Over the years, Ahmed and Aamina El-zayaty, of Berkeley, California, have accumulated $198,000 and $225,000, respectively, in their employer-sponsored retirement plans. If the amounts in their two accounts earn a 6 percent rate of return over Ahmed and Aamina's anticipated 20 years of retirement, how large an amount could be withdrawn from the two accounts each month? Use the Garman/Forgue companion website or Appendix A-4 to make your calculations. Round Present Value of a Series of Equal Amounts in intermediate calculations to four dec decimal places. Round your answers to the nearest dollar Ahmed could withdraw s Aamina could withdraw s

Over the years, Ahmed and Aamina El-zayaty, of Berkeley, California, have accumulated $198,000 and $225,000, respectively, in their employer-sponsored retirement plans. If the amounts in their two accounts earn a 6 percent rate of return over Ahmed and Aamina's anticipated 20 years of retirement, how large an amount could be withdrawn from the two accounts each month? Use the Garman/Forgue companion website or Appendix A-4 to make your calculations. Round Present Value of a Series of Equal Amounts in intermediate calculations to four dec decimal places. Round your answers to the nearest dollar Ahmed could withdraw s Aamina could withdraw s

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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Irene plans to retire on December 31st, 2019. She has been preparing to retire by making annual deposits, starting on December 31st, 1979, of $2450 into an account that pays an effective rate of interest of 9.1%. She has continued this practice every year through December 31st, 2000. Her goal is to have $1.5 million saved up at the time of her retirement. How large should her annual deposits be (from December 31st, 2001 until December 31st, 2019) so that she can reach her goal? Payment = $68573.5
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