Question

You just decided to begin saving for retirement. You will make deposits of $1,000 per month into a retirement account that earns 8.00% p.a. The first deposit is made today and the last deposit will be made when you retire exactly 30 years from today. (Note: you make 361 total monthly deposits into your retirement account.) You will begin to make withdrawals from the account the first month after you retire. If you plan to live an addition 25 years and leave $800,000 to your heirs, you will be able to withdraw $_____. (Note: you make 300 total monthly withdrawals from your retirement account.)

Answer #1

You just decided to begin saving for retirement. You will make
deposits of $1,000 per month into a retirement account that earns
8.00% p.a. The first deposit is made today and the last deposit
will be made when you retire exactly 30 years from today. The day
you retire you will buy an RV for $240,000. You will begin to make
withdrawals from the account the first month after you retire. If
you plan to live an addition 25 years,...

You decide to open a retirement account at your local bank that
pays 9%/year/month (9% per year compounded monthly). For the next
20 years, you will deposit $600 per month into the account, with
all deposits and withdrawals occurring at month’s end. On the day
of the last deposit, you will retire. Your expenses during the
first year of retirement will be covered by your company’s
retirement plan. As such, your first withdrawal from your
retirement account will occur on...

A year from now, you plan to begin saving for your retirement by
depositing $20,000 into a new savings account that has an expected
return of 5.75% compounded monthly. You plan to continue depositing
the same amount each year until you retire in 35 years. You expect
to make withdrawals from your savings account every month for 40
years after you retire. Assume you were asked to find the amount
you will be able to withdraw each month from your...

You are planning to make monthly deposits of $190 into a
retirement account that pays 7 percent interest compounded monthly.
If your first deposit will be made one month from now, how large
will your retirement account be in 20 years?

You just turned 28 and are now seriously planning for your
retirement. You wish to retire two years earlier than the mandatory
retirement age of 65. You hope to be able to make end-of-month
withdrawals from your retirement account of P25,000 per month for a
30-year period after that.
Your plan is to fund your retirement by making monthly deposits
between now and when you retire. The initial monthly deposit will
be made at the end of the coming month....

Question 1 You decide to open a retirement account at your local
bank that pays 7%/year/month (7% per year compounded monthly). For
the next 20 years, you will deposit $400 per month into the
account, with all deposits and withdrawals occurring at month’s
end. On the day of the last deposit, you will retire. Your expenses
during the first year of retirement will be covered by your
company’s retirement plan. As such, your first withdrawal from your
retirement account will...

You are planning to make monthly deposits of $50 into a
retirement account that pays 10 percent interest compounded
monthly. If your first deposit will be made one month from now, how
large will your retirement account be in 18 years?
Multiple Choice
$31,529.57
$360,337.93
$30,028.16
$27,359.50
$28,526.75

You begin saving for retirement at age 25, and you plan to
retire at age 60. You want to deposit a certain amount each month
into an account that pays an APR of 6% compounded monthly. Make a
table that shows the amount you must deposit each month in terms of
the nest egg you desire to have when you retire. (Round your
answers to the nearest cent.)
Nest egg size
Needed deposit
$100,000
$
$200,000
$
$300,000
$
$400,000...

A week from now, you plan to begin saving for your retirement by
depositing $200 into a new savings account that has an expected
return of 7.75% compounded monthly. You plan to continue depositing
the same amount each week until you retire in 40 years. You expect
to make withdrawals from your savings account every year for 35
years after you retire. Assume you were asked to find the amount
you will be able to withdraw each year from your...

A year from now, you plan to begin saving for your retirement by
making a deposit into a new savings account that has an expected
return of 7.5% compounded monthly. You plan to continue depositing
the same amount each year until you retire in 30 years. You expect
to make withdrawals in the amount of $200 from your savings account
every week for 45 years after you retire. Assume you were asked to
find the amount you will need to...

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