Claire Fitch is planning to begin an individual retirement program in which she will invest $2,200 at the end of each year. Fitch plans to retire after making 30 annual investments in the program earning a return of 10%. What is the value of the program on the date of the last payment (30 years from the present)? (PV of $1. FV of $1. PVA of $1. and FVA of $1) (Use appropriate factor(s) from the tables

Claire Fitch is planning to begin an individual retirement program in which she will invest $2,200 at the end of each year. Fitch plans to retire after making 30 annual investments in the program earning a return of 10%. What is the value of the program on the date of the last payment (30 years from the present)? (PV of $1. FV of $1. PVA of $1. and FVA of $1) (Use appropriate factor(s) from the tables

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A couple is saving for retirement with three different accounts. The table below shows the current balances in their accounts, along with their yearly contribution, and the yearly return on each account. The couple will retire in 24.00 years and pool the money into a savings account that pays 4.00% APR. They plan on living for 30.00 more years and making their yearly withdrawals at the beginning of the year. What will be their yearly withdrawal? Yearly Contribution $1,000.00 Account Fidelity Mutual Fund Vanguard Mutual Fund Employer 401k Balance $21,452.00 $183,845.00 $307,061.00 Submit Answer format: Currency: Round to: 2 decimal places. $10,000.00 $15,000.00 APR 7.00% 7.00% 6.00%
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After completing your Bachelor of Business (Accounting) degree, suppose you secure a permanent position as an accountant. You drafted a financial plan to retire in 35 years from now andthinking about creating a fund that will allow you to receive $25,000 at the end of each year for 30years after your retirement. The interest rates areexpected to be 2.45% per annum during the 35- year pre-retirement period and 3.15% during retirement. Required: a) To provide the 30-year, $ 25,000-a-year annuity, calculate how much should be in the fund account when you retire in 35 years. b) How much will you need today as a single amount to provide the fund calculated in part (a) if you earn 2.75% per year during the 35-yearpre-retirement period? c) (Using different…
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please answer in the chart form
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