2. You need to have accumulated savings of $2 million by the time that you retire in 20 years. You currently have savings of $200,000. How much do you need to save each year to meet your goal if your savings earn a return of 10%? Find the savings calculator on www.msn.com/en-us/money/tools/retirementplanner to check your answer 2. You need to have accumulated savings of $2 million by the time that you retire in 20 years.You currently have savings of $200,000. How much do you need to save each year to meetyour goal if your savings earn a return of 10%? Find the savings calculator on www.msn.com/en-us/money/tools/retirementplanner to check your answer.

The Future value of the annuity is the total value of all the payments which is occurred regularly…

You need to have accumulated savings of $2 million by the time that you retire in 20 years. You currently have savings of $200,000. How much do you need to save each year to meet your goal if your savings earn a return of 10%? Find the savings calculator on www.msn. com/en-us/money/tools/retirementplanner to check your answer

You need to have accumulated savings of $2 million by the time that you retire in 20 years. You currently have savings of $200,000. How much do you need to save each year to meet your goal if your savings earn a return of 10%? Find the savings calculator on www.msn. com/en-us/money/tools/retirementplanner to check your answer

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 34P

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If you are saving the same amount each month in order to buy a new sports car when the new models are released, which of the following will help you determine the savings needed? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuity
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Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
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