tes 7. Suppose your employer offers a monthly annuity at 7.3% annual interest. a. If you can afford to put $800 per month into your annuity, and you wish to retire 12 you retire? b. Suppose instead that you wish to retire in 23 years, but now you want to be able to withdraw $6,000 per month for 30 years after you retire. Supposing that you can get the 7.3% in perpetuity, how much will you have to accumulate in 23 years to meet your retirement goals? How much will you have to put you're your retirement account each month in order to save the required amount? in 23 years, then how much will your annuity be worth when aphically all the con ty
tes 7. Suppose your employer offers a monthly annuity at 7.3% annual interest. a. If you can afford to put $800 per month into your annuity, and you wish to retire 12 you retire? b. Suppose instead that you wish to retire in 23 years, but now you want to be able to withdraw $6,000 per month for 30 years after you retire. Supposing that you can get the 7.3% in perpetuity, how much will you have to accumulate in 23 years to meet your retirement goals? How much will you have to put you're your retirement account each month in order to save the required amount? in 23 years, then how much will your annuity be worth when aphically all the con ty
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....
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Transcribed Image Text:tes
7. Suppose your employer offers a monthly annuity at 7.3% annual interest.
a. If you can afford to put $800 per month into your annuity, and you wish to retire
12
you retire?
b. Suppose instead that you wish to retire in 23 years, but now you want to be able
to withdraw $6,000 per month for 30 years after you retire. Supposing that you
can get the 7.3% in perpetuity, how much will you have to accumulate in 23
years to meet your retirement goals? How much will you have to put you're your
retirement account each month in order to save the required amount?
in 23 years, then how much will your annuity be worth when
aphically
all the con
ty
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