Suppose Justin saves $3,550 every year for retirement. if he earns 8.8% annually, how much will he have in 41 years? 1,236,741 158,358 525,144 4,621,649 1,240,604

Q: Ted has a nest egg of 1,000,000 in liquid assets and will be in retirement for 30 years. Using 5.5%…

A: To keep her nest egg amount of $1,000,000 intact, Ted needs to withdraw 5.5%/12 of the liquid asset…

Q: If Maria wants to be a millionaire ($1,000,000) by the time she retires (45 years from now), how…

A: Future value (FV) = $1,000,000 Interest rate = 8% Semi annual interest rate (r) = 8%/2 = 4% Period =…

Q: Assume that you are 30 years old today, and that you are planning on retirement at age 65. Your…

A: First contribution amount = Current Salary * Contribution % = 41000 * 8% = $3280

Q: Barry plans to invest $350 a month for the next 30 years, how much money will he have in his account…

A: Given data, monthly payment = $350 number of years = 30 years annual rate = 12%   To calculate the…

Q: An engineer currently has nothing saved for his retirement, which will start 6 years from today. He…

A: Time to retire = 6 years Annual Withdrawal in retirement = 68,500 Time period for withdrawals = N =…

Q: Suppose DAVID wants to have P10,000,000 to retire 45 years from now, how much would she have to…

A: Amount needed at the retirement (X) = P 10000000 n = 45 years r = 15%

Q: 1) Sabrina waits to start saving for retirement until age 35. If she saves the same $8000 each year…

A: Annual saving (P) = $8000 Period from 35th year to 65th year (n) = 30 Interest rate (r) = 7.00%

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

A: Human life value method is a common method used by insurance company to determine the eligibility of…

Q: Art wants to know how much he'll have to invest today to receive an annuity of $8,000 for three…

A: The computation of amount of investment is as follows:The investment needed today is the present…

Q: Sam wants to have $160,000 in four years from now. She found an investment, earning 6% per year,…

A: The amount that should be invested now to earn a certain sum of money in the future is equal to the…

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

A: Amount need to invest today = Amount required at the end of 5th year x PVIF (2%, 5 years)

Q: Jake plans to contribute $3600 at the end of each year to his IRA. If he earns a return of 8.5%…

A: Future Value Future value  is the worth of any asset or any sum of money at a future date when such…

Q: a couple has 25,000 in their retirement savings today. How many years do they have to save at 6%,…

A: Present Value The present value is the value of cash flow stream or the fixed lump sum amount at…

Q: Frank invested $10,000 at 15% simple interest. How much interest will he earn each year?

A: Under simple interest, interest is calculated on the principal amount only; that is, interest is not…

Q: Stuart Daniels estimates that he will need $26,000 to set up a small business in 7 years. How much…

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

Q: An engineer currently has nothing saved for his retirement, which will start 6 years from today. He…

A: Time till retirement is 6 years Future annuties of  P68,500 for 5 years Interest rate is 7.16%   To…

Q: ohn and Diane want to have $386,000.00 available for retirement. How much will hey have to invest…

A: We are given the future value here and we have to compute the amount of monthly deposits that will…

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: Karen and Dave are planning to retire today. They would like to receive $50,000 per year in today's…

A: Dear student, as per Bartleby answering guideline we can not answer more than 1 question if students…

Q: amie is saving ₱10,000 at the end of each month. How soon can he retire if he wants to have a…

A: Monthly saving = P 10,000 Future value (FV) = P 250,000 Annual interest rate = 4.36% Monthly…

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

A:

Q: Leon would like to have a retirement income of $3,000 per month (beginning of month payments). How…

A: An annuity due is a sequence of equivalent periodic cash flows that starts at the beginning of the…

Q: A 45-year-old woman decides to put funds into a retirement plan. She can save $2,000 a…

A: Here, To Find: Future value of annual savings (FV) =? Annual withdrawals made for 20 years after…

Q: Suppose that you save for retirement by contributing the same amount each month from your 23 rd…

A: Monthly saving (pmt) = $100Rate of Return (rate) = 7.5% or 0.075Type of Compounding = MonthlyNumber…

Q: Tak wants to save $10 000 for a vacation. He deposits $150 at the end of each month for 4.5 years in…

A: Solved using Financial Calculator  PMT = +/- 150 N = 4.5 years *12 months = 54 I/Y = 8.7/12 = 0.725…

Q: Kelly just started retirement with $500000 in his retirement account. The retirement account has an…

A: The question is based on the concept of Financial Management. As per the Bartleby guidelines we are…

Q: James invests $20,000 on his 25th birthday and plans to add $2,000 to his investment each year until…

A: Investment means engaging your funds to generate income in the future. Interest is a return which is…

Q: Your parents will retire in 16 years. They currently have $400,000 saved, and they think they will…

A:

Q: Your parents will retire in 17 years. They currently have $310,000 saved, and they think they will…

A: Future value = present value * (1+r)^n Where r= rate of interest n= compounding year

Q: Kelvin has 45 years left until retirement and wants to retire with RM4 million. Assuming that his…

A: First we need to calculate he monthly payment to accumulate the amount required for retirement .…

Q: David wants to retire in 40 years. If he puts away $300 per quarter, at the end of each quarter,…

A: Time value of money states that the value of the amount of money today is more than the value of the…

Q: Your parents will retire in 17 years. They currently have $290,000 saved, and they think they will…

A: Future value = Present value *(1+rate)^years $2,000,000 = $290,000*(1+rate)^17 Rate = ($2,000,000 /…

Q: You have just retired with savings of $5 million. If you expect to live for 49 years and to earn 12%…

A: Present value = Annuity * PVAF ( Rate, Years )

Q: 3. Sarah wants to have $2,000,000 in net worth when he retires. To achieve this goal, she p invest…

A: in this we have to find future value of ANNUITY to get future value.

Q: Your parents will retire in 28 years. They currently have $300,000 saved, and they think they will…

A: Investment amount (PV) = $300,000 Future value required (FV) = $2,500,000 Period (n) = 28 Years

Q: Jeffrey makes $235,000 a year and earns 9.2% on his money. He expects to work another 11 years. His…

A: Income retention approach: It is a kind of approach of calculating life insurance amount in which…

Q: Reuben has decided to invest to help with his retirement savings. How much would he have to invest…

A: Given, Investment after 19 years (A)= $113,400 Interest rate (r)= 3.43% Compounding Frequency(n) =4…

Q: Your parents will retire in 23 years. They currently have $290,000 saved, and they think they will…

A: The present value is $290,000.The future value is $900,000.Number of years is 23.

Q: What payment every year should Carie deposit to her savings account in order to save $37,100 in 11.5…

A: Given: Future value(FV) = $37,100 Years = 11.5 Interest rate = 3.19%

Q: Your parents will retire in 30 years. They currently have $350,000 saved, and they think they will…

A: Given information: Present value amount (PV) is $350,000 Future value (FV) is $1,950,000 Number of…

Q: Bob earned $70,000 last year and had a Pension Adjustment of $788O. If his RRSP is maximized, how…

A: RRSP stands for Registered Retirement Savings Plan, which allows the savings for retirement in order…

Q: If Rex wants to be a millionaire by the time he retires (45 years from now), how much does he need…

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

Q: how much money will he have at retirement if his account expense ratio is: 0.50% =$???????????? or…

A: Time value of money (TVM) is used to measure the value of money at different point of time in the…

Q: Mrs. Nash will contribute $200 to her RRSP at the end of each month for 15 years. How much more…

A: The extra amount that she will have due to increased saving is calculated as difference in amount…