years. How much can she withdraw from her her death? t savings each month if she plans to spend her last penny on the morning of A) $909.92 B) $1,416.08 C) $847.78 D) $1,103.56 E) S919.46
When you retire you expect to live for another 30 years. At the time your retire, you want to be able to withdraw $8,250 per month and you can earn 3.75% per year on your investment. How much money do you need at the time you retire to be able meet your needs? 4.
Your retirement plan: You hope to retire at age 62, and according to actuarial tables, you expect to live for 20 more years. You know of an investment option that will yield 4% annually compounded continuously, and you plan to withdraw $50,000 per year in retirement, for 20 years. How much money will you need to have in the account at the beginning of retirement so that you can withdraw $50,000/year for 20 years? Begin your solution with letting R(t)...
Question 18 (3.5 points) You plan to retire 33 years from now. You expect that you will live 29 years after retiring. You want to have enough money upon reaching retirement age to withdraw $150,000 from the account at the beginning of each year you expect to live, and yet still have $2,300,000 left in the account at the time of your expected death (62 years from now). You plan to accumulate the retirement fund by making equal annual deposits...
6) Nana just retired at the age of 62 and expects to live until she is 85 years old. She has $402,000 in her retirement savings account. She is somewhat conservative with her money and expects to earn 6 percent during her retirement years. How much can she withdraw from her retirement savings at the end of each month if she plans to spend her last penny on the morning of her death? b) Nana has some extra cash on...
6) a) Nana just retired at the age of 62 and expects to live until she is 85 years old. She has $402,000 in her retirement savings account. She is somewhat conservative with her money and expects to earn 6 percent during her retirement years. How much can she withdraw from her retirement savings at the end of each month if she plans to spend her last penny on the morning of her death? b) Nana has some extra cash...
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