our company’s pension plan earns 4.3 % interest per year, compounded quarterly. a) You would like to receive payments of $40,000 quarterly while retired. If you would like these payments paid out over 25 years, what amount of money will you need in your pension fund at the beginning of your retirement years? Give the answer correctly to 2 decimal places, and do not use the $ sign in the answer box. The money you will need at the beginning of your retirement years is Blank 1. Calculate the answer by read surrounding text. dollars. b) Use your answer from part a to help you to determine how much you should put into your pension fund quarterly during your working years to reach your retirement goals. Assume you are planning to work for 30 years. Give the answer correctly to 2 decimal places, and do not use the $ sign in the answer box. The amount you should deposit quarterly during your working years is Blank 2. Calculate the answer by read surrounding text. dollars.
Your company’s pension plan earns 4.3 % interest per year, compounded quarterly.
a) You would like to receive payments of $40,000 quarterly while retired. If you would like these payments paid out over 25 years, what amount of money will you need in your pension fund at the beginning of your retirement years?
Give the answer correctly to 2 decimal places, and do not use the $ sign in the answer box.
The money you will need at the beginning of your retirement years is Blank 1. Calculate the answer by read surrounding text. dollars.
b) Use your answer from part a to help you to determine how much you should put into your pension fund quarterly during your working years to reach your retirement goals. Assume you are planning to work for 30 years.
Give the answer correctly to 2 decimal places, and do not use the $ sign in the answer box.
The amount you should deposit quarterly during your working years is Blank 2. Calculate the answer by read surrounding text. dollars.
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