John Jones has just retired after many years with the telephone company. His pension funds have a total value of $180,000 and actuaries state that his life expectancy is fifteen more years. The manager of his pension fund says he can earn a 9% return on John's assets. What will be John's yearly annuity for the next fifteen years?

Q: how long in years and months will she receive the payments

A: RRSP: RRSP stands for Registered Retirement Savings Plan. RRSP is a kind of retirement savings and…

Q: A civil engineer planning for her retirement places 11% of her salary each year into a…

A: First year retirement fund deposit (D1) = $180000 * 11% = $19800 Growth rate (g) = 2% n = 13 years r…

Q: Joe’s starting salary as a mechanical engineer is around $80,000. Joe is planning to place a total…

A: Given, Joe’s starting salary = $80,000. 10% of his salary each year in the mutual fund. 5% salary…

Q: Jabari is planning for his retirement in 5 years’ time. He plans to deposit $200,000 immediately…

A: In this question, we have to calculate the future value of given annuity. Future value of annuity is…

Q: Miller is currently 35 years old and thinking about his pension fund and his income when he retired…

A: Present Value of Ordinary Annuity refers to a concept which determines the value of cash flows at…

Q: David is 40 years old and plan to retire in exactly 20 years. After retiring, he expects to withdraw…

A:

Q: You annually invest $1,500 in an individual retirement account (IRA) starting at the age of 25 and…

A: Your annual investment, PMT = $ 1,500    Starting age = 25Number of Years, n = 15Annual Interest…

Q: Chris has decided to create a retirement fund. He will deposit $250 at the end of each month for the…

A: An annuity is a stream of equal cash flows occurring at regular intervals.  the future value of an…

Q: Eugene began to save for his retirement at age 26, and for 10 years he put $ 425 per month into an…

A: Here we have to use the concept of future value to determine the retirement amount.  The amount…

Q: retirement. If Billy gets paid every other week, how much of each paycheck does he need to save, in

A: Retirement corpus is created by a salaried person to fund his expenses after the retirement. A…

Q: Geoff has paid $19,000 for a retirement annuity from which he will receive $1,624 at the end of…

A: Future value The value of an investment in a particular future date is known as its future value.…

Q: Kim decides early in her career that she wishes to save aggressively for retirement. Kim chooses to…

A: Future value is the the theory of compounding that is similar to the concept of compound interest…

Q: Sheila is planning to retire in 9 years. For 9 years, at the end of each year Sheila plans to invest…

A: Annual investment (C) = $6,000 Interest rate (r) = 0.07 Number of investments (n) = 9 Final value =…

Q: Mr. Lau is updating his estate plan for himself and his family. He would like to provide an income…

A: Life insurance provides financial coverage provided by insurance companies after the death of…

Q: artin wants to provide money in his will for an annual bequest to whichever of his living relatives…

A: The present value of growing perpetuity is calculated by

Q: Joe Doe is currently 65 years of age. He is currently drawing $20,000 a yearout of his IRA. He…

A: Person JD needs to have some amount of money in his account today to draw $20,000 at the beginning…

Q: Your grandparents would like to establish a trust fund that will pay you and your heirs $210,000 per…

A: Present value:Present value is a financial concept that refers to the current worth of a future cash…

Q: Geoff has paid $16,000 for a retirement annuity from which he will receive $1,582 at the end of…

A: Time, the value of money defines the money received today is more valuable than the money will…

Q: Jay has just retired and will receive a pension of 3,857 per month for 20 years. After which he…

A: The Present Value   is the current value of a future amount i.e.,   it is the amount to be invested/…

Q: John and Denise are partners at a law firm. They have decided to set aside a fund for their loyal…

A: Compound = Monthly = 12Time = t = 10 * 12 = 120John Payment = jp = $100Interest Rate = r = 10 / 12 %

Q: . Agunton is planning for her retirement. He is 30 years old today and would like to have N500,000…

A:

Q: The amount of interest accumulated at the time of Emily's retirement will be $ thousand. (Round to…

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: Janet Lopez wishes to establish a trust fund from which her son can withdraw $15,000 every six…

A: The objective of the question is to find out the initial amount that Janet needs to deposit in the…

Q: Abdulrahman is 60 years of age and has a life expectancy of 15 more years. He wishes to invest…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Mr. Handsome would like to accumulate $1 million in his pension fund. If the annual interest rate is…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: Mr. X to retire at age 65 and believes that he can live comfortably with an annual pension of…

A:

Q: John has decided to start saving for his retirement. Beginning on his twenty-first birthday, John…

A: Future value refers to an amount at some future date of an asset present today affected by interest…

Q: am wishes to have $500,000 in his retirement account when he retires, in 30 years . If he can earn…

A: A retirement account refers to a savings account in which an individual saves an amount for the…

Q: Michael wants to retire in 20 years with enough savings in his RRSP to be able to purchase a 30-year…

A: The present value represents the current value of the future sum of the amount or future stream of…

Q: The Calvarusos have decided to invest in a college fund for their young son. They invested $40,000…

A: Future value is the estimated value of current assets that is discounted at an assumed rate of…

Q: John is nearing retirement and is considering an annuity offer from New York Insurance Corp, which…

A: Given Annuity receivable at end of each year = $30,000 Period = 20 years Rate of interest = 5%…

Q: How much should Mr. Reyes deposit each year

A: An annuity is a fixed amount that is deposited by an investor over a certain period at a fixed…

Q: Michael is updating his estate plan for himself and his family. He would like to provide an income…

A: Present value refers to the current valuation for a future sum. Investors determine the present…

Q: travelling. Her bank account pays 4.99% compound inter How much interest will Sandra receive from th…

A: interest can be calculated from future value and present value =Difference between future value and…

Q: Peter is 65 years old and has just attended his retirement party. He has amassed $1.50 million in…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: A woman is planning for retirement in 30 years and decides she can deposit $6,000 each year on…

A: An Annuity Due is a stream of regular periodic payments made at a beginning of period for a…

Q: s

A: Given  n =30 i =11%   Now Find the value of his account when he is 60 years old.

Q: Mr. Arman has decided to start saving for his retirement. Beginning on his twenty-sixth birthday,…

A: It is required to find the future value in the accounts of Mr. A and Mr. J to know who will be…

Q: How much money did he have for retirement?

A: Future Value of Annuity: It is the future worth of the present annuity stream cash flows and is…