Ashley invests $250 a month in her 401(k) retirement account, which earns an 8 percent annual return. After 35 years, how much money will she have in the account over and above the amounts she will contribute through the years?
Q: Tracy wants to have $400,000 when she retires in 40 years' time. How much should she deposit at the…
A: Payment per period can be calculated using PMT function in excel. PMT(rate, nper, pv, [fv],…
Q: how long in years and months will she receive the payments
A: RRSP: RRSP stands for Registered Retirement Savings Plan. RRSP is a kind of retirement savings and…
Q: A civil engineer planning for her retirement places 8% of her salary each year into a…
A: To calculate the future worth we will use the future value of growing annuity formula as follows:…
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A: An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two…
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A: Calculation of Amount at the end of 17 years:To calculate the amount at the end of 17 years, the…
Q: Kun is thinking about investing $4,000 at the end of each year for 30 years in a tax-sheltered…
A: Annual investment (P) = $ 4,000 Interest rate (r) = 8.5% Number of annual deposits (n) = 30
Q: Una Day is planning to retire in 20 years, at which time she hopes to have accumulated enough money…
A: Retirement fund: A retirement fund is a particular fund into which people contribute money in order…
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A: The question is related to Net Worth as on December 31st 2021. Net Worth = Total Assets -…
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A: Annual savings means the highest demand or energy savings that occur in a given year. Annual…
Q: Sherry has a goal of retiring with $375,394 by making weekly deposits into an investment account…
A: Present value =Future amount/(1+r)n n=29 years r=rate of interest =1.4%
Q: A woman, with her employer's matching program, contribute $700 at the end of each month to her…
A: Monthly withdrawal refers to the amount that is withdrawn from the bank on the respective date of…
Q: Anthony is 30 years old and just received an inheritance from his parents' estate. He wants to…
A: Annuity is the term used for a payment if it is done repeatedly.
Q: Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average…
A: The future value function or concept can be used to determine the future value of a present sum or…
Q: Currently, Ally Gator has saved $15,000 in her retirement account. Ally plans on saving $6000…
A: The present value of cash flows presents the discounting value of future cash flows that arises in…
Q: Emek is planning to retire in 15 years. She decides to start saving toward building up a retirement…
A: Here,
Q: An engineer planning for her retirement will deposit 15% of her salary each year into a stock fund.…
A: The future value is the amount that will be received at the end of a certain period. In simple…
Q: Stephanie is going to contribute $160 on the first of each month, starting today, to her retirement…
A: Retirement refers to the period after an employee terminates its current job either voluntarily or…
Q: John wants to have the financial ability to withdraw $80,000 per year forever beginning 30 years…
A: The formula to compute present worth of project with infinite life period as follows: Capitalized…
Q: Kristen plans to retire at age 56, and estimates that $50,400 a year in retirement for 25 years will…
A: Current Age = 27 Retirement Age = 56 Time Period for savings = 29 years or 348 months Retirement…
Q: Mary plans to make the following contributions to her retirement account: $10,000 for each of the…
A: In order to find how much money she will have one has to calculate the future value after 20 years.
Q: Maryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 5…
A: The future value is the amount that will be received at the end of a certain period. In simple…
Q: Levi plans to retire at age 66, and estimates that $61,200 a year in retirement for 20 years will be…
A: The amount needed at retirement will be equal to the present value of all the payments needed after…
Q: Jennifer's pension plan is an annuity with a guaranteed return of 4% per year compounded quarterly.…
A: A pension plan is a kind of retirement account that is being created by an individual who seeks…
Q: Alexandra is 30 years old today, and she is planning to retire at age 65. Her current salary is…
A: The payment for retirement funds is 10% of income but because the income is increasing by 5%, the…
Q: she contributes $250 at the beginning of each month, with her employer doing the same, how much will…
A: Future Worth: It is the future value of the current sum of money or current annuity cash flows.…
Q: A civil engineer planning for her retirement places 9% of her salary each year into a…
A: Salary = $160,000 Percentage in the retirement plan = 9% Growth rate = 5% Time period = 16 years…
Q: Tameshia deposits $5500 in her retirement account every year. If her account pays an average of 6%…
A: We get future value of depositsUse FV function in excel Type =FV and press tab key. Type 6%, (this…
Q: Andrea, a self-employed individual, wishes to accumulate a retirement fund of $550,000. How much…
A: Computation of interest:
Q: Sara decides to set up a retirement fund by depositing $24 at the end of each day for 13 years. How…
A: Let's begin by calculating Effective Interest rate Formual for Effective Interest Rate = (1 +…
Q: Jamie wants to have $800,000 for her retirement in 25 years. How much should she save annually if…
A: The present value is the value of the sum received at time 0 or the current period. It is the value…
Q: Debbie invests $5,500 in her IRA account each year for 40 years. If she earns 7% return annually on…
A: We need to use the concept of time value of money to solve the question. According to the concept of…
