You want to be able to withdraw $40,000 from your account each year for 30 years...

Question

Question

Answer 1

Answer #1

Step-1 Find tha branent valua o withdraols $40.000 per year far 30years at inlarat rata .1. Cash flouo L-CI+r Present valua C

Answer 2

Similar Homework Help Questions

You want to be able to withdraw $45,000 from your account each year for 30 years...

You want to be able to withdraw $45,000 from your account each year for 30 years after you retire. If you expect to retire in 15 years and your account earns 7.7% interest while saving for retirement and 7.5% Interest while retired: Round your answers to the nearest cent as needed. *) How much will you need to have when you retire? b) How much will you need to deposit each month until retirement to achieve your retirement goals? How...
You want to be able to withdraw $35,000 from your account each year for 15 years...

You want to be able to withdraw $35,000 from your account each year for 15 years after you retire. If you expect to retire in 25 your account earns 6.2% interest while saving for retirement and 5.4% interest while retired: and years Round your answers to the nearest cent as needed. a) How much will you need to have when retire? you S b) How much will you need to deposit each month until retirement to achieve your retirement goals?...
You want to be able to withdraw $20,000 from your account each year for 30 years...

You want to be able to withdraw $20,000 from your account each year for 30 years after you retire. You expect to retire in 25 years. If your account earns 10% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?

You want to be able to withdraw $50,000 each year for 20 years. Your account earns...

You want to be able to withdraw $50,000 each year for 20 years. Your account earns 10% interest. a) How much do you need in your account at the beginning? $ b) How much total money will you pull out of the account? $ c) How much of that money is interest?
You want to be able to withdraw $20,000 each year for 15 years. Your account earns...

You want to be able to withdraw $20,000 each year for 15 years. Your account earns 7% interest. a) How much do you need in your account at the beginning? $ b) How much total money will you pull out of the account? $ c) How much of that money is interest? $
You want to withdraw $11,200 per month for 30 years when you retire, then you expect...

You want to withdraw $11,200 per month for 30 years when you retire, then you expect to pass on. You plan to retire in 40 years, and expect to earn a return of 11.2 percent until then. You will make monthly deposits to fund your retirement account. Immediately after you make your last deposit, you plan to withdraw $80,000 to take an around the world trip. You also wish to leave your grandchildren $1,200,000 when you pass on. You will...

11. Consider a retirement planning account where you want to be able to withdraw $3500 each...

11. Consider a retirement planning account where you want to be able to withdraw $3500 each month for 25 years assuming your account earns 9.25% APR compounded monthly i. (4 points) How much do you need in your account at the beginning (P)?
For your retirement planning, you are currently depositing $350 per month into an account that earns...

For your retirement planning, you are currently depositing $350 per month into an account that earns an 8% return, compounded monthly. In 12 years, you expect to increase that deposit by $250 per month (to a total of $600 per month). You plan to retire in 40 years. After you retire, you will move the money into a safe account that earns a guaranteed 3.5% per year. How much will you have when you retire? If you expect to live...
Suppose you want to have $300,000 for retirement in 30 years. Your account earns 10% interest....

Suppose you want to have $300,000 for retirement in 30 years. Your account earns 10% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn?

Suppose you are exactly 25 years old and you are planning to save for your retirement...

Suppose you are exactly 25 years old and you are planning to save for your retirement which will happen in 40 years. You plan to deposit equal amount at the beginning of each month in your retirement account with the first saving made today. Assume the retirement account pays you 6% p.a. compounded monthly. (a) If you would like to have $1,000,000 in your retirement account 40 years later when you are retired, how much will you have to deposit...