Question

ed amount of money 9-15 Paul Liles is 50 years old and he decides to set aside a fixed amount every year in a pension plan. He wants to start the plan now and continu he is 65 years of age (or 15 years). The money accumulated must alla to receive $3,000 per month, starting one month after his 65th birthday continuing for 20 years to age 85. If the money is invested at 10 percent how much does Mr. Liles need to set aside each month to meet his goal? Assume 10 percent discount rate for entire period.

Answer 1

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PV, FV, ANNUITY (Autosaved) - Microsoft Excel (Product Activation Failed) Review View Add-Ins Formulas Data - 2x 11 Dr General AA = = = A Wrap Text Merge & Center - $ :.: Insert Delete Format % , Number Cell Styles File Home Insert Page Layout % Cut Calibri Ea Copy Paste BIU - D Format Painter Clipboard Font DG247 fax DD DE 228 Conditional Format Formatting as Table Styles Σ AutoSum : A Fill Sort & 2 Clear Filter Editing Find & Select Alignment Cells DG DH DI 229 230 231 232 233 20 234 PRESENT VALUE OF RETIREMENT MONEY PMT 3000 YEARS RATE 10% NO OF MONTHS 240 MONTHLY RATE 0.8333333% AMOUNT TO BE ACCUMULATED 310873.86 [=PV(DG236,DG235,-DG232)] 235 236 237 238 239 240 241 310873.86 15 242 NOW THIS WILL BE COME FUTURE VALUE YEARS RATE no of months monthly rate PMT 10% 180 0.833333% 750.05 [=PMT(DG244,DG243,-DG240)] ANSWER 243 244 245 246 247 248 CAP STRU VALUE profit margin loan with points LOCK BOX DILUTION DOLLAR COST AVG EXPO NPER APR CPI ear FVA pva s2 pv, fv, annuity ferences 53 | STATE 56 57 BOU 120% Rea _ 6. B 9 . * * *O ENG 30-10-2019