Suppose you have $4,000,000 when you retire and want to withdraw an equal amount each year for the next 35 years. How much can you withdraw each year if you earn 8% and 12%?

Q: money should he have

A: A retirement plan refers to the financial strategies of saving, investments, or distributing money…

Q: Your financial advisor has encouraged you to save $500 each month for retirement. You expect to…

A: Money at the end of 40 Years  = Monthly deposit × 12 months × Years of Deposit = $500 × 12 × 40 =…

Q: You believe you will spend $44, 000 a year for 16 years once you retire in 32 years. If the interest…

A: TVM refers to the concept that considers the effect of money's interest-earning capacity, which…

Q: If you want to retire with $2,000,000 in 45 years and can earn a rate of 10% with monthly…

A: The retirement amount to be required (FV) is $2,000,000. The maturity period is (NPER) 45 years. The…

Q: You just received $333,000 from an insurance settlement. You have decided to set this money aside…

A: given, pv =$333,000 n= 27 years n= 8.99%

Q: suppose you want to make sure you have 2,000,000 when you retire in 35 years. what even annual…

A: We need to use future value of ordinary annuity formula to calculate the annual payment. The formula…

Q: You are scheduled to receive Rs. 360,000 in two years. When you receive it, you will invest it for…

A: The future value function or concept can be used to determine the future value of a present sum or…

Q: When you retire, you plan to draw $50,000 per year from your retirement accounts, which will be…

A: Annuity is the no. of payments which are equal in size and made in equal interval of time. Person…

Q: c. The Flemings will need $160,000 annually for 20 years during retirement. How much will they need…

A: A retirement account is an account that compounds savings to be further utilized after retirement.…

Q: What will your account be worth in 35 years if you invest $5,000 each year, beginning one year from…

A: Time = t = 35 YearsPayment = p = $5000Interest Rate = r = 15%

Q: Suppose you have just started 26th year of your life, you plan to retire at the end of age 65, and…

A: The following information has been given:Initial income=$48000Growth rate= 0.2% per month…

Q: You have 35 years left until retirement and want to retire with $4.5 million. Your salary is paid…

A: Salary received at the end of the current year$63,000Salary increment percentage3.3%Annual…

Q: Your parents will retire in 22 years. They currently have $250,000 saved, and they think they will…

A: Future value is the value of current asset at a particular date in the future when it has earned…

Q: You are 65 years old and about to retire. You have $100,000 saved in a retirement account and would…

A: The present value of the amount represents the current value of the future cash flows. The…

Q: If you desire to have $80,000 for a down payment for a house in 7 years, what amount would you need…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: You have just retired with savings of $8 million. If you expect to live for 34 years and to earn 14%…

A: Here; We have Savings of $8million Expected life is 34 years Interest rate is 14% To Find: Yearly…

Q: You have just made your first $1,500 contribution to your retirement account. Assume you earn a…

A: FV = PV(1 + r)t FV= Future Vale PV = Present Value r= rate of interest t = time in years

Q: You have just retired with savings of $7 million. If you expect to live for 34 years and to earn 7%…

A: It's a problem of annuity due                         Just retired with savings of 7 million…

Q: At the end of this year, you intent to contribute $5000 to your retirement account. You are…

A: This is a case of growing annuity. An annuity refers to a stream of cash flows occurring repeatedly…

Q: You plan to retire at the age of 65 and be able to live for 30 years paying yourself $80,000 per…

A: Time period after retirement is 30 years. Required Retirement income is $80,000 per year. Interest…

Q: You are trying to calculate how much money you should have at retirement. On your 55th birthday you…

A: TVM refers to the concept that considers the effect of money's interest-earning capacity, which…

Q: You are planning to retire in forty years. You will be spending $30,000 per year, starting at the…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: How much can be accumulated for retirement if $2,000 is put aside at the end of each of the next 40…

A: The Future Value of an Ordinary Annuity refers to the concept which gives out the compounded or…

Q: You have just retired with savings of $2 million. If you expect to live for 54 years and to earn 10%…

A: Current Savings are $2 million The time period is 54 years The interest rate is 10% Annuity type is…

Q: Your parents will retire in 26 years. They currently have $360,000 saved, and they think they will…

A: Interest rate refers to the charge that is paid by the borrower to the lender on the amount of…

Q: As part of your financial planning and to supplement your retirement, you decided to save $3000 at…

A: Future value is the expected value of the current amount at a future date at a given specific rate…

Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…

A: The Future Value of Annuity Payments refers to the value of a series of cash flows (payments or…

Q: You want to retire in 20 years. You currently have $200,000, and think you will need $1.5 million at…

A:

Q: You want to retire in 25 years. You currently have $150,000, and think you will need $1.3 million at…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: How much must you deposit each year into your retirement account starting now and continuing through…

A: yearly deposit refers to the amount deposited every year for the accumulation of money for the…

Q: If the rate of interest (r) is 9%, then you should be indifferent about receiving $7500 in one year…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: You decide you need to generate 4,500 a month from your retirement savings to live comfortably. You…

A: Monthly retirement income=$4500Retirement life=30 yearsInheritance fund-$2000000Interest rate=8%

Q: Your parents will retire in 26 years. They currently have $230,000 saved, and they think they will…

A: Interest rate refers to the charge that is paid by the borrower to the lender on the amount of…

Q: You'd like to have $1,000,000 saved in 35 years so that you can retire a little bit early. If you…

A:

Q: You just retired to find your retirement savings account has reached $1,000,000. The savings account…

A: Value of the account "PV" = $1000000 Continuous rate "r" = 3.1% Annuity or payment every year "PMT"…

Q: Your parents are planning to retire in 20 years. They currently have $1,000,000 and they would like…

A: The objective of this question is to find out the annual interest rate required for an investment of…

Q: Suppose, again, that you want to retire at age 65 and to cover 25 years of regular, annual, $60,000…

A: The objective of the question is to calculate the present value of the retirement fund needed to…

Q: You have just retired with savings of $4 million. If you expect to live for 57 years and to earn 13%…

A:

Q: The Flemings will need $80,000 annually for 20 years during their retirement. How much will they…

A: The present value of the annuity is the current value of a series of annuity payments.It shows the…

Q: You are planning to retire in 20 years, and your goal is to accumulate a sum of $1 million in your…

A: In this question we require to compute the money to be invested each year to have $1 million in 20…

Q: Your parents will retire in 19 years. They currently have $200,000 saved, and they think they will…

A: Interest rate:An interest rate is the cost of borrowing money or the return on investment…

Q: A 30 year old person plans to retire at age 65 with an equivalent lump sum of $1,000,000. They…

A: Here,Current Age is 30 years oldRetirement age is 65 years oldTime Period of Savings will…