Question

Andrew wishes to retire in 12 years and currently he has RM50,000 in savings account yielding...

Andrew wishes to retire in 12 years and currently he has RM50,000 in savings account yielding 5 percent annually and RM100,000 in stocks yielding 10 percent per annum. If he expects to add RM10,000 to his savings account and RM20,000 to his stock portfolio at the end of each year, how much is his retirement funds when he retires?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

ANSWER IN THE IMAGE ((YELLOW HIGHLIGHTED). FEEL FREE TO ASK ANY DOUBTS. THUMBS UP PLEASE. THUMBS UP PLEASE.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You wish to retire in 20 years. Currently, your pre-retirement fund has RM50,000 in a savings...
You wish to retire in 20 years. Currently, your pre-retirement fund has RM50,000 in a savings account yielding 3.0% annually and RM300,000 quality stocks yielding 11.0% annually. Furthermore, you expect to add RM8,000 to the savings account and RM15,000 to your stock portfolios at the end of each year in the next 20 year. You will keep this fund until the retirement date. 1.Calculate the overall rate of return per year that you must earn on your post-retirement fund if...
Apply Basic Annuities: John is currently 25 years old. He has $10,000 saved up and wishes...
Apply Basic Annuities: John is currently 25 years old. He has $10,000 saved up and wishes to deposit this into a savings account which pays him J12 = 6% p.a. He also wishes to deposit $x every month into that account so that when the retires at 55, he can withdraw $2,000 every month end to support his retirement. He expects to live up till 70 years. How much should he deposit every month into his savings account?
Your father is 50 years old and will retire in 10 years. He expects to live...
Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $60,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24...
Your father is 50 years old and will retire in 10 years. He expects to live...
Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $40,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24...
our father is 50 years old and will retire in 10 years. He expects to live...
our father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $60,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24...
Your father is 50 years old and will retire in 10 years. He expects to live...
Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $40,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24...
Your father is 50 years old and will retire in 10 years. He expects to live...
Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $45,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24...
Problem #3 Rup is planning to retire in 35 years. He wishes to deposit a regular...
Problem #3 Rup is planning to retire in 35 years. He wishes to deposit a regular amount every quarter until he retires so that, beginning one-year following his retirement, he will receive annual payment of $100,000 for the next 20 years. The interest rate is 10% compounded monthly. How much money he must have in his savings account at retirement? How much money must he deposit every quarter for the next 35 years?
Your father is 50 years old and will retire in 10 years. He expects to live...
Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $55,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24...
Your father is 50 years old and will retire in 10 years. He expects to live...
Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $50,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT