Please do not answer this question in excel thank you in advance.  Jill and Frank plan to retire in 40 years. How much do they need to deposit each month in a sinking fund in order (Links to an external site.) to have $750,000 when they retire if they earn 4.8% compounded monthly?

Q: On her 31st birthday, Jean invests $1,000 into her employer’s retirement plan, and she continues to…

A: Given information: Annual payment of $1,000 Interest rate is 6% Number of periods is 10,

Q: ally into a life insurance fund for the next 5 years, at which time he plans to retire. Instead of a…

A: The given problem can be solved using FV and PMT function in excel. FV function computes amount…

Q: The will of Don José Luis, who has just died, specifies that the beneficiary of his 15,000,000.00…

A: Insurance Amount = 15,000,000 Interest Rate = 24%/12 = 2% per month Periodic Amount = 250,000…

Q: thday, you will make the first monthly contribution of $200 into the fund that will earn 6%/year…

A: In this we need to calculate the monthly future value factor and and find out retirement fund and…

Q: Robert retired on 31st December 2016 and received a sum of $ 100000 from the company towards…

A: Given that, Amount invested (P) = $100000  Rate of interest (r) = 9% or 0.09 per year Time period…

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: Marilyn wishes to retire at age 65 with $2,000,000 in the bank. At the age 21, she decides to begin…

A: Calculate the monthly payments as follows:MS-Excel --> Formulas --> Financials -->PMT

Q: Determine the annual interest rate he will need to meet his goal.

A: Interest Rate: With the help of interest rate, present value, or future value of the cash flows can…

Q: Meredith, who is single, would like to contribute $6,000 annually to her Roth IRA. Her AGI is…

A: Roth IRA is a scheme for contribution into retirement account by the citizens of the United States…

Q: Sherry has a goal of retiring with $375,394 by making weekly deposits into an investment account…

A: Present value =Future amount/(1+r)n n=29 years  r=rate of interest =1.4%

Q: You contribute $1,000 annually to a retirement account for seven years and stop making payments at…

A: Using excel FV function

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: Your uncle has $338,437.45 and wants to retire. He expects to live for another 25 years, and he also…

A: As the withdrawals are being made at the start of each month this is in the form of an annuity due.…

Q: Donna is 40 years old today and she wishes to accumulate $2,240,000 by her sixty fifth birthday so…

A: SOLUTION- LET THE AMOUNT TO BE DEPOSITED ANNUALLY =X RATE OF INTEREST =6% P.A CURRENT AGE =40 YEARS…

Q: Will and Jane Sparks are establishing a college fund for their 1-year-old daughter, Jennifer. They…

A: As per the given information: Amount = $40,000Annualized rate of return (r) = 8%No. of years (n) =…

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: A self-employed person deposits $2,000 annually in a retirement account (called a Keogh or H.R. 10…

A: The future value formula can be used to derive the future value of a present sum or a stream of…

Q: Your uncle has P375,000 and wants to retire. He expects to live for another 25 years, and he also…

A: This is annuity due  Using excel PMT function to calculate amount withdraw

Q: Madam plans to fund his individual retirement account with the maximum contribution of P20,000 at…

A: Note: All the Given Options are incorrect, so we are solving the correct one for you as per the…

Q: a young woman plan to retire 30 years. She intends to contribute the same amount of money each year…

A: Annual withdrawal (P) = $100,000 Number of annual withdrawal (n) = 20 Interest rate (r) = 10%…

Q: Jill and Frank plan to retire in 40 years. How much do they need to deposit each month in a sinking…

A: Future value of annuity = Annuity * [ 1 - (1/(1+r)^n) ] / r Where  r is rate per period i,e, 4.8%/12…

Q: our friend is celebrating her 30th birthday today and wants to start saving for her anticipated…

A: The question can be solved in excel as follows:

Q: You annually invest $1,000 in an individual retirement account (IRA) starting at the age of 30 and…

A: a)  Computation of my account balance:

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: A man turns 35 today and wishes to provide supplemental retirement income of 3000 at the  beginning…

A: Future Value: Future value is the value of a current asset at some time in the future based on an…

Q: a young woman, 22 years old, has just graduated from college. she accepts a good job and desires to…

A: Dear student, we need to use excel NPER function to calculate number of years of deposit that…

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: Kate is 28 years old today and is beginning to plan for her retirement . She wants to set aside an…

A: Computation:

Q: Ms. Anna Ang, aged 39, recently purchased an endowment plan from an insurer that requires her to set…

A: Yearly Payments = $24,000 Time period = 23  Inflation Rate = 2%  Rate of return = 4%

Q: Dr Kapoor has contributed $10,000 yearly into an RRSP from age 25 to 50 (25 deposits). At age 50, he…

A: in this first we have to calculate retirement amount and from that we can get pension.

