4. A young engineer at the age of 25 wants to accumulate the amount P3.5M when he retires at the age of 65. What would be his monthly deposit if he start depositing one month after his 25th birthday? The interest earned by the monthly deposits is 12.00% pa compounded monthly?

Q: Henry would like to have a retirement income of $3,000 per month (month-end payments). How much must…

A: The present value of annuity refers to the current value of a series of future cash flows or…

Q: suppose you put $1500 into your IRA this year. You do not make any additional contributions to the…

A: given, pv = $1500 r=10.5% n = 42 years

Q: Derek will deposit $1,169.00 per year into an account starting today and ending in year 5.00. The…

A: The FV of an investment refers to the combined value of the cash flows at a future date assuming…

Q: 12. Don opened a retirement account with an APR of 3.25% compounded monthly. He is planning to…

A: Given information: Monthly deposits : $750 APR : 3.25% Time until retirement : 15 years

Q: A worker saves for retirement from year 2035 to year 2056, starting with $10,000 in 2035 and…

A: Annuity is the amount that can be withdrawn from amount saved over period of time for retirement.

Q: You would like to have $800,000 when you retire in 30 years. How much should you invest each quarter…

A: Amount required (FV) = $800,000 Quarterly interest rate (r) = 0.005 (i.e. 0.02 / 4) Number of…

Q: Starling wants to retire with $2, 110,000 in his retirement account exactly 41 years from today. He…

A: The FV of an investment refers to the cumulative worth of the investment's cash flows at a future…

Q: I want 800000 for retirement in 25 years. How much would she need to deposit into the account each…

A: Future value (FV) = 800,000 Period = 25 Years Number of monthly deposits (n) = 25*12 = 300 Interest…

Q: Suppose you want to have $300,000 in the bank when you retire in 45 years and the bank pays 3%…

A: given, rate = 3% no of years= 45 FV= 300,000

Q: 2. An employee plans on working and contributing to his retirement account monthly for 32 years and…

A: Annuity refers to series of equalized payments that are received or paid either at start or end of…

Q: Suppose that Jacob would like to invest at the end of each month for the next 15 years into an…

A: Ordinary Annuity refers to series of equalized payments that are made at end of period for certain…

Q: You have just made your first $1,500 contribution to your retirement account. Assume you earn a…

A: FV = PV(1 + r)t FV= Future Vale PV = Present Value r= rate of interest t = time in years

Q: Say that you plan to retire in 9 years. Starting today, you plan to make 9 annual contributions of…

A: Number of Payment = n = 9Payment = p = $6600Interest Rate = r = 6.7%special contribution = c =…

Q: An engineer plans to deposit $3000 at the end of each year into a retirement account that pays 4%…

A: FV =P x [(1+r)n - 1] / rWhere: FV = Future value P = Amount deposited each year r = Interest rate…

Q: At the end of this year, you intent to contribute $5000 to your retirement account. You are…

A: This is a case of growing annuity. An annuity refers to a stream of cash flows occurring repeatedly…

Q: A 25 years old Engineer wants to retire at age 65 with $1,000,000 in his 401k account. If his  401K…

A: A monthly deposit of a fixed amount at equal intervals for a fixed period of time is a type of…

Q: if i invest $8000 in a retirement account with 6% interest, and its compounded quarterly, how long…

A: Present value is the estimation of the current value of future cash value which is likely to be…

Q: How much can be accumulated for retirement if $2,000 is put aside at the end of each of the next 40…

A: The Future Value of an Ordinary Annuity refers to the concept which gives out the compounded or…

Q: Suppose that you are to make annual deposit of $3,000 into a retirement account that pays 11%…

A: Future value of the amount is the worth of the current amount in some future specified date at given…

Q: Suppose you deposit $1,500.00 into and account 7.00 years from today into an account that earns…

A: Future value is an estimated value of a current asset at an assumed growth rate over a certain…

Q: Suppose that you'd like to retire in 40 years and you want to have a future value of $ 800000 in a…

A: Compound = monthly = 12 Time = t = 40 * 12 = 480 Future value = fv = $800,000

Q: 1. An employee plans on working and contributing to his retirement account monthly for 30 years and…

A: According to the rule, because you have posted multiple questions, we will answer the first question…

Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…

A: The Future Value of Annuity Payments refers to the value of a series of cash flows (payments or…

Q: I am 25 years of age.

A: Current age is 25. After 4 years, individual starts depositing on monthly basis. Deposits are made…

Q: 1.I plan to deposit $376 into my retirement every year for the next 25 years. The first deposit will…

A: When an individual deposits a recurring sum of investment each period at the beginning of that…

Q: Suppose that you’d like to retire in 40 years and you want to have a future value of $ 1000000 in a…

A: Annuity(monthly instalment) is calculated by annuity from future value formula: Annuity from future…

Q: To prepare for retirement, you are going to deposit money into a pension plan account every month…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: You wish to save P2,500,000 for your retirement by saving a certain sum every month for the next 40…

A: Future Value of Annuity Due refers to the concept which dictates the compounded value of a sum of…

Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…

A: Annual rate (r) = 3% or 0.03Annual Payment (P) = $1,400Number of years (n) = 65 - 25 = 40Payment…

Q: Suppose you want to have $500,000 for retirement in 25 years. Your account earns 9% interest. a) How…

A: An annuity is a series of equal payments made at regular intervals. It accumulates interest on a…

Q: On your 35th birthday, you open a retirement account that pays 6% interest each year. You want to…

A: Annuity refers to a series of cash flow that occurs periodically and at constant intervals. Here the…

Q: 7. You graduate from the Trobe University on your 25th birthday and you immediately find a job with…

A: The objective of this question is to calculate the total amount saved for retirement, given a fixed…

Q: Kobe is retiring in 19 years, and wants to save some money. He will make bi-weekly deposits of…

A: Bi-weekly Deposit = $513.38 Time Period = 19 Years Interest Rate = 2.750% compounded semi-annually

Q: Example: A person wants to withdraw $1000 every month, for 21 years, to supplement their pension…

A: An employer-provided pension to their employee under a retirement program, this program gives…

Q: Say that you plan to retire one quarter after making quarterly contributions to a retirement account…

A: The question revolves around the idea of the future value of an annuity, a basic concept in finance…

Q: You want to be able to withdraw $20,000 from your account each year for 30 years after you retire.…

A:

Q: If your account earns 8% interest, how much will you need to deposit each year until retirement to…

A: Given in the question: Interest rate = 8% Person wants to get the $40,000 each year after retirement…

Q: When you retire at 65, you wish to be able to have $3,000 each month for 25 years. How much would…

A: Firstly calculate the present value of annuity with $3000 as PMT and 25 years, use this present…

Q: A mother wishes to have Php800,000 eight years from today for her son’s graduation. How much should…

A: Future value (FV) = Php800,000 Monthly interest rate (r) = 0.0116666666666667 (i.e. 0.14 / 12)…

Q: A young professional wishes to have $820000 in her retirement account. Its current value is $36000.…

A: This question can be solved using the Goal seek function of What if Analysis.  Let the number of…