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A: Given:
Q: o save Php 2 750 at the end of every 6 months, which is the amount paid into her retirement plan by…
A: The given problem can be solved using FV function in excel. FV function computes amount balance in…
Q: To help out with her retirement savings, Kaitlin invests in an ordinary annuity that earns 4.8%…
A: Rate of Interest = 4.8% Compounded Monthly Time Period(t) = 18 years n = 12 Future Value = $97,000…
Q: Maria Anguiano's current salary is $80,000 per year, and she is planning toretire 25 years from now.…
A: Future value is the value of the present cash flows after certain period. Due to interest that can…
Q: Gary decides to set up a retirement fund by depositing $300 at the end of each week for 29 years.…
A: Payment frequency is weekly. However, the interest rate is 2.11%, compounded semiannually. Hence we…
Q: George plans to retire in 15 years. His current household expenses are $91000 per year. He estimates…
A: Estimate Retirement Expense = Current household expenses - Expenses that are not required after…
Q: To ensure his retirement income, a 40-year old man plans to purchase annuity when he turns 65. The…
A: Monthly Annuity Payments = 7500 Time Period = 20 years * 12 = 240 months Interest % = 5%/12 End of…
Q: Soledad decides to save P2,700 at the end of every 6 months, which is the amount paid into her…
A: Future Value = P x [{(1 + r)^n} - 1] / r Here, P = Periodic Payment i.e. P2700 r = Periodic Interest…
Q: Shaikha is investing 472 today and will continue to do so at the beginning of each year for the next…
A: Given, Payment made 472. Interest rate is 9%. Term of payment is 10.
Q: Barb has a retirement account of $1,000,000 that earns 2% compounded monthly. If she wishes to…
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Q: Emily Dorsey’s current salary is $90,000 peryear, and she is planning to retire 22 years from…
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Q: Spencer plans to work for 45 years. He also plans to spend $250,000 per year during his 40 years of…
A: Retirement planning entails making preparations now for your future life so that you can continue to…
Q: Izzie contributes $100 every other week from her paycheck to her retirement savings account. which…
A:
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- Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?Carla Lopez deposits $2,500 a year into her retirement account. If these funds have an average earnings of 5 percent over the 40 hears until her retirement, what will be the value of her retirement account?Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she wil need to have $1,000,000 in her retirement savings account in order to live comfortably. Mary currently has no retirement savings, and her investments will earn 6% annually. How much must she deposit into her account at the end of each of the next 40 years to meet her retirement savings goal?
- Mary plans to make the following contributions to her retirement account: $10,000 for each of the next ten years, and $12,000 for each of the ten years after that. If her savings earn 5%, how much will she have at the end of the 20 years. Ignore taxes and assume that the contributions are made at the end of the year.Janice is hoping to save $200,000 by the time she retires in 20 years. How much must Janice deposit annually at the end of each year to reach this retirement goal on December 31, Year 20, assuming she can earn a 4% annual rate of return on her retirement account?Jennifer is planning her retirement. She currently has $6,783 in an IRA account that will return 8% per annum as long as she keeps the money on deposit. She will save $2,000 at the end of each year for the next 32 years until she retires in an account that she expects will earn 7% per annum. How much will she have when she retires?
- Asha feels she needs $45,000 per year in retirement. If she receives $30,000 a year from Social Security , at what interest rate must Asha invest her $25,000 of savings for her total income to be at least $45,000 per yearAndrea, a self-employed individual, wishes to accumulate a retirement fund of $250,000. How much should she deposit each month into her retirement account, which pays interest at a rate of 4.5%/year compounded monthly, to reach her goal upon retirement 20 years from now? (Round your answer to the nearest cent.Sherry has a goal of retiring with $427,480 by making weekly deposits into an investment account whose annual interest rate is 1.1%. If she will retire in 25 years, how much interest will she earn?
- Joanna is making a financial plan for her retirement. Today is her 35th birthday, and she receives $150,000 from her grandmother's will. She plans to retire 25 years from now when she turns 60. Once she is retired, she will need to withdraw $4,000 a month for 15 years, starting on the day she retires. She anticipates earning 6% compounded semi-annually for the entire 40 years. How much of her inheritance money must be invested today to meet her retirement goal?A 45-year-old woman decides to put funds into a retirement plan. She can save $2,000 a year and earn 6 percent on this savings. How much will she have accumulated if she retires at age 65? At retirement how much can she withdraw each year for 20 years from the accumulated savings if the savings continue to earn 6 percent?Amy Johnson wants to retire on $75,000 per year for her life expectancy of 20 years after she retires. She estimates that she will be able to earn an interest rate of 10.1%, compounded annually, throughout her lifetime. To reach her retirement goal, Amy will make annual contributions to her account for the next 30 years. One year after making her last deposit, she will receive her first retirement check. How large must her yearly contribution be? (Solve with Presents Values with Annuities or Loans and Amortization)
