Create an excel table with your age column, annual contribution, annual account balance. Re-do the calculation with monthly contribution and find your account balance at your retirement. Submit excel table with all your information.
Create an excel table with your age column, annual contribution, annual account balance. Re-do the calculation with monthly contribution and find your account balance at your retirement. Submit excel table with all your information.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
You are considering a retirement savings. For this you will need to determine following information.
Average starting salary of you major. $73,000
Your annual retirement savings amount. 8% of annual income
Your age when you start working. 23 years old
Your age when you plan to retire. 58
Retirement account investment vehicle. This will determine the growth rate. ? idk what this is... When I retire I want to open a ice cream shop (this might help answer the question)
Create an excel table with your age column, annual contribution, annual account balance.
Re-do the calculation with monthly contribution and find your account balance at your retirement.
Submit excel table with all your information.
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