After graduating from school, Carl, 30 years old, wants to make a retirement plan for his future with the 50000$ money his father gave him for graduation. In this retirement planning, he wants to pay the plan's payments in cash, the amount his father gave him, and pay the rest in 20 equal annual installments. In the pension plan, the retirement age is set at 70. He wants 300000 $ retirement bonus in the year he retires, 200000 $ death guarantee for life after retirement, and also 25000 $ pension for 10 years at the beginning of each year in his retirement. Interest rate is 6% and according to 1958 CSO Mortality table 1. Find the annual premium payments.

Q: A civil engineer planning for her retirement places 11% of her salary each year into a…

A: First year retirement fund deposit (D1) = $180000 * 11% = $19800 Growth rate (g) = 2% n = 13 years r…

Q: Bill plans to fund his individual retirement account (IRA) with the maximum contribution of $2,000…

A: Ordinary annuity refers to the set of periodic payments that a depositor makes into an investment…

Q: If the student purchases a ​$1000 Roth IRA when he is 25 years old and expects to earn an average…

A: Given information Purchase of Roth IRA =$1000 Interest rate =10% per year compounded annually Time…

Q: A civil engineer planning her retirement will deposit 10% of her salary each year into a…

A: Using formulae, Future Value =Present Value * (1+rate)^n Where n = no. of years till end

Q: Macon would like to begin planning for retirement. He has as of his 60th birthday collected $200,000…

A: We will have to use the concept of time value of money here.  As per the concept of time value of…

Q: Evan would like to have $2,000,000 saved by the time he retires in 40 years. How much does he need…

A: Given details are : Future value of savings = $2000000 Time period = 40 years Interest rate = 110%…

Q: A father, whose dream is to see his son grow up to be an engineer, plans to invest a certain sum…

A: given, Annuity ( A)= $15000 rate (r) =12% n = 9 (10th to 18 th year)

Q: Molly Lincoln, a 30-year-old personal loan officer at First National Bank, understands the…

A: 1) Hence, the account balance after 65 years is $1021906.79.

Q: Una Day is planning to retire in 20 years, at which time she hopes to have accumulated enough money…

A: Retirement fund:  A retirement fund is a particular fund into which people contribute money in order…

Q: James plans to fund his individual retirement account, beginning today, with 20 annual deposits of…

A: Future Value:   The future value is the amount that will be received at the end of a certain period.…

Q: Michelle is 25 years old and has decided to start a retirement program. Beginning in exactly one…

A: Time period is 30 years Annual savings are $15,000  Interest rate is 4% To Find: Amount saved for…

Q: Sally is 25 years old and has decided to start a retirement program. Beginning in exactly one year,…

A: We need to use future value of ordinary annuity formula to calculate total saving value at the time…

Q: A couple will retire in 40 years; they plan to spend about $35,000 a year in retirement, which…

A: Now problem needs to solved in two steps first calculate Present value of retirement fund and next…

Q: Bill O’Brien would like to take his wife, Mary, on a trip three years from now to Europe to…

A: Future value:

Q: Joanna is making a financial plan for her retirement. Today is her 35th birthday, and she receives…

A: Present Value(PV) is value of amount of series of amount that is paid or received at future date. It…

Q: Ms. Ieda Silva plans to retire in 28 years and expects to live for 25 years after retirement. She is…

A: we can use discounting techniques to value the monthly deposits.

Q: Anthony is 30 years old and just received an inheritance from his parents' estate. He wants to…

A: Annuity is the term used for a payment if it is done repeatedly.

Q: . Agunton is planning for her retirement. He is 30 years old today and would like to have N500,000…

A:

Q: A couple will retire in 50 years; they plan to spend about $30,000 a year in retirement, which…

A: Time value of money is the concept widely followed by the management and many companies to determine…

Q: f Danny plans to retire at age 65, and will therefore make 45 payments into the fund, how much is…

A: Time value of money: Time value of money refers to the concept that the value of money available at…

Q: At the age of 25 Riley starts saving for retirement. If his investment plans pay an APR of 6%…

A: We will use the concept of time value of money here. As per the concept of time value of money the…

Q: A couple just got married and they are both 25 years of age.  They each plan to retire in 40 years…

A: Amount Required after retirement =200000 per  year After retirement years (n1) =20 Interest Rate(r)…

Q: How much should you save at the end of each year from year 36 through 65 such that you have the…

A: Caclulate the present value of future withdrawals at t=66. This amount becomes the future value for…

Q: After graduating from school, Carl, 30 years old, wants to make a retirement plan for his future…

A: As your question contains multiple sub-parts, we would be answering only first three. For the…

Q: Beth is 35 years old and wants to set up a payout annuity. She plans to retire at age 65 and wants…

A: COLA Rate after inflation=2.9*1.029=2.98% First payout=$24000 Years=20 Present value of all payout=?

