A retired couple plans to supplement their retirement income with monthly withdrawals of the interest earned on a retirement account which has a balance of $200,000. a. If the fund earns interest monthly at an APR of 6%, which the couple always withdraws from the account, how much is generated in interest each month? Round/take your answer to the nearest cent. Recall that APR stands for Annual Percentage Rate. %24 b. Estimate (to the nearest tenth of a percent) the annual interest rate needed for this couple to be able to earn $1,350 per month in interest from this $200,000 account. Round your answer to the nearest tenth of a percent, eg., 2.5%.

What should be the balance in a Registered Retirement Income Fund (RRIF) that will provide $3,000 at the beginning of each half-year for 4 years, if the RRIF earns 5.25% compounded monthly?

The value of a retirement savings account with an annual contribution of $600 (contributions made at the end of each year, including the last year), and an APR of 5.4% after 40 years is $79,960.27. Find the value of this retirement savings account after 52 years. Round your answer to the nearest cent. OA. $151,304.82 OB. $165,660.72 OC. $160,075.29 OD. $154,695.52 OE. $169,319.35

Thomas's retirement fund has an accumulated amount of $55,000. If it has been earning interest at 2.44% compounded monthly for the past 25 years, calculate the size of the equal payments that she deposited at the beginning of every 3 months. $0.00 Round to the nearest cent SUBMIT QUESTION SAVE PROGRESS K 00 40

On January 1, 2018, you deposited $5,500 in a savings account. The account will earn 8 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 7 years? 2. What is the total interest for the 7 years? 3. How much interest revenue did the fund earn in 2018 and in 2019? Show Transcribed Text

You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period. Use this information for the questions below. Use the Saving for Retirement information above to answer this question. If your monthly payments are $147, how much will you have in your retirement fund after 40 years? $_________. Round to the nearest dollar.

Many persons prepare for retirement by making monthly contributions to a savings program. Suppose that $2,500 is set aside each year and invested in a savings account that pays 8% interest per year, compounded continuously. a. Determine the accumulated savings in this account at the end of 29 years. b. In Part (a), suppose that an annuity will be withdrawn from savings that have been accumulated at the EOY 29. The annuity will extend from the EOY 30 to the EOY 36. What is the value of this annuity if the interest rate and compounding frequency in Part (a) do not change? Click the icon to view the interest and annuity table for continuous compounding when i=8% per year. a. The accumulated savings amount at the end of 29 years will be $275384. (Round to the nearest dollar.) b. The value of the annuity will be $41655. (Round to the nearest dollar.)

You estimate you need to supplement your social security payments with monthly withdrawals of $1,400.00 per month from a private investment account during the first 23 years of your retirement.   Assuming you can earn annual returns of 5.2% in your investment account during your retirement years, how much money do you need to have accumulated in your investment account by the day you retire in order to fund the aforementioned monthly withdrawals?

NOTE: Provide a format and show your work (example: N = 6, PV = XXX, I = X%, etc.) 1. Sam decides to start saving for retirement and she starts making $165 monthly contributions today and continue them for four years. What will Sam have at the end of the period if the compounding rate is 11.00 percent APR? (Do not round intermediate calculations and round your final answer to 2 decimal places.) 2.What annual rate of return is earned on a $5,000 investment made in year 4 when it grows to $11,000 by the end of year 10?  (Hint. Construct a timeline.  Do not round intermediate calculations and round your final answer to 2 decimal places.) 3. Given an 8 percent interest rate, compute the present value of payments made in years 0, 1, 2, 3, and 4 of $1,500, $1,600, $1,200, and $1,600, respectively. Compute using NPV.

8. Jane Evans receives payments of $900 at the beginning of each month from a pension fund of $72 500. Interest earned by the fund is 6.3% compounded monthly. a. What is the number of payments Jane will receive? b. What is the size of the final payment?