Here is solution of your question. If doubt please discuss.All the best
Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirem...
Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, she contributes $3,300 per year. She increases the contribution rate to $5,300 per year in years 11 through 20. This is followed by increases to $10,300 per year in years 21 through 30 and to $15,300 per year for the last ten years. This money earns a return of 9 percent. First...
Problem 5-57 Spreadsheet Problem (LG5-2, LG5-9) Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, she contributes $3,600 per year. She increases the contribution rate to $5,600 per year in years 11 through 20. This is followed by increases to $10,600 per year in years 21 through 30 and to $15,600 per year for the last ten years. This money earns...
pls compute throughly and properly Problem 5-57 Spreadsheet Problem (LG5-2, LG5-9) Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, the contributes $3.700 per year. She increases the contribution rate to 55700 per year in years through 20. This is followed by increases to $10.700 per year in years 21 through 30 and to $15.700 per year for the last ten...
pls be simple and clear with the answer and explanation. Problem 5-57 Spreadsheet Problem (LG5-2, LG5-9) Consider a person who begins contributing to a retirement plan at age 25 and contributes for 40 years until retirement at age 65. For the first ten years, she contributes $3.700 per year. She increases the contribution rate to $5,700 per year in years 11 through 20. This is followed by increases to $10,700 per year in years 21 through 30 and to $15,700...
i need help anyone Problem 4-14 Present Value with Different Discount Rates (LG4-4) Compute the present value of $4,700 paid in two years using the following discount rates: 9 percent in the first year, and 8 percent in the second year. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) points Present value Problem 5-19 Future Value of Multiple Annuities (LG5-2) Assume that you contribute $320 per month to a retirement plan for 20 years. Then you...
You are 25 years old, having just started working. You are considering a retirement plan for a retirement at the age of 65. You want to be able to withdraw $76,000 from your savings account on each birthday for 20 years following your retirement at the age of 65. Your first withdrawal will be on your 66th birthday. To achieve your goal, you intend to make equal annual deposits in a pension scheme which offers 7% interest per year. According...
Lena has just become eligible to participate in her company's retirement plan. Her company does not match contributions, but the plan does average an annual return of15% Lena is 40 and plans to work to age 65. If she contributes $170 per month, how much will she have in her plan at retirement? When Lena retires, the amount she will have in her retirement plan is $?
CASE PROBLEM: RETIREMENT PLAN Tim is 37 years old and would like to establish a retirement plan. Develop a spreadsheet model that could be used to assist Tim with retirement planning. Your model should include the following input parameters: Tim's current age = 37 years Tim's current total retirement savings = $259,000 Annual rate of return on retirement savings = 4% Tim's current annual salary = $145,000 Tim's expected annual percentage increase in salary = 2% Tim's percentage of annual...
Larry and Beth are both married, working adults. They both plan for retirement and consider the $6,000 annual contribution a must. First, consider Beth's savings. She began working at age 20 and began making an annual contribution to her IRA of $6,000 each year until age 32 (12 contributions). She then left full time work to have children and be a stay at home mom. She left her IRA invested and plans to begin drawing from her IRA when she...
An individual is currently 30 years old and she is planning her financial needs upon retirement. She will retire at age 65 (exactly 35 years from now) and she plans on funding 20 years of retirement with her investments. Ignore any social security payments and ignore any taxes. She made $106,000 last year and she estimates she will need 75% of her current income in today's dollars to live on when she retires. She believes that inflation will average 3...