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16. Audrey is a participant in her employer's tax-sheltered annuity plan. Her annuity has an accumulated value of $20,000, and she wants to borrow $9,000 of it to purchase a used car. What is the longest repayment period she can obtain? A. two years B. three years c. five years D ten years

Destiny invests $20,000 today into a retirement account. She expects to earn 7 percent, compounded annually, on her money for the next 30 years. After that, she wants to be more conservative, so only expects to earn 4 percent, compounded annually. How much money will she have in her account when she retires 40 years from now, assuming this is the only deposit he makes into the account? O $225,359.94 O $152.245.10 O $377,605.04 $299,489.16 O None of the answers is correct

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Question 6 John Adams plans to retire at the age of 62. He wants an annual income of $60,000 per year. He believes that he will live to be 87. He will draw the money at the beginning of each year. How much money will he need when he retires in order to support his $60,000 annual life style if he will average 12 percent per year on his retirement account?  a. $527,059  b. $470,586  c. $439,800  d. $505,302

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30 After reviewing her financial affairs, Jasmine has determined that she would like the $75,000 death benefit from one of her insurance policies to go to a local registered charity. The whole life policy in question has a $45,000 cash surrender value (CSV) and she pays an annual premium of $500. Jasmine's current cash flow situation is quite good. She is living a comfortable retirement. However, she is worried as she has assets, that of the taxes that will be payable after her death will result in considerable capital gains. She is unable to purchase a new life insurance to cover the income tax triggered at death because of her health. What should Jasmine do to fulfill her desire to donate $75,000 to the registered charity and alleviate the taxes payable following her death? NVBDQncreUJQWW1 Ya0w4cWZjYVhIQT09 → a. O Surrender the life insurance policy and donate the CSV. b. O Name the registered charity as beneficiary of the life insurance policy. c. O Assign the life insurance policy…

6. Kevin deposits $1423.62 each quarter into an annuity account for his child's college fund in orderto accumulate a future value of $85,000 in 12 years. How much of the $85,000 will Kevin ultimatelydeposit in the account, and how much is interest earned?

H. Today is Amy's 22th birthday.  Starting today, Any plans to begin saving for her retirement, which she expects to be at age 68.  Her plan is to contribute $6,000 to a brokerage account each year on her birthday.Her first contribution will take place today.  Her final contribution will take place on her 67th birthday.  Her grandpa has decided to help Amy with her savings, which is why he gave Amy $3,000 today as a birthday present to help get her account started. Assume that the account has an expected annual return of 8.9 percent.  How much will Any expect to have in her account at retirement (on her 68th birthday)? Hint: think of the cash flow type, annuity DUE. Inputs:   Output:               Initial deposit:   Future Balance               Annual Contribution:                   Num of periods:                   Annual Return:

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Problem #5 Samantha Montgomery (age 42) is employed by Canon Company and is paid a salary of $62,430. She has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Montgomery: a. What is the maximum that she can contribute into this retirement fund? $ b. What would be the company's contribution? $ c. What would be her weekly take-home pay with the retirement contribution deducted (married filing jointly, wage-bracket method, and a 2.3% state income tax on total wages)? $_ d. What would be her weekly take-home pay without the retirement contribution deduction? $

43. Bobbi Proctor does not want to “ gamble ” on Social Security taking care of her in retirement . Hence she wants to begin to plan now for retirement . She has enlisted the services of Hackney Financial Planning to assist her in meeting her goals . Proc tor has determined that she would like to have a retirement annuity of $ 200,000 per year , with the first payment to be received 36 years from now at the end of her first year of retirement . She plans a long , enjoyable retirement of about 25 years . Proctor wishes to save $ 5,000 at the end of each of the next 15 years , and an unknown , equal end - of - period amount for the remaining 20 years before she begins her retirement Hackney has advised Proctor that she can safely assume that all savings will earn 12 percent per annum until she retires , but only 8 percent thereafter . How much must Proctor save per year during the 20 years preceding retirement ? EBK CONTEMPORARY FINANCIAL MANAGEM chapter5, problem 43

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2.Selyn Cohen is 63 years old and recently retired. He wishes to provide retirement income for himself and is considering an annuity contract with the Philo Life Insurance Company. Such a contract pays him an equal-dollar amount each year that he lives. For this cash-flow stream, he must put up a specific amount of money at the beginning. According to actuary tables, his life expectancy is 15 years, and that is the duration on which the insurance company bases its calculations regardless of how long he actually lives. (A) If Philo Life uses a compound annual interest rate of 6 percent in its calculations, what must Cohen pay at the outset for an annuity to provide him with $10,000 per year? (Assume that the expected annual payments are at the end of each of the15 years.)