How much do you have to save each year from your 51st to your 60th birthday in order to achieve your retirement goal if you can earn 6.5% on your savings?

. Problem 5.03 (Finding the Required Interest Rate) еВook Your parents will retire in 16 years. They currently have $400,000 saved, and they think they will need $2,100,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

Mark Smith wants to save money to meet two objectives. First, he would like to be able to retire 20 years from now and have a retirement income of $30000 per year for at least 30 years. Second, he would like to purchase a fishing boat 5 years from now at an estimated cost of $20000. He can afford to save only $6000 per year for the first 10 years. Mark expects to earn 8% per year on average from investments over the next 50 years. What must his minimum annual saving be from years 11 through 20 to meet his objectives?

3. Your parents will retire in 27 years. They currently have $400,000 saved, and they think they will need $1,850,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places. 4. If you deposit money today in an account that pays 12.5% annual interest, how long will it take to double your money? Round your answer to two decimal places.=             years 5. You have $10,043.17 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $230,000. You expect to earn 13% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.=         years 6. What's the future value of a 9%, 5-year ordinary annuity that pays $700 each year? If this was an annuity due, what would its future value be? Do not round intermediate calculations. Round your answers to the…