…Nicola Martin also just started working with the NCB as a sales representative and is just trying to catch up on having money for retirement.  NCB offers her a pension plan with an annuity that is guaranteed to earn 11% interest compounded Semi-annually. She plans to work for the same 12 years before retiring and would then like to be able to draw an income of $110,000 per annum for 16 years. How much must be deposited per annum into her retirement fund to accomplish this?

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Q: How long would it take for you to save an adequate amount for retirement if you deposit $40,000 per…

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A: Under compounded monthly, interest is added to the principal amount after every one month.

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A: FV is the future worth of cash flows that have occurred in the past or present.

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A: Note: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts…

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A: Time value of money (TVM) refers to the method or concept which is used to determine the amount of…

Q: 4. Micky starts a retirement account at age 32, putting away $250 each pay period, of which he has…

A: Future worth is computed by multiplying the existing value with a given interest rate.

Q: Mike Gordon wishes to have $80,000 in five years. If he can earn annual interest of 2%, how much…

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A: According to the question, fixed amount is deposited every year. So it’s the question of annuity.…

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A: "Since this question contains multiple parts, we will answer only the first part for you. Kindly…

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A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: 8. Suzy is starting college in 4 years and would like to have $4000 when she starts. She has $2500…

A: The question gives the following information:

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A:

Q: You have €42,180.53 in a brokerage account, and you plan to deposit an additional €5,000 at the end…

A: Working note:

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A: Future Value of Annuity Due refers to the concept which dictates the compounded value of a sum of…

Q: How many years will it take to reach your goal?

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A:

Q: Alejandra Marrufo wants to know how much she should deposit today, so that in 10 years she will have…

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Q: Nicola Martin also just started working with the NCB as a sales representative and is just trying to…

A: As withdrawals and deposits are in annual terms we need to calculate effective annual rate

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A: Discounting is a technique through which PV of future amount is calculated by using appropriate rate…

Q: You will retire in 26 years and can afford to put away 11 % of your salary each year. You make…

A:

Q: 1. Suppose you are paid $2400 per month and your employer's 401(k) matches your contributions by 50%…

A: Annuity refers to series of equalized payments that are paid or received at start or ending of…

Q: Nicola Martin also just started working with the NCB as a sales representative and is just trying to…

A: The calculation is:

Q: Saving up for her retirement Mr. Arta begins making deposits of  $3,000 at the end of every 3 months…

A: Future value = Present value * (1+ Rate of interest) time

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A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: a. Suppose that between the ages of 22 and 32, you contribute $7000 per year to a 401(k) and your…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: Your employer automatically puts 5 percent of your salary into a 401(k) retirement account each…

A: The series of payments discussed here is a form of annuity with growth.

Q: .Your client wants to have $2 million in her retirement account in 20 years. How much should the…

A: future value = 2,000,000 annual rate = 8% n = time period = 20 annuity in excel model is annual…