Ruben and his wife Nicky have been married for 25 years and are planning to retire this year. Jason's PIA is $2,000. Renee's PIA is $800. Assuming they are both full retirement age, what is their maximum joint retirement benefit under Social Security? $3,000 $4,000 $2,000 $2,800

Ruben and his wife Nicky have been married for 25 years and are planning to retire this year. Jason's PIA is $2,000. Renee's PIA is $800. Assuming they are both full retirement age, what is their maximum joint retirement benefit under Social Security? $3,000 $4,000 $2,000 $2,800

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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Urmilaben
Mary plans to make the following contributions to her retirement account: $10,000 for each of the next ten years, and $12,000 for each of the ten years after that. If her savings earn 5%, how much will she have at the end of the 20 years. Ignore taxes and assume that the contributions are made at the end of the year.
You annually invest $2,000 in an individual retirement account (IRA) starting at the age of 30 and make the contributions for 15 years. Your twin sister does the same starting at age 35 and makes the contributions for 25 years. Both of you earn 7 percent annually on your investment. What amounts will you and your sister have at age 60? Use Appendix A and Appendix C to answer the question. Round your answers to the nearest dollar.Amount on your account: $ Amount on your sister's account: $ Who has the larger amount at age 60?-Select-You haveYour sister hasItem 3 the larger amount.
A couple just got married and they are both 25 years of age. They each plan to retire in 40 years at the age of 65. They want to be able to receive $200,000 at the end of each year for 20 years, upon retirement. Currently they have a total of $2,000 in cash savings. In addition they expect to receive a total of $100,000 as a retirement bonus at the end of 40 years from their employer. How much must they save at the end of each year for the next 40 years so as to have enough money to achieve their retirement goal? Assume the interest rate is 8% and will remain the same.Using all the answers to the previous questions, what is the present value today of the amount that they need to save up to reach their retirement objective?
Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 74.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 74.0 when he fully retires, he will wants to have $2,565,252.00 in his retirement account. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assume a 9.00% interest rate.
(Saving for retirement-future value of an annuity) Selma and Patty Bouvier are twins and both work at the Springfield DMV Selma and Patty Bouvier decide to save for retirement, which is 35 years away. They'll both receive an annual return of 11 percent on their investment over the next 35 years. Selma invests $2,000 per year at the end of each year only for the first 10 years of the 35-year period for a total of $20,000 saved. Patty doesn't start saving for 10 years and then saves $2,000 per year at the end of each year for the remaining 25 years-for a total of $50,000 saved. How much will each of them have when they retire? a. How much will Selma have when she retires? (Round to the nearest cent.).
Maria and Roberto Cruz's financial adviser told them they will need 80 percent of their preretirement income to live comfortably. Their annual preretirement income is $75,000. What will their annual retirement income need to be?
A couple is saving for retirement with three different accounts. The table below shows the current balances in their accounts, along with their yearly contribution, and the yearly return on each account. The couple will retire in 24.00 years and pool the money into a savings account that pays 4.00% APR. They plan on living for 30.00 more years and making their yearly withdrawals at the beginning of the year. What will be their yearly withdrawal? Yearly Contribution $1,000.00 Account Fidelity Mutual Fund Vanguard Mutual Fund Employer 401k Balance $21,452.00 $183,845.00 $307,061.00 Submit Answer format: Currency: Round to: 2 decimal places. $10,000.00 $15,000.00 APR 7.00% 7.00% 6.00%
A couple is saving for retirement with three different accounts. The table below shows the current balances in their accounts, along with their yearly contribution, and the yearly return on each account. The couple will retire in 23.00 years and pool the money into a savings account that pays 3.00% APR. They plan on living for 28.00 more years and making their yearly withdrawals at the beginning of the year. What will be their yearly withdrawal? Yearly Contribution $1,000.00 $10,000.00 Account Fidelity Mutual Fund Vanguard Mutual Fund Employer 401k Balance $23,186.00 $180,962.00 $315,917.00 Submit Answer format: Currency: Round to: 2 decimal places. $15,000.00 APR 6.00% 8.00% 6.00%
Nan and Neal are twins. Nan Invests $5,000 at age 25 while Neal invests the same amount at age 30. Nan houses a retably eaten duten annual interest rate of 7%. Both twins plan to retire at age 65 and neither adds nor withdrews funds prior to remental would to have the sa money as Nan by their retirements, what annual interest rate must his investment eam? OA8.17 % OB.8.04% OC.8.66% O D. 8.00% OE. None of these are correct
Andrea, a self-employed individual, wishes to accumulate a retirement fund of $250,000. How much should she deposit each month into her retirement account, which pays interest at a rate of 4.5%/year compounded monthly, to reach her goal upon retirement 20 years from now? (Round your answer to the nearest cent.
Your mother's employer offers a tax-deferred retirement plan (a 401-b plan, which was authorized by Congress to encourage savings) which would permit her to invest, tax-free until she retires, up to 15 percent of her salary. Once you are out of school (one year from today), she figures she can save $1,000 every 6 months, or $2,000 per year. The insurance company which manages the retirement fund promises to pay a stated (or simple) rate of 12 percent per year, but with quarterly compounding. If your mother invests $1,000 each six months, starting six months after you graduate (or 18 months from today), how much will she have 5 years from now, assuming the last payment is made at the end of Year 5? (Hint: She will make a total of 8 payments.) Group of answer choices $9,929 $12,300 $12,462 $9,897 $10,000

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