Q: Melissa agrees to contribute $500 to the alumni fund at the end of each year for the next 6 years.…

A: Yearly Contribution is $500. Total years is 6 Years Current Interest rate is 3.5%(Compounded…

Q: who are still dependent. He received a $150,000 lump-sum retirement bonus and will receive $2,800…

A: Prices increase each year by the rate of inflation and may grow to double from existing levels over…

Q: Jane makes regular (end of term) deposits into her RRSP (Registered Retirement Savings Plan) that…

A: The concept of the time value of money(TVM) is working on the purchasing power capacity of money…

Q: Over the years, Samuel and Elizabeth Paget, of Elon, North Carolina, have accumulated $200,000 and…

A: The question is based on the concept of calculation of annuity payment from retirement accumulated…

Q: Georgia McBeal is trying to save for her retirement. She believes she can earn 10% on average each…

A: Average return is the return which an investor earns from investing in an investment. Higher the…

Q: A self-employed person deposits $2,000 annually in a retirement account (called a Keogh or H.R. 10…

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

Q: Using the appropriate interest table, provide the solution to each of the following four questions…

A: For finding the yearly annual payments, we need to use the formula for Future Value of Annuity- FV…

Q: A self-employed person deposits $4,000 annually in a retirement account (called a Keogh or H.R. 10…

A: 1). Number of periods = 65 - 50 Number of periods = 15 Future value = Annuity * [(1 + rate)^periods…

Q: You annually invest $1,500 in an individual retirement account (IRA) starting at the age of 30 and…

A:

Q: Abul plans to retire in exactly 20 years. His goal is to create a fund that will allow him to…

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

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: Alan is investing $40,000 in a fund that earns 5% interest compounded annually. Click here to view…

A: Present Value of annuity refers to the present value of all the future payments of and series of…

Q: n the day his grandson was born, a man deposited to a trust company a sufficient amount of money so…

A: Future Value(FV) is ascertained to know the expected value of current amount that will be invested…

Q: Your aunt has $550,000 invested at 5.5%, and she now wants to retire. She wants to withdraw $45,000…

A: Given: Particulars Amount Present value(PV) $550,000 Interest rate (Rate) 5.50% Payment…

Q: Julia just retired with $340,000 in her retirement account. Assuming that she can earn 4.8%…

A: Information Provided: Present value = $(340,000) Future value = $0 Payment = $4000 Rate = 0.4%…

Q: Carrie, age 55, is an employee of Rocket, Inc. (Rocket). Rocket sponsors a SEP IRA and would like to…

A: SEP IRA: As per IRS "Simplified Employee Pension Plan (SEP) IRA provides business owners with a…

Q: Charles wants to retire in 18 years. At that time he wants to be able to withdraw $22,000 at the end…

A: The present value would be considered as the one under which all those values which are going to…

Q: Jonathan is planning to retire on January 1, 2024. his goal is to have enough money in his savings…

A: calculating Nominal interest rate = m* ((1+effective interest rate)^(1/m)-1) Where m = no. of…

Q: how much would he need to invest today?

A: Present Value: It represents the present value of the future sum of the amount and is computed by…

Q: John Roberts is 55 years old and has been asked to accept early retirement from his company. The…

A: The best alternative would be the option whose Net present value would be the highest with the…

Employer Pension Plan

An employer pension plan is a retirement benefit provided by an employer to employees before or after they retire. Over the course of the employees' working lives, the employer should invest a lump sum or make monthly contributions to investment schemes in employees' names. It is the employer's legal responsibility to provide employees with retirement plans that support them with guaranteed financial security in retirement.