Melia wanted to retire within the next 25 years. After his retirement, he would like to withdraw RM50,000 every year for the next 15 years until he passed away. Also, by the time of his death, he would like to bequeath RM2 Million to his grandchildren. Assuming the interest rate from now until his retirement is 6% and after retirement until he pass away is 8%. Calculate how much he needs to save beginning of each year until his retirement so that he is able to meet his objective of withdrawing after retirement and bequeathing when he passed away? (7 marks)

Tõnu has two financial goals. His first wish is to retire 40 years from now and receive a pension of 10,000 euros every month for 20 years. Secondly, his big desire is to leave an inheritance of 1,000,000 euros to his daughter Karin after his death, which will occur exactly 20years after retiring. It is known that for the first 10 years starting from today, Tõnu can save a maximum of 1,200 euros each month. Assume, that the interest rate is 6% per year (or 0.5% per month), and it does not change over the entire observed period. Question: Given all the previous information, try to find out how much Tõnu needs to save additionally each month after the first 10 years have passed?

Your grandfather is retiring at the end of next year. He would like to ensure that his heirs receive payments of $11,600 a year forever, starting when he retires. If he can earn 12.0 percent annually, how much does your grandfather need to invest to produce the desired cash flow? (Round answer to 2 decimal places e.g. 15.25.)

C. Fred is planning on retiring this year. How much must his retirement account have in it this year in order to make a $40,000 payment each year for the next 30 years to meet his needs assuming that the appropriate interest rate is 8%?*

Mr Poirot has come to ask you for advice on his retirement planning. He is 45 years old, and has EUR 100,000 in his savings account. He also expects to receive an additional EUR 80,000, after taxes, in ten years, when he sells his house. He plans to work for 20 years more, and expects to save EUR 10,000 a year for the next 10 years, and EUR 15,000 a year for the following 10 years. a)Assuming that he earns 5% on both his current and future savings, how much should he expect to have in savings, when he retires in 20 years?  b)If Mr. Poirot plans to withdraw the money in equal annual installments over the 15 years following his retirement, how much can each withdrawal be? (Assume that the interest rate continues to be 5% after the twentieth year.) c)How would your answer to question (a) change if interest rates are expected to rise to 6% after ten years

Linus would like to start saving for his retirement. Starting April 1, 1950, he will make annual deposits into an account, with the last deposit coming on April 1, 1990. Linus assumes he will get pay raises, and plans to increase his deposits by 3.1 percent each year. If he would like to be able to withdraw 44000 dollars per year forever, with the first withdrawal on April 1, 1993, how much will Linus's first deposit need to be? (Assume an interest rate of 4.1 percent effective throughout.)

Gabriel plans to retire when he has $1,500,000 in his bank account, and he does not want to work more than 30 years. If this account has a APR of 5.4%, determine the minimum monthly annuity payment he would need to make. Round your answer to the nearest dollar.

molly would like to spend $65,000 (inflation adjusted, in today's dollars) each year in retirement for 25 years (beginning of year). she believes she can earn a 7.5% rate of return pre-retirement, 6% during retirement, and inflation will be 3.5%. she has 40 years until he plans on retiring and she's already saved $10,000 towards her goal. how much is $65k worth at the time of retirement?

Today is Stanley’s 55th birthday. He plans to retire on his 65th and wants to put aside" the same sum of money every birthday (starting now) up to and including his 65th birthday. He then wants to be able to withdraw $10,000 every birthday (starting with his 66th) up to and including his 85th birthday. He believes that an interest rate of 10% per year is reasonable. How much does he need to put aside each birthday?

You want to leave a small amount for two of your children, Kira, aged 68 and Fred, aged 63. Kira will retire at 70 (t = 2), as will Fred (t = 7). You want each to have $500,000 per year for the rest of their lives, payable at the beginning of each year. You expect each to live to 95. The annual interest rate is expected to be 9%. How much money would you need to deposit today in an account to fund these kids' retirement?