Value of inheritance =107000
Number of years =30-5=25
Rate =7%
FV of inheritance =PV*(1+r)^n =107000*(1+7%)^25 =580735.29
Additional Savings required =565000-580735.29=-15735.29 (Hence
additional savings required is 0)
Please give details of how to get the answer to full review thanks ! Problem 5-43 Retirement Savings (L03) You belie...
You believe you will need to have saved S456,000 by the time you retire in 30 years in order to live comfortably. You also believe that you will inherit $109,000 in 5 years. (Do not round intermediate calculations. Round your answers to 2 decimal places.) If the interest rate is 6% per year, what is the future value of your inheritance at retirement? Future value How much additional money must you save to meet your retirement goal assuming you save...
You believe you will need to have saved $480,000 by the time you retire in 40 years in order to live comfortably. If the interest rate is 6% per year, how much must you save each year to meet your retirement goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual savings
please answer all question with details for full review ! thanks. Problem 5-34 Annuity Due (L03) Your landscaping company can lease a truck for $8,800 a year (paid at year-end) for 5 years. It can instead buy the truck for $38.000 The truck will be valueless after 5 years. The interest rate your company can earn on its funds is 6%. a. What is the present value of the cost of leasing? (Do not round intermediate calculations. Round your answer...
You believe you will spend $42.000 a year for 18 years once you retire in 36 years. If the interest rate is 5% per year, how much must you save each year until retirement to meet your retirement goal? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Annual savings
You believe you will spend $42,000 a year for 18 years once you retire in 36 years. If the interest rate is 5% per year, how much must you save each year until retirement to meet your retirement goal? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Annual savings
skipping your daily Starbucks fix would save you $180 per month. If you invested those savings in a retirement account earning 0.25% per month compound interest, you would have an additional $166,691 saved up by time you retire. Assuming you will live 20 years after retiring, how much additional monthly income will this provide you in your retirement
You are trying to get your retirement savings in order. You plan to retire in 27 years. For retirement, you calculate that you will need $75,000 per year in today’s dollars, and that you will start taking annual withdrawals from the account 27 years from today. To be safe, you assume you will need to make 40 withdrawals (i.e., live 40 years in retirement), and you assume inflation will be 2% per year forever.You plan on contributing a fixed percentage...
a. You believe you will spend $42,000 a year for 18 years once you retire in 36 years. If the interest rate is 5% per year, how much must you save each year until retirement to meet your retirement goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
PLEASE ANSWER THIS TWO QUESTION THANK YOU Your parents will retire in 27 years. They currently have $380,000 saved, and they think they will need $2,350,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. You have $36,948.61 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $280,000....
You are trying to decide how much to save for retirement. Assume you plan to save $5,000 per year with the first investment made one year from now. You think you can earn 5.0% per year on your investments and you plan to retire in 27 years, immediately after making your last S5,000 investment. a. How much will you have in your retirement account on the day you retire? b. If, instead of investing S5,000 per year, you wanted to...