PMT =4800
Rate Per month =4.8%/12 =0.4%
Number =25*12 =300
The Amount of retirement income =PMT*((1-(1+r)^-n)/r)
=4800*((1-(1+0.4%)^-300)/0.4%) =837700.78
The nest egg size =837700.78
You plan to work for 40 years and then retire using a 25-year annuity. You want...
You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4700 per month. You have access to an account that pays an APR of 4.8% compounded monthly. What size nest egg do you need to achieve the desired monthly yield? (Round your answer to the nearest cent.)
You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4000 per month. You have access to an account that pays an APR of 7.2% compounded monthly. This requires a nest egg of $555,873.10. What monthly deposits are required to achieve the desired monthly yield at retirement? (Round your answer to the nearest cent.) eBook
Suppose you want to save in order to purchase a new boat. Take the APR to be 6.0%. If you deposit $250 each month, how much will you have toward the purchase of a boat after three years? (Round your answer to the nearest cent.) You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4300 per month. You have access to an account that pays an APR of 4.8%...
What size nest egg do we need in order to retire with a 20-year annuity that yields $5000 per month if the retirement account pays an APR of 6%?
You begin working at age 25, and your employer deposits $350 each month into a retirement account that pays an APR of 6% compounded monthly. Complete the following table to show the size of your nest egg in terms of the age at which you retire. Include retirement ages every year from 60 to 70 years old. (round your answers to the nearest cent.)
You wish to retire in 40 years, at which time you want to have accumulated enough money to receive a monthly annuity of $12,000 for 25 years after retirement. During the period before retirement you can earn 9% compounded annually, while after retirement you can earn 10% on your money. What annual contributions to this retirement fund will allow you to receive the $12,000 monthly annuity?
We are considering the effects of starting early or late to save for retirement. Assume that each account considered has an APR of 6% compounded monthly. Against expert advice, you begin your retirement program at age 40. You plan to retire at the age of 65. What monthly contributions do you need to make to save up a nest egg of $187,799.63? (Round your answer to the nearest cent.)
You want to have $282,000.00 when you retire 28 years for an annuity. How much money should be deposited at the end of monthly in an investment plan that pays 6.8% compounded monthly, so you will have the $282,000.00 in 28 years? The monthly payments need to be $. (Round to 2 decimal places.)
You plan to retire in year 21 Your retirement will last 25 years starting in year 21 You want to have $50,000 each year of your retirement. How much would you have to invest each year, starting in one year, for 15 years , to exactly pay for your retirement ,if your investments earn 6.00% APR (compounded annually)? Calculate your answer to the nearest dollar. Write only the number with no dollar sign or comma (e.g., 3711)
You plan to retire in year 21 Your retirement will last 25 years starting in year 21 You want to have $50,000 each year of your retirement. How much would you have to invest each year, starting in one year, for 15 years , to exactly pay for your retirement ,if your investments earn 6.00% APR (compounded annually)? Calculate your answer to the nearest dollar. Write only the number with no dollar sign or comma (e.g., 3711)