how much will John have in his retirement account at age 60?

Q: After receiving an inheritance of $50,000 on her 21st birthday, Katlyn deposited the inheritance in…

A: The future value of deposit is the value of the current deposits on a future date based on the…

Q: How much money will there be in the account?

A: solution A= R(1+i)n+1/i R= Contribution half year=$425 n= number of periods=48 years - 33 years =15…

Q: Demitri's parents begin saving for his college fund when Demetri is 10 years old. They invest $5,000…

A: Money Deposited when Demetri is 10 = $5000 Interest rate =1.2% compounded annually Years = 18-10 = 8…

Q: Mr. Wilks is 30 years old today and wants to set aside an equal amount at the end of each of the…

A: Computation of present value at the age of 60 is as follows:

Q: Sandra Jones intends to retire in 20 years at the age of 65. As yet, she has not provided for…

A: Present Value:  The present value (PV) is the present sum of a series of fixed payments. The series…

Q: Kathryn, believing that life begins at 40, decided to retire and start enjoying life ar age of 40.…

A: To calculate the present value from the given future value for the given rate and specified period…

Q: John, 38, makes $125,000 per year. He has a 35 year old wife, Nancy, and a daughter who just turned…

A: The disparity between the current value of currency inflows and outflows over a span of time is…

Q: Jessica is 25 year old now and he wants to start saving up for her retirement fund.She will retire…

A: Retirement planning is the calculation of requirement of a lum sum corpus for the time period when a…

Q: Erika and Kitty, who are twins, have just received $30,000 each for their 25th Each sister plans to…

A: Given information: Future value is $1,000,000 Present value is $30,000 Interest rates of Erika and…

Q: Alex and Tony are twins. After graduation and being finally able to get a good job, they plan for…

A: The Future Value of the annuity refers to the sum value of all the payments which is occurred…

Q: Chad is a 49 year-old manager at an insurance company who earns $90,000 a year. He has a daughter…

A: Note: There are two parts to this question. The first two questions in part 1 have been solved…

Q: Onin plans on retiring on his 60th birthday. He wants to put the same amount of funds aside each…

A: Nominal Rate = 10% Compounded Semi Annually Number of compounding periods = 2 Amount to withdraw…

Q: Lynn estimates that when she retires at age 60, she will have $165,766.18 in her retirement account.…

A: Amount at the time of retirement = $ 165766.18 Expected Life as per Lynn = (85-60) + 3 = 28 Years…

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

A: As per the information provided the engineer will draw an amount of $160,000 at the end of the first…

Q: At the age of 35 John began contributing 10,500 Php every month to a retirement fund. If his money…

A: Using excel nper function

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: Ji Hyun's generous grandfather invests $1,000 when she is born into an index fund that produces a 7%…

A: Calculation of money will be in account.

Q: what will be the size of each installment?

A: Information Provided: College fund interest rate = 4% p.a. Tax free account = 3.5% compounded…

Q: Maria Alvarez is investing $300,000 in a fund that earns 4% interest compounded annually. What equal…

A: Compound interest refers to addition of interest to principal sum of loan or deposit.

Q: A father wants to set aside money for his 5-year-old son's future college education. Money can be…

A: Deposit: It is a saving which one earns during his or her earning period and saves the same amount…

Q: jesse recieved $5,000 from his grandmother when he turned 18. if he invests it at 5.5%(12), how much…

A: The question gives the following information:

Q: Yumi's grandparents presented her with a gift of $21,000 when she was 8 years old to be used for her…

A: in this problem we have to find out future value and from that we have calculate annual amount can…

Q: Jimmy establishes a Roth IRA at age 47 and contributes a total of $89,600 over 18 years. The account…

A: Introduction: IRA: IRA stands for Individual Retirement Account. Amount is saved for retirement…

Q: Charles wants to retire in 17 years. At that time he wants to be able to withdraw​ $22,000 at the…

A: Here, Retirement will be in 17 years Amount withdrawn is $22,000 Time duration of withdrawals is 19…

Q: Stella has $3,000,000 in her investment fund. She wishes to withdraw $338,868 at the end of each of…

A: In the given question, the amount to be invested today is the present value of a series of…

Q: EZ Leifer plans to retire at the age of 65 and believes he will live to be 90.  EZ wants to receive…

A: Present value of annuity due = P + [P * {1-[1/(1+r)^n]/r}] Where, n = 90 years - 65 years =25years P…

Q: Sam is currently 30 years of age.  He owns his own business and wants to retire at the age of 60.…

A: Working note for part a to c as follows:

Q: Daryl wishes to save money to provide for his retirement. He is now 30 years old and will be…

A: To withdraw some annual amounts after retirement and to leave some amount after 25 years of his…

Q: To prepare for his retirement in 13 years, Tekla deposited 10,000 in an account paying 9%. Nine…

A: We have certain age for retirement, and for that, we add an amount after some interval of time to be…

Q: Derek plans to retire on his 65th birthday. However, he wants to work part-time until he turns 72.…

A: Annuity is a sequence of equal amount of payments made at regular time gaps for a specified period…

Q: ne began to save for his retirement at age 30, and for 13 years he put $ 250 per month into an…

A: Future value of annuity is the future value of all the stream of cash flow. Future value of annuity…

Q: Frank buys a house at age 48 for $600,000 by making a $170,000 down payment and securing a 30-year…

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

Q: On Juan’s 26th birthday, he invested $7,500 in a retirement account. Each year thereafter he…

A: Rate of interest=5%,0.05               Time=35 Number of years=10Amount=Principal1+rateyears…

Q: Sam is currently 30 years of age. He owns his own business and wantsto retire at the age of 60. He…

A: a. Calculate amount accumulated up-to age of 60 as below: Resultant Table: Hence, amount…

Q: On the day of his son's birth, a father decided to establish a fund for the boy's college education.…

A: Withdrawal on 18th birthday to 21st birthday = 4000  Interest rate per quarter = 9%/4 = 2.25% per…

Q: A civil engineer planning for her retirement places 9% of her salary each year into a…

A: Salary = $160,000 Percentage in the retirement plan = 9%  Growth rate = 5%  Time period = 16 years…

Q: Isabel Lopez, from Lewiston, Idaho, is age 19, and she recently received an inheritance of $50,000…

A: The future value function can be used for determining the future value of a present sum, or the…

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: Eugene began to save for his retirement at age 35, and for 15 years he put $ 325 per month into an…

A: $

Q: Ashley invests $250 a month in her 401(k) retirement account, which earns an 8 percent annual…

A: Monthly payment (P) = $ 250 Annual interest rate = 8% Monthly interest rate (R) = 8%/12 = 0.6667%…

Q: Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns…

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

Q: On his 21st birthday, Silver put P300,000 into a retirement fund account that pays 10% interest per…

A: we need to use compound interest formula to calculate value of retainment fund at the age of 65…

Q: Sam started working for the LED company on his 25th Birthday. Each month P30 was withheld from his…

A: Cash Flow Diagram is any important aspect of visual accounting . This visually presents the income…

Q: Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage.…

A: The future value of a cash flow is the future worth of a cash flow at a certain rate of interest and…

Q: Bill is twenty-five years from retirement; in order to retire, Bill needs ngs account when he…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: Yumi's grandparents presented her with a gift of $18,000 when she was 8 years old to be used for her…

A: Given data; Investment at the age of 8 years = $ 18000 interest rate in investment = 3.5% compounded…