4. You plan to retire in 35 years and would like to have $1.5 million in...
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
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4. You plan to retire in 35 years and would like to have $1.5
million in...
Using HP 10b11 financial calculator. Need Variables to input into cal. You plan to retire in...
Using HP 10b11 financial calculator. Need Variables to input into cal. You plan to retire in 40 years and would like to have $2,000,000 in your savings account when you do. (a) What amount would you have to add to your savings account at the end of each year for the next 35 years to achieve your goal if you thought that you could earn a 8% annual rate of return? (b) What amount would you have to add at...
You are planning for your retirement and have decided the following: you will retire in 35...
You are planning for your retirement and have decided the following: you will retire in 35 years and would like to have $8,000 per month as retirement income for 30 years of retirement. You have access to an account that earns a 7% rate of return. a. How much will you need to have when you retire to be able to withdraw the desired $8,000 per month during your years of retirement? (Round your answer to the nearest cent) b....
You would like to start saving for retirement and you have 40 years until the planned...
You would like to start saving for retirement and you have 40 years until the planned retirement date. Each year, during your retirement years (assume 30 years), you would like to spend an amount equivalent to the purchasing power of $50,000 today. You estimate that the expected rate of return on some recommended investment portfolio is 8%AER and you plan to select that portfolio during the working (savings) years. Assume 4%AER yield on your investments during retirement years. The annual...
you want a one million dollar nest egg when you retire. At present, you have $30,000...
you want a one million dollar nest egg when you retire. At present, you have $30,000 saved and would like to retire in 20 years. to reach your goal, you have arbitrarily chosen to set aside $300 a month towards your goal. if you stay on track with your current plan, assuming an average annual return of 6%, how much will you have saved by retirement?
You want to have $3 million in real dollars in an account whenyou retire in...
You want to have $3 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is 13 percent and the inflation rate is 3.5 percent. What real amount must you deposit each year to achieve your goal?$8,463.06$2,959.44$8,886.21$8,801.58$8,039.91
Module #6 Hand - In Assignment 1. An article on saving for retirement estimates that a...
Module #6 Hand - In Assignment 1. An article on saving for retirement estimates that a 35 year old will need 1.2 million to retire at age 65. a. How much money should you deposit today to reach that goal if your investments will return 8% compounded semi-annually. b. You currently have only $80,000 in your retirement savings plan what semi-annual rate of return do you need to reach your retirement goal? (assume same return as a) c. You estimate...
You have just turned 40 and you plan to save for retirement. You plan to retire...
You have just turned 40 and you plan to save for retirement. You plan to retire in 20 years. Once you retire you would like to have an income of $80,000 per year for the next 10 years. Determine the amount you must deposit at the beginning of each year to finance your retirement income. Use the following assumptions to determine this annual deposit: All savings compound at a rate of 12% per year. You make the first deposit today...
You are 35 years old, and have not saved any money yet. You hope to retire...
You are 35 years old, and have not saved any money yet. You hope to retire at age 65, with a sustainable income of $150,000 per year of current buying power. You assume that inflation will be 3.1% and the fund you want to invest in will return 7.94% per year from now until your death. a) What is your real rate of return? ______ b) How much money do you need in today's dollars to reach your income goal?...
1. You would like to save $70 000 in 10 years. To accumulate this amount, you...
1. You would like to save $70 000 in 10 years. To accumulate this amount, you plan to make a regular deposit with an equal amount of cash into a saving account at the end of each year. This account will earn 6% p.a interest compounded annually. Your first payment will be made at the end of this year. a. How much must you deposit annually to accumulate this amount in 10 years? b. If you decide to make a...
Today is your 25th birthday (Happy Bday!). You plan on retiring 35 years from today. Every...
Today is your 25th birthday (Happy Bday!). You plan on retiring 35 years from today. Every month you work, starting today (t=0), you wish to put an equal amount of money into a savings account with your last deposit on the day you retire. After you retire, you will need to withdraw $10,000 a month with your last withdrawal on your 80th birthday (first withdrawal is one month after you retire). Also when you turn 80, you plan on giving...
You would like to start saving for retirement and you have 40 years until the planned retirement date. Each year, during your retirement years (assume 30 years), you would like to spend an amount equivalent to the purchasing power of $50,000 today. You estimate that the expected rate of return on some recommended investment portfolio is 8%AER and you plan to select that portfolio during the working (savings) years. Assume 4%AER yield on your investments during retirement years. The annual...
Module #6 Hand - In Assignment 1. An article on saving for retirement estimates that a 35 year old will need 1.2 million to retire at age 65. a. How much money should you deposit today to reach that goal if your investments will return 8% compounded semi-annually. b. You currently have only $80,000 in your retirement savings plan what semi-annual rate of return do you need to reach your retirement goal? (assume same return as a) c. You estimate...
1. You would like to save $70 000 in 10 years. To accumulate this amount, you plan to make a regular deposit with an equal amount of cash into a saving account at the end of each year. This account will earn 6% p.a interest compounded annually. Your first payment will be made at the end of this year. a. How much must you deposit annually to accumulate this amount in 10 years? b. If you decide to make a...
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