Mechanical Engineer John Cena is planning for retirement decides that he wishes to have income of Php 200,000 per year for 20 years with the first withdrawal starting 30 years from now. If her retirement account earns activity at 8% per year, determine the annual amount he would need to deposit for 29 years beginning 2 years now.

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A: Present Value of Ordinary Annuity refers to the concept which dictates the discounted value of a sum…

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A: Annuity is the sum total of all the periodic payments or investments made over the period of time at…

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A: Given: Amount in retirement account = $160,000 Annual payment = $2,000 Years =22 Interest rate = 8%

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A: Annuity grow by some constant amount of gradient and due to this growth amount grow much amount.

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A: We have to calculate the future value of $500 paid every quarter for 25 years. Interest is 6%…

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A: Future value is the amount accumulated in an account after a certain period of time at a certain…

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A: Age of retirement = 65 Age of death = 75 Number of years to avail annual amount of P10,000 = 10…

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A: The question is based on the concept of accumulation for retirement, such accumulation uses…

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A: Given Information: Present value of Savings = Php 31,000 Rate of interest = 8% per year Time = 20…

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A: Given Information: Periodic payment = $225,000 Rate of interest = 9% compound annually Period = 24…

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Q: A man is planning to retire in 20 years. He can deposit money for his retirement at 8% compounded…

A:

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A: The question is based on the concept of Annuity.

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A: In this we have to calculate the monthly deposit upto retirements and than how much can be withdrawn…

Q: 4. Juan Masipag, a self-employed individual, is opening a retirement account at a bank. His goal is…

A: Amount to accumulate = Php 1000000 n = 20 years i = 8% g = 6% First deposit = A1 Amount to…

Q: An engineer plans to retire in exactly one year and wants an account that will pay him P31,000 a…

A: The amount required to be deposited now is = P31,000 (P/A, 6%, 14) = P31000 x 9.29498393 =…

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A: Convert 8% compounded quarterly to its equivalent interest rate for monthly interval. Here, 'R'…

Q: In an effort to save money for early retirement, an environmental engineer plans to deposit $1200…

A: Given information: Monthly deposit of $1,200 for every 6 months Interest rate of 8% per year Number…

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A: The amount required to fulfill the retirement goal can be ascertained by computing the present value…

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A: Investment means engaging your funds to accumulate the required amount when needed. It follows the…

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A: First we need to calculate present value of annuity of withdrawal by using this formula Present…

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A: This problem belongs to future value of annuity due. since payment is at the start of the month.

Q: You have finished your time at Kelley and need to start thinking about retirement. You plan on…

A: Given: amount required after retirement at every six months = $75,000 Period of service = 30 years…

Q: A is planning for her retired life. She has 10 more years of service. He would like to deposit 20%…

A: Present value of Annuity Annuity is a series of equal payment at equal interval over a specified…

Q: Annie would like a retirement income of $4,000 per month (beginning of month payments) for 23 years…

A: Given:

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A: The present value is the value of the sum received at time 0. It is the current value of the sum…

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A: In case of ordinary annuity, the amount of periodic payment is being considered at the end of the…

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

Q: A woman, with her employer's matching program, contributes $300 at the end of each month to her…

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

Q: Jennifer is the owner of a video game and entertainment software retail store. She is currently…

A: The present value function can be used to derive the present value of future cash flows, and it can…

Q: Sam Salverri is planning to retire in 15 years. Money can be deposited by 8% compounded quarterly.…

A: in this we have to calculate monthly interest rate and from that we can get required value.

Q: Marcia Kincaid has just begun working for a company that offers a pension plan. This plan guarantees…

A: Total amount she got = 5400*20*12 = 1296000

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A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

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