Question

Your client is 21 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $8,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 11% in the future.

a. If she follows your advice, how much money will she have at 65? Round your answer to the nearest cent.

$

b. How much will she have at 70? Round your answer to the nearest cent.

$

c. She expects to live for 20 years if she retires at 65 and for 15 years if she retires at 70. If her investments continue to earn the same rate, how much will she be able to withdraw at the end of each year after retirement at each retirement age? Round your answers to the nearest cent.

Annual withdrawals if she retires at 65: $

Annual withdrawals if she retires at 70: $

Answer #1

Your client is 21 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $10,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 6%
in the future.
If she follows your advice, how much money will she have at 65?
Round your answer to the nearest cent.
$
How much will she have at...

Your client is 21 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $7,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 12%
in the future.
*PLEASE DO NOT ROUND YOUR TOTALS!!
A. If she follows your advice, how much money will she have at
65? Round your answer to the nearest cent....

Your client is 23 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $15,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 8%
in the future.
A. If she follows your advice, how much money will she have at
65? Round your answer to the nearest cent.
B. How much will she have...

Your client is 34 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $2,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 8%
in the future.
If she follows your advice, how much money will she have at 65?
Round your answer to the nearest cent.
$
How much will she have at...

Your client is 29 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $8,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 12%
in the future.
A.If she follows your advice, how much money will she have at
65? Round your answer to the nearest cent.
B. How much will she have at...

Your client is 32 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $5,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 9%
in the future.
If she follows your advice, how much money will she have at 65?
Do not round intermediate calculations. Round your answer to the
nearest cent.
$
How...

Your client is 39 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $2,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 10%
in the future.
If she follows your advice, how much money will she have at 65?
Do not round intermediate calculations. Round your answer to the
nearest cent.
$
How...

Your client is 27 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $11,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 7%
in the future.
If she follows your advice, how much money will she have at 65?
Do not round intermediate calculations. Round your answer to the
nearest cent.
$
How...

Your client is 20 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $8,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 11%
in the future.
If she follows your advice, how much money will she have at 65?
Do not round intermediate calculations. Round your answer to the
nearest cent.
How much...

Your client is 29 years old. She wants to begin saving for
retirement, with the first payment to come one year from now. She
can save $14,000 per year, and you advise her to invest it in the
stock market, which you expect to provide an average return of 10%
in the future.
If she follows your advice, how much money will she have at 65?
Do not round intermediate calculations. Round your answer to the
nearest cent.
$
How...

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