fter a long career an engineer retires with $1.4 million in a retirement account. The engineer spends $84,000 per year from this account in retirement and the account earns 3% interest per year. How many years will the retirement account last? Express your answer in years to the nearest whole year. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sur

Q: Assume that you have just turned 21, are graduating from college, and are planning for your…

A: Payments at age 22 and 23 = $2000Payments from age 24-30 = $10,000Payments from age 31-30 =…

Q: An engineer is employed in a government office. Every month an amount of ₱ 1,924.83 is deposited in…

A: First we need to calculate  accumulated amount at the time of retirement FV =PMT(1+i)n -1i where FV…

Q: Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is…

A: Here, Time Period of Retirement (NPER) 30 Annual Investment  (PMT)  $14,000.00 Interest Rate…

Q: (a) Construct a data table that will show Lindsay the balance of her retirement account for various…

A: Present value is the discounted value of the future cash flows and final value is the future value…

Q: Round final answers to the nearest penny as needed. 1. Suppose you are paid $2400 per month and your…

A: The future value of the retirement savings will depend upon the monthly savings, the monthly rate,…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Here's how to calculate Dora's pension's worth:  Dora's annual pension of $84,000 is a significant…

Q: Kim decides to retire in 15 years but she has nothing saved. She wants to receive $3,000 per month…

A: Step 1 The amount paid each month to repay the loan over the course of the loan is known as the…

Q: You expect to work for another 30 years. At your retirement in year 30, you expect your company's…

A: Annuity refers to series of equalized payments that are paid or received at start or ending of…

Q: ineer John Cena is planning for retirement decides that he wishes to have income of Php 200,000 per…

A: There is need of planning for retirement and if done on the proper time than you could achieve good…

Q: At age 25, you start work for a company and are offered two retirement options. Retirement option 1:…

A: Compound Interest: It  is the interest earned on interest. It  is calculated  depend on initial…

Q: 3. Suppose a high schools graduate earns $40,000 per year while a college graduate makes $80,000.…

A: Earning of school graduate is $40,000 Earning of college graduate is $80,000 Cost of college per…

Q: Write each known variable’s value as it appears in the calculator and use a question mark for the…

A: Discounting is a way to compute the PV of future amount by using appropriate rate or PVF for the…

Q: A self-employed person deposits $2,000 annually in a retirement account (called a Keogh or H.R. 10…

A: The value of current asset for the future date based on the growing interest will be known as the…

Q: At age 51 Professor Butler retired from the Navy Reserve. His retirement pay is 20,000 per year from…

A: An annuity is a financial product that provides a stream of payments to an individual at regular…

Q: Boilermaker Design, Inc. (BD) has an employment contract with its newly hired CEO. The contract…

A: N = 3 Rate = 8% Future Value Required = 5,000,000

Q: your aunt has $550, 000 invested at 5.5% and she now wants to retire. She wanted to withdraw $…

A: Amount invested = $550,000Interest rate = 5.5%Per year withdrawal = $45,000Amount to Leave =…

Q: Les Moore retired as president of Goodman Snack Foods Company but is currently on a consulting…

A: Part a and part b answers are given below(highlighted) and excel formulas are also included

Q: Lindsay is 25 years old and has a new job in web development. Lindsay wants to make sure that they…

A: Retirement income refers to the financial resources that individuals receive during their retirement…

Q: indsay is 25 years old and has a new job in web development. She wants to make sure that she is…

A: It has been provided: Time Period = 30 years  Annual Investment = $ 13,000.00  Interest Rate = 9%…

Q: our friend has just celebrated her 30th birthday and accepted her first job. She must now decide how…

A: Your friend is undertaking her retirement planning. She has crystallized the annuity required in her…

Q: All computations must be done and shown how to do it on a financial calculator.  Timothy is…

A: The current worth of the future expected cash inflows can be computed by using Excel sheet formula…

Q: What is the accumulated future value of his position? ( ?=R/K (e^kt-1) where R is the income stream,…

A: R(t) represents the rate per year of a continuous income stream and is a constant k is the interest,…

Q: Kit Fox is the finance manager at Builtrite and she just noticed that one employee-Terry Dactel-has…

A: Retirement planning is a method of annuity payments used to make deposits or withdrawals while…

Q: You are starting a business and have signed a rental lease for an office in Santa Monica. This…

A: Given: Initial annual rental payment = $24000 New annual rental payment = $30000 Number of years = 4…

Q: The median annual income for someone with an Associates Degree is $31,936. The median annual income…

A: Cost of bachelor's degree   Cost of tuition and Fees $55,000 Lost of earnings $64,000 Total…

Q: Jill and Frank plan to retire in 40 years. How much do they need to deposit each month in a sinking…

A: Future value of annuity = Annuity * [ 1 - (1/(1+r)^n) ] / r Where  r is rate per period i,e, 4.8%/12…

Q: When you begin your new job, your employer says they will match any 401k deposits you make by 50% up…

A: Employee contribution to 401K refers to the amount of money an employee chooses to contribute from…

Q: Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is…

A: Future value is the total amount of money invested with the intention of receiving a specific rate…

Q: Jamie Lee and Ross estimate that they will have $1 million in liquid assets to withdraw from at the…

A: In the event that Jamie Lee and Ross have a $1,000,000 in their nest egg, at that point they will…

Q: Select one: a. $1,449,334 b. 579,360 C. $115.594 d. $1,108,432 e. $147.332

A: interest rate =9.25 semiannual =4.625 Period =15 years  Period =30 semiannual  Present value FACTOR…

Q: ease help me determine the IRR of my MBA. The cost is $35,000. I am on scholarship so the degree has…

A: IRR is internal rate of return at which initial investment is equal to the present value of cash…

Q: You and your best friend, Angelo started working at Microsoft 2022. You know that he is much…

A: RRSP Contribution limit = It is up to a predetermined amount, The maximum RRSP contribution limit is…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Step 1: Given Value for Calculation option 1present Value Lump Sum = $150,000 option 2Payment = p =…

Q: tirement saving at the end of December of her first year of working, and her retirement saving will…

A: There is need of proper planning for retirement and if you start early than you will have sufficient…

Q: Crane Flight Services contributes $25 a week to Helen's retirement plan starting immediately.…

A: Periodic Payment = $25 Time Period = 22 Years Interest Rate =  434%

Q: You decide to do some remodeling in the kitchen. Your parents agree to lend you the money, but you…

A: Simple interest is calculated by multiplying borrowed amount , interest rate and time.   Simple…

Q: To prepare for an early retirement, a self-employed businessman makes deposits of $6200 at the begin…

A: Investment means engaging your funds to accumulate the required amount when needed. It follows the…

Q: You are a financial adviser working with a client who wants to retire in eight years. The client has…

A: Present Value is a capital budgeting technique which helps in decision making on the basis of future…

Q: Blake is considering whether to enroll full-time in a two-year, webpage design certificate program.…

A: Opportunity cost is an indirect cost that refers to the cost of forgoing an income source.

Q: Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is…

A: Future value is the accumulated sum of money that is invested with the motive to earn a certain…

Q: n you take your job, you decide to start saving for your retirement. You put P3k per year into the…

A: There is need of proper planning for retirement and that you must do as early as possible so that…

Q: raise in his salary after completing his MFM. Assume that the post-graduation salary grows at a 5%…

A: Given information : Current age 30 Current earnings $40000 Retirement age 65 Growth rate 5%…

Q: Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is…

A: Time Period of Retirement (NPER) 30 Annual Investment  (PMT)  $      15,000.00 Interest Rate…

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.