If you are willing to pay $46,638 today to receive $4,991 per year forever then your required rate of return must be %. Assume the first payment is received one year from today.
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- Need help with this general accounting questionSuppose you have estimated that you will need $2,500 per month in your retirement to meet your expenses and live comfortably, and that you have found or chosen a fund (account) which pays monthly interest 4% APR . What principal, or balance, will your account need to maintain in order to be able to pay you this amount each month? Round/take your answer to the nearest cent.You are saving for your retirement. You have decided that one year from today you will deposit 5percent of your annual salary in an account which will earn 6percent per year. Your salary currently (today) is $90,000, and it will increase at 2 percent per year throughout your career. How much money will you have for your retirement, which will begin in 40years? Assume your first payment into the account is one year from today after your first increase.In other words, your next year’s paycheck (Year 1) is more than $90,000since it will increase by 2% each year. (
- Suppose you want to buy a vacant lot for your future home for $29,673. If your bank is willing to loan you the money at a 6% APR over the next 14 years how much would be your monthly payment? (Round up your answer to two decimal point)You plan to invest $2,000 per year into a retirement account. If you earn a compound annual rate of return of 5%, how many years will it take you to reach a balance of $500,000?Suppose you are 30 years old and would like to retire at age 60. Furthermore, you would like to have a retirement fund which you can draw an income of $1250,00 per year- forever! How much would you need to deposit each month to do this? Assume a constant APR of 6% and that compounding and payment periods are the same. To draw $125000 per year there must be $____ in your saving account when you retire.
- You are offered the choice of two annuities. A: Receive $100 every year for the next ten years. The first payment starts one year from today. B: Receive $204 every two years for the next ten years. The first payment starts two years from today. Without calculating the present values of the annuities, explain how you can obtain the rate of interest per annum that would make you indifferent between the two annuities.You intend to make the annual maximum contribution of $6,000 to your Roth IRA (individual retirement account) at the end of each year for the next 30 years. If you can earn 10 percent on your contributions, how much will you have at the end of the thirtieth year? Include the follwing variables to help you solve the problem: m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FVSuppose you are 35 years old and would like to retire at age 60. Furthermore, you would like to have a retirement fund from which you can draw an income of $50 comma 000 per yeardash forever! How much would you need to deposit each month to do this? Assume a constant APR of 7% and that the compounding and payment periods are the same.
- You are going to receive a payment of $80 at the end of each year for the next 12 years. If you invest each of those amounts at the same interest rate, then what annual compound interest rate must you earn in th order to have $1,930.65 at the end of the 12 year?Suppose you are going to invest $11,000 per year for six years. The appropriate interest rate is 9 percent. What is the future value if the payments are made on the last day of the year? What if the payments are made on the first day of the year? a) $82,756.68; $90,204.78 b) $90,204.78; $82,756.68 c) $49,345.10; $53,786.16 d) $53,786.16; $49,345.10Suppose that you have good credit and can get a 30-year mortage for $100,000 at 5%. What is your monthly payment. After computing the monthly payment, create an amortization schedule for the first three payments of the problem.
