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Show work please 9. Patricia and Scott are ready to retire. They want to receive the...
Luis needs an income stream equivalent to $30,000 in today’s dollars at the beginning of each year for the next 12 years to maintain his standard of living. He assumes that inflation will average 5% over the long run and that he can earn a 7% compound annual after-tax return on investments. What lump sum does Luis need to invest today to fund his needs? A: $322,303.99 B: $325,202.39 C: $355,098.45 D: $392,934.13
Your client, Sal, wants to receive $10,000 in today’s dollars at the beginning of each of the next 4 years. Inflation will average 5% and Sal assumes he can make 8% annually after-tax. Sal would like to invest a lump sum today to fund his need. How much must he invest today to accomplish his goal?
When you retire 50 years from now, you want to have $2,000,000 million. You think you can earn an average of 8 percent on your investments. To meet your goal, you are trying to decide whether to deposit a lump sum today, or to wait and deposit a lump sum 2 years from today. How much more will you have to deposit as a lump sum if you wait for 2 years before making the deposit? Group of answer choices...
You fell that you can retire, if you have the equivalent of $2 million of today’s purchasing power in your retirement account when you retire. Currently, you have $50,000 in this account and you anticipate that your investments will earn an average return of 6% per year (APR with monthly compounding). You expect to inflation to average 2% per year (also APR with monthly compounding). You want to retire exactly 30 years from today. You plan to start putting the...
please just reply with the answer to the question. i do not want to see any number or equations, just the number answer to the question. Question 1 1 pts Let's say your clients currently spend $80,000 (in today's dollars), and they want to spend 90% of that in retirement. If your clients are currently 44 years old and want to retire when they are 65, how much will their first year of retirement expenses be (in future dollars)? Assume...
You want to retire exactly 40 years from today. Your assumptions for valuation are as follows: -you choose 10% as your average annual return for investments made prior to retirement -you choose 6% for all investments held through retirement -you want your annual income through retirement to be $150,000-inflation is not a consideration -you want your retirement income payments to last for 20 years after which the account balance will be $0.00. a. How much do you need saved at...
please reply with only the number answer to the underlined question. i do not want to see any other equations or numbers. just the answer to the underlined questions. thank you. Question 5 1 pts Your clients want help figuring out how much they need to save each month so that they can reach their retirement goal. If your clients are currently 37 years old and want to retire when they are age 63, how much do they need to...
please with steps 2.) Brent and Sharon are getting close to retirement and want to make sure they are on track for a comfortable lifestyle. They currently make $120,000 per year in gross income. They pay FICA taxes of $9.180; have commuting expenses of S2,000 per year, Uniform expenses (inc, dry cleaning) of $1,200 per year, a monthly mortgage payment of S950 per month and will be paid off in 10 more years. They eat lunch out at work often...
Question 5 1 pts Your clients want help figuring out how much they need to save each month so that they can reach their retirement goal. If your clients are currently 40 years old and want to retire when they are age 68, how much do they need to save at the end of each month to reach their goal? They currently have $190,000 saved for retirement. Assume the following: • Your clients currently spend $100,000 (in today's dollars), and...
Question 4 1 pts Your clients want help figuring out how much they need to save each month so that they can reach their retirement goal. If your clients are currently 37 years old and want to retire when they are age 62, how much do they need to save at the end of each month to reach their goal? They currently have $180,000 saved for retirement. Assume the following: • Your clients currently spend $70,000 (in today's dollars), and...