Question 13 (2 points) You are currently 30 years old and would like to retire at...
You plan to retire at age 65, you are 30 years old; and you wish to save for an annuity, which will payout $50,000 a year for 20 years when you retire. Approximately, how much should you start saving annually for retirement; given a rate of 5% for the annuity and the same rate for your savings investment fund? A.$6,898.90 B.$9,064.99 C.$6,894.89
Question 16 (1 point) You would like to retire in 15 years. Starting in 15 years you will receive your first of 180 monthly payments of $2,000. You will pay for your retirement by making monthly deposits for 15 years starting today. Find the size of these deposits if your funds will earn J12 = 12%
You would like to retire in 16 years. Starting in 16 years you will receive your first of 198 monthly payments of $2,000. You will pay for your retirement by making monthly deposits for 16 years starting today. Find the size of these deposits if your funds will earn J12 =12%
10. Assume that you are now 25 years old. You would like to retire at age 65 and have a retirement fund of $5,000,000 at the time of your retirement. You have already $50,000 at age 25 in the retirement account. You expect to earn 7% per year. The amount of money you must set aside each month to reach your retirement goal is: A. $4,377.98 B. $1594.18 C. $3500.00 D. $2500.00
Problem 7 (12 marks) You are currently 25 years old and have decided to start paying into your registered retirement plan. You will start to deposit $125 at the end of each month starting with this month until you are 60 years old and you retire. If interest rates are expected to be 5% compounded monthly from the time you are 25 until you are 40 and then are 6% compounded monthly until you retire at 60. a. How much...
4. You plan to retire in 35 years and would like to have $1.5 million in your savings account when you do. What annual rate of return would you need to achieve to reach your goal if you thought you could deposit $8,000 in your investment account at the end of each year for the next 35 years
(2 pts) Larry would like to retire in 25 years. He currently has $150,000 in his retirement account and is planning on depositing an additional $800 each month in his retirement account. If Larry can earn an average APR of 7% per year compounded monthly, how much money will be in his retirement account after 25 years? 3)
3) (2 pts) Larry would like to retire in 20 years. He currently has $150,000 in his retirement account and is planning on depositing an additional $800 each month in his retirement account. If Larry can earn an average APR of 7% per year compounded monthly, how much money will be in his retirement account after 20 years?
You have decided that you would like to retire in 30 years and have 2,500,000 in your retirement fund. your broker has told you that if you invest in stocks your rate of return will be 10%, and if you invest in bonds your rate of return will be 8%. calculate how much you would have to save each year under each investment plan to accumulate 2,500,000? ______Stocks ______Bonds
John starts his career at 21 years old and expects to retire 44 years later at the age of 65. His first annual salary is $72,000 that will increase at 1.5% per year until he finishes his part-time MBA at 28 years old. With his MBA, John expects salary to increase at 3% per year until retirement. At the end of each year, he deposits 10% of his annual salary into a retirement saving plan that pays 6% interest per...