Joanne is retiring this year. When she started saving 40 years ago, she planned to invest $1,000 per year in an account that promised her 5% annual rate of return. She diligently saved $1,000 every year, except for a five-year period that started fifteen years ago and ended ten years ago. How much does Joanne have in her account today?

Q: amy just retired with savings of $8 million. If she expects to live for 43 years and to earn 9% a…

A: Present Value of Annuity Due refers to a concept which determines the value of cash flows at present…

Q: Your sister just deposited $6,500 into an investment account. She believes that she will earn an…

A: Present Value (PV) calculates the current worth of a future sum of money or a series of future cash…

Q: Daniel Jackson is 30 years and wants to retire when he is 65. So far he has saved (1) $6,730 in an…

A: (1) Balance in IRA account=$6,730 Interest rate in IRA account=0.083   (2) Balance in money market…

Q: is expected to be received in 5 years and her last annual payment is expected in 10 years. She can…

A: Annual payment=$49900Interest rate=12.84%Period= 5 years

Q: Carolyn is helping to save for her granddaughter’s college fund. It will probably take 18 years…

A: Future value required (FV) = $150,000 Interest rate (r) = 6% Number of annual payments (n) = 18…

Q: Twenty years ahead of her retirement, Kelly opened a savings account that earns 5% interest rate…

A: The future value of the annuity is the future worth of a cash flow series at a certain rate of…

Q: Mia plans to save $9,700 a year for the next 27 years to help her in retirement starting at the end…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Despite his relative youth, Samuel Hunter has started planning for his retirement. At present, he…

A: Given:  Annual investment = $3,000  Period, n = 40 years  Interest rate, r = 4%    a.  The…

Q: Molly Lincoln, a 25-year-old personal loan officer at First National Bank, understands the…

A: 1. Accumulate amount is computed below: The formula sheet used for computing the above table as…

Q: Eugene began to save for his retirement at age 26, and for 10 years he put $ 425 per month into an…

A: Here we have to use the concept of future value to determine the retirement amount.  The amount…

Q: fter retiring, Sofía wants to be able to withdraw $8,500.00 every quarter from her account for 33…

A: There is need of proper planning for retirement and if you do that properly than you can achieve…

Q: After retiring, Gabriella wants to be able to withdraw $7,000.00 every quarter from her account for…

A: Future Value: It is  the worth of a resource at a particular date.  It estimates the ostensible…

Q: Michelle is 25 years old and has decided to start a retirement program. Beginning in exactly one…

A: Time period is 30 years Annual savings are $15,000  Interest rate is 4% To Find: Amount saved for…

Q: Sally is 25 years old and has decided to start a retirement program. Beginning in exactly one year,…

A: We need to use future value of ordinary annuity formula to calculate total saving value at the time…

Q: After retiring, Rosetta wants to be able to withdraw $4,000.00 every month from her account for 26…

A: Amount to withdraw per month "PMT" is $4,000 Time period is 26 years Interest rate is 6% Compounded…

Q: Joe Doe is currently 65 years of age. He is currently drawing $20,000 a yearout of his IRA. He…

A: Person JD needs to have some amount of money in his account today to draw $20,000 at the beginning…

Q: Jill invested $1,000 each year into an account that earns 10% interest compounded annually to have…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Ms. Ieda Silva plans to retire in 28 years and expects to live for 25 years after retirement. She is…

A: we can use discounting techniques to value the monthly deposits.

Q: This is a classic retirement problem. A friend is celebrating her birthday and wants to start saving…

A: The annuity formula can be used to calculate present value of all withdrawals at the time of…

Q: Bobbi opens an IRA account in which she deposits $3,000 per year until she retires in 50 years. If…

A: The accumulated amount can be calculated with the help of future value of annuity function

Q: Your sister just deposited $9,000 into an investment account. She believes that she will earn an…

A: The concept of time value of money will be used here. Since future value has to be computed we will…

Q: As soon as she graduated from college, Kay began planning for her retirement. Her plans were to…

A: Retirement fund refers to the portion of the income which is saved by an individual for the purpose…

Q: How much does Jeanette need in her account when she retires?

A: Present Value: It is computed by discounting the future annuity cash payments by an appropriate…

Q: our friend has just celebrated her 30th birthday and accepted her first job. She must now decide how…

A: Your friend is undertaking her retirement planning. She has crystallized the annuity required in her…

Q: A 40-year-old woman decides to put funds into a retirement plan. She can save $1,000 a year and earn…

A: We need to calculate the persent value of annuity  by using this formula.    PV of annuity =CF*…

Q: Laura has decided that she wants to build enough retirement wealth that, if invested at 6.50% per…

A: Amount needed at retirementMonthly amount needed$3,500Years in retirement25Annual rate6.5%Amount…

Q: Julie deposited some money in a savings account this morning. Her money will earn 5 percent…

A: Computation:

Q: Rhonda has saved $1,200,000 in an account. Her goal is to have 1,500,000 saved up to use as down…

A: given, pv = $1200,000 n=5 r=2.5%

Q: After retiring, Valeria wants to be able to withdraw $36,500.00 every year from her account for 27…

A: Amount to withdraw every year "PMT"  is $36,500 Time period "N" is 27 years Interest rate "I/Y" is…

Q: what will be the balance of her account after 30 more years assuming the same 8% interest

A: PRESENT VALUE:The concept of present value (PV) is a fundamental principle in finance, used to…

Q: Your sister just deposited $11,500 into an investment account. She believes that she will earn an…

A: Value of sister's investment account in 7 years is calculated using following equation Future value…

Q: Two years ago my daughter was born. On the day she was born I put $4000 into an account for her. The…

A: Future worth is the worth of current amount at some future specified date considering compounding…

Q: Cecilia is 28 years old today and wants to retire at age 65. She plans to put $5,000 into an account…

A: Annuity is a series of equal cash payments over a period.The current age is 28 and investment is…

Q: our sister just deposited $5,000 Into an investment account. She belleves that she will earn an…

A: The concept of time value of money will be used here. Since future value has to be computed we will…

Q: She arranged to receive $45,000 the first year. Because of inflation each year she will get $580…

A: A regular payment received by retired people is called pension. Inflation is the increase in general…

Q: Arvin Marlacher is 25 years old today. Marlacher wants to be prepared for his retirement, and so is…

A: The question is based on the concept of Financial Management.

Q: Amina needs$________ in her account when she retires. How much total money will Amina pull out of…

A: Present Value of Annuity: It represents the present worth of the future stream of annuity cash…

Q: Tariq Ahmed is 25 years old and is saving for her retirement. He is planning on making 40…

A: The sum of the future value of periodic payments made at equal intervals of time at a given rate of…

Q: Today is Janet's 23rd birthday.  Starting today, Janet plans to begin saving for her retirement.…

A: Future value is the estimation of future cash value which is likely to be received in the future…

Q: A woman is planning for retirement in 30 years and decides she can deposit $6,000 each year on…

A: An Annuity Due is a stream of regular periodic payments made at a beginning of period for a…

Q: Suzy wants to retire in 30 years. She expects to live 25 years after retirement. She prepares a…

A: There is need of planning for retirement and that must be based on time value of money and based on…

Q: Ms. Lee is thinking about her retirement fund and she still have another 15 years to reach her…

A: Time to retirement = N = 15 years Deposit each year = 4800 Return = 6%

Q: Your great-uncle Claude is 82 years old. Over the years, he has accumulated savings of $180,000. He…

A: The objective of this question is to find out how much Uncle Claude can withdraw each year from his…