Question

Jones is planning for his retirement, which he understands will be in 6 years. She would like to retire with at least $ 500,000 at that time. It already has accumulated $ 150,000, which it has just deposited at an interest rate of 6% per year, compounded annually. How much will you have to invest at the end of each period to achieve your retirement and if you assume that the annual interest rate of 12% on the remaining will be compounded quarterly?

Answer #1

An engineer on the is planning to retire in 10 years. She has
accumulated savings of $450,000 that are in an account paying 7%
interest compounded quarterly. If she makes no more deposits, how
much would her retirement savings be when she retires?
(a) $765,223
(b) $885,215
(c) $900,719
(d) $999,756

Marcia Stubern is planning for her golden years. She will retire
in 20 years, at which time she plants to begin withdrawing $50,000
annually to pay for living expenses. He is expected to live for 30
years following her retirement. Her financial advisor thinks she
can earn 7% annually before retirement and 10% after his
retirement. How much does he need to invest at the end of each
quarter to prepare for his fnancial needs after retirement.

Ben Cunnington is planning for his retirement and has $50,000 to
invest as a lump sum into a retirement investment plan. Ben plans
to work for another 35 years before retiring at the age of 65 and,
as well as the $50,000 lump sum, he plans to deposit $1,500 into a
capital secured share index fund each month of his remaining
working life. He estimates that his retirement account will
generate an annual return of 7%. Ben plans to retire...

Emily Dorsey's current salary is $84000 per year, and she is
planning to retire 20 years from now. She anticipates that her
annual salary will increase by 2000 each year ($84000 the first
year, to $86000 the second year, $88000 the third year, and so
forth), and she plans to deposit 5 % of her yearly salary into a
retirement fund that earns 4 % interest compounded daily. What will
be the amount of interest accumulated at the time of...

A company offers you employment for the next 25 years until
retirement but will not pay you a pension when you do retire, so
you start investing now for your retirement. You know you can earn
6% compounded monthly on an available investment for the next 25
years until you retire. During retirement, you will earn 4%
compounded annually on any funds remaining in the investment, and
you expect to withdraw $120,000 at the end of each year of your...

A company offers you employment for the next 25 years until
retirement but will not pay you a pension when you do retire, so
you start investing now for your retirement. You know you can earn
6% compounded monthly on an available investment for the next 25
years until you retire. During retirement you will earn 4%
compounded annually on any funds remaining in the investment, and
you expect to withdraw $120,000 at the end of each year of your...

7)
You just turned 50 years old
and are planning to retire in 15 years.
You have decided you would like to receive an
annuity rather
than keeping a lum sum. If you invest $12,500 at
the end of
each of the next 10 years, what will your annual
payment
be at the beginning of the first year of your
retirement?
You can assume an interest rate of 6.5% for the
entire period.
The value of $12,500 deposited annually in...

Nikola is currently 47 years old and planning to retire at age
63. She has already saved $247,000.00 in her RRSP. If she continues
to contribute $400.00 at the beginning of every month, how much
money will be in her RRSP at retirement if it can earn 8%
compounded monthly? No deposit is made the day she turns 63.
At retirement, Nikola’s $247,000.00 will have grown to
and her $400.00 deposits will have grown to
, for a total of...

You are currently 30 years old. You would like to retire at 65
and be able to withdraw $85,000 for 25 years after the retirement
at the beginning of each year. The first withdrawal will occur the
day your retire. You have managed to save $50,000 that you will
invest in an IRA. In addition to your initial $50,000 investment,
how much will you have to deposit into the IRA every year starting
one year from now in order to...

An engineer is on the verge of retirement. She saved $ 100,000 which is
deposited in an account that pays 6% interest per year capitalized
quarterly. His plan is to withdraw $ 6,000 per quarter to satisfy his
needs. In how many years will she use up her savings?

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