You believe you will spend $48,000 a year for 12 years once you retire in 24 years. If the interest rate is 5% per year, how much must you save each year until retirement to meet your retirement goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Q: Approximately how much must be saved for retirement in order to withdraw $100,000 per year for the…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: When you retire, you plan to draw $50,000 per year from your retirement accounts, which will be…

A: Here, Annual payment = $50,000 Interest rate = 6% Number of periods = 10 years To Find: PV of…

Q: To supplement your planned retirement, you estimate that you need to accumulate R 220, 000 in 42…

A: Formulas: Future value = Annual payment *((1+rate)^years-1)/Rate

Q: If you want to retire with $2,000,000 in 45 years and can earn a rate of 10% with monthly…

A: The retirement amount to be required (FV) is $2,000,000. The maturity period is (NPER) 45 years. The…

Q: a) How much is in your account on retirement? b) Suppose you set up your account as a perpetuity on…

A: “Since you have posted a question with multiple subparts, we will solve the first three subparts for…

Q: Assume you deposit $5,400 at the end of each year into an account paying 10.5 percent interest. a.…

A: We will have to use the following formula to calculate the future value of an ordinary annuity:…

Q: Assume that you contribute $330 per month to a retirement plan for 15 years. Then you are able to…

A: This is an annuity where we make equal contributions each month. To get the value of the investment…

Q: You are planning to invest $1,000 in an account earning 12% per year for retirement. a. If you put…

A: Amount to be invested = $1000 Interest rate = 12%

Q: How much should you deposit at the end of each month into an investment account that pays 9%…

A: As per Bartleby Guidelines, we are allowed to do only one question if multiple different questions…

Q: You will need to deposit $_______ each quarter.

A: Future Value of Annuity: It is computed by compounding the present stream of annuity cash flows…

Q: You have $22,241.93 in a brokerage account, and you plan to deposit an additional $4,000 at the end…

A: Present Value = $22,241.93 Future Value = $220,000 Interest Rate = 10% Periodic Payment = $4,000

Q: You want to be able to withdraw $30,000 from your account each year for 25 years after you retire.…

A: in this problem you have to calculate present value of retirement amount and that will be retirement…

Q: If you have $325,000 saved for retirement, how many years will it last if you earn an annual…

A: In the given question we need to compute the Number of years for which saving of $325000 will last…

Q: Suppose that you’d like to retire in 40 years and you want to have a future value of $ 900000 in a…

A: APR: The annual interest rate that is charged to the borrowers is known as the annual percentage…

Q: You want to buy a house within 3 years, and you are currently saving for the down payment. You plan…

A: The question is based on the concept of calculating the future value of a periodic deposit with a…

Q: An investor requires an annual (year-end) income of $15,000 in perpetuity. Assuming a fixed rate of…

A: Information Provided: Yearly annual income = $15,000 Interest rate = 4%   NOTE: As per our…

Q: Today, you retire with $1,100,000 and you want to ensure that you can withdraw $1250 per week (52…

A: The question gives the following information:

Q: You are planning to make monthly deposits of $475 into a retirement account that pays 10 percent…

A: Given:

Q: An investor requires an annual (year-end) income of $15,000 in perpetuity. Assuming a fixed rate of…

A: Information Provided: Annual income = $15,000 Interest rate = 4%   NOTE: As per our policy, we…

Q: You would like to save $250,000 for retirement. If you are planning to retire 30 years from now, how…

A: Future value of the retirement account should be (FV) = $250000 Number of periods of month payments…

Q: How much must you deposit each year into your retirement account starting now and continuing through…

A: Monthly deposit It is the minimum deposit amount required to pay in an account each month by the…

Q: You want to be able to withdraw $1, 500 from your account each month for 20 years after you retire…

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

Q: You plan to deposit $5,600 at the end of each of the next 20 years into an account paying 10.8…

A: making periodic payments is called annuity, thus we will be finding future value of annuity. We can…

Q: If you have $375,000 saved for retirement, how many years will it last if you earn an annual…

A: Perpetuity can be defined as the series of fixed cashflow in equal interval for an indefinite…

Q: deposits

A: Introduction: The term annuity refers to series of payments which are made at intervals. Examples of…

Q: You are planning to invest $3,000 in an account earning 7% per year for retirement. a. If you put…

A: Here we will use the concept of time value of money.

Q: You want to be able to withdraw $35,000 from your account each year for 25 years after you retire.…

A: Given Information:- in the question, you want to withdrawal $35000 each year from you bank account…

Q: You will retire in 26 years and can afford to put away 11 % of your salary each year. You make…

A:

Q: You are scheduled to receive $18,500 in three years. When you receive it, you will invest it for…

A:

Q: If you have $125,000 saved for retirement, how many months will it last if you earn an annual…

A: GIVEN, PV = $125000 R=5.5% M=12 A= $1400 Beginning of month withdrawals

Q: As part of your retirement plan, you have decided to deposit $6,000 at the beginning of each year…

A: Answer 1) Calculation of worth of account after 10 years if the annual rate of interest is 3% Amount…

Q: You would like to put some money into an account so that you will have $6000 in the account 13 years…

A: Present Value can be calculated using PV function in excel   PV (rate, nper, pmt, [Fv], [type])…

Q: You want to be able to withdraw $30,000 from your account each year for 30 years after you retire.…

A: The amount of the deposit can be calculated by using the present value and future value of annuity…

Q: You would like to have ​$53,000 in 13 years. To accumulate this​ amount, you plan to deposit an…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: At the moment you don't have any money saved for retirement, but have resolved to start making $425…

A: Given: Monthly payments "PMT" = $425 Effective annual rate = 9.9% Future value "FV" = $2400000

Q: If you want $3,000,000 saved by the time you retire in 40 years and you earn 8% interest on your…

A: Amount required $3,000,000  Time is 40 years Interest rate is 8%

Q: You want to be able to withdraw $40,000.00 from your account each year for 15 years after you…

A: Time Value of Money (TVM): It is based on a principle that the money in hand now has more value than…

Q: You are planning to invest $2,000 in an account earning 10​% per year for retirement. If you put the…

A: Return refers to the money made or lost on a investment after a period of time.

Q: Suppose that you earn $45,600 per year. What is your monthly salary? Assume that you deposit 10% of…

A: Future value of annuity The future value of annuity refers to the total value of the investment at…

Q: You are offered the opportunity to put some money away for retirement. You will receive 10 annual…

A: Here, Annual Payments Received is $5000 Interest Rate is 12% Monthly Interest Rate is 12% / 12 = 1%…

Q: You decide to replace your income of $70,000 a year in retirement for 30 years. How much do you need…

A: Interest rate (r)= 3% Compounding (k)= annually Time period (n)= 30 years Retirement Income (d)=…

Q: You believe you will need to have saved $510,000 by the time you retire in 30 years in order to live…

A: PMT function is used to calculate yearly savings

Q: You are saving for your retirement. You have decided that one year from today you will deposit…

A: First payment, A = 5% x Annual salary a year later = 5% x 90,000 x (1 + 2%) = $ 4,590.00 Growth rate…

Q: ou decide to replace your income of $70,000 a year in retirement for 30 years. How much do you need…

A: PV is the current worth of cash flows that are expected to occur in the future.

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…