Q: John is currently 25 years old. He has $10,000 saved up and wishes to deposit this into a savings…

A: Present Value:   The present value is the value of the sum received at time 0 or the current period.…

Q: Matt Christopher is a 30-year-old mechanical engineer, and his salary next year will be $80,000.…

A: Computation of the amount that will be saved by Matt Christopher at the age of 60 years is shown:

Q: Suleman plans to fund his retirement plan and targeting to get OMR 50,000 at the end of 9th year,…

A: Computation:

Q: Your father is 50 years old and will retire in 10 years. Heexpects to live for 25 years after he…

A: An Annuity is a stream of regular periodic payments made or received for a specified period of time…

Q: Mr. and Mrs. Hennesy met with their adviser and concluded that they would need $40,000 per year…

A: in this we have to calculate amount of retirement needed and calculate the present value of that.

Q: A woman is planning for retirement in 30 years and decides she can deposit $6,000 each year on…

A: An Annuity Due is a stream of regular periodic payments made at a beginning of period for a…

Q: John, a 25-year-old teacher, wants to start saving for his retirement. John wants a comfortable…

A: Given:

Q: A couple will retire in 50 years; they plan to spend about $32,000 a year in retirement, which…

A: Given information : Time to retire (years) 50 Periodic expense during retirement $32,000…

Q: Mr. Arman has decided to start saving for his retirement. Beginning on his twenty-sixth birthday,…

A: It is required to find the future value in the accounts of Mr. A and Mr. J to know who will be…

Q: John is 20 years old now (t=0). He wants to retire on his 50th birthday (t=30) with $1 million on…

A: The Future Value of annuity: The one million dollars that John wants when he retires is the Future…

Q: An individual who makes $32,000 per year anticipates retiring in 30 years. If his salary is…

A: Future Value is the value of current investments at a certain future date at the assumed…

Q: Ed wants to start saving for retirement by investing in his 401(k). Over the next 30 years, he wants…

A: Annuity means no. of finite payments which are same in size and made in equal intervals for the…

Q: A couple will retire in 50 years; they plan to spend about $32,000 a year in retirement, which…

A: The present value is the current value of the amount which is expected to be received in future at a…

Q: f Sarah’s retirement plan earns 5.75% compounded monthly, what amount will she have when she turns…

A: Future Value: It is the future worth of the investment or cashflows at a future point in time,…

Q: Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start saving $A per year…

A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…

Q: Charlie wants to retire in 15 years, and he wants to have an annuity of $50,000 a year for 20 years…

A: Annuity refers to a series of payment made at a regular interval of time. We need to use the concept…

Q: Aji who is now 25 years old, wants to buy a retirement plan starting at the age of 55 year with an…

A: In the given question, the future value of annuity is $ 3,000,000.   Annual Payments will be paid…

Q: Don Harrison's current salary is $60,000 per year, and he is planning to retire 25 years from now.…

A: Excel Spreadsheet:

Q: Over the years, Ahmed and Aamina El-zayaty, of Berkeley, CA,desire an annual retirement income of…

A: Given information: The future value will be zero because the amount of investment yielding an…

Q: Spencer plans to work for 45 years. He also plans to spend $250,000 per year during his 40 years of…

A: Retirement planning entails making preparations now for your future life so that you can continue to…

Q: Earl E. Bird has decided to start saving for his retirement. Beginning on his twenty-first birthday,…

A: given, Earl: A=$2000 r=7% n = 10 years  then kept the amount idle for 35 years Ivana: A=$2000 r=7%…

Retirement Income

Retirement income is the income received by the retiring person after retirement. Income can either be paid every month or paid annually. The retiree would get a guaranteed income until their death. Retirement income payment differs from person to person based on their investment type and payment method. Some are paid on a lump-sum basis and some are paid in a regular series with fixed payment or variable cash flow. Retirement income can be created from retirement savings, investment, salary, bonus, and wages from employment. Every working individual should plan their retirement income according to their income goals for the future. The plan should be made by identifying suitable income sources, estimating future expenses, applying a savings plan, and managing risk and assets. The most common age for retirement is between 60-65 years.