John Jones has just retired after many years with the telephone company. His pension funds have a total value of $180,000 and actuaries state that his life expectancy is fifteen more years. The manager of his pension fund says he can earn a 9% return on John's assets. What will be John's yearly annuity for the next fifteen years?

Una Day is planning to retire in 14 years, at which time she hopes to have accumulated enough money to receive an annuity of $17,000 a year for 19 years of retirement. During her pre-retirement period she expects to earn 8 percent annually, while during retirement she expects to earn 10 percent annually on her money. What annual contributions to this retirement fund are required for Una to achieve her objective and sleep well at night? (Use a Financial calculator to arrive at the answer. Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Annual contribution $ 7,422 x

Mr. White is updating his estate plan for himself and his family. He would like to provide an income of $3000 every month starting 10 1/2 years from now and continuing for the next 20 years. He has started his account with an initial deposit of $10,000 and he knows his life insurance, maturing in 5 years, will have a cash value of $150,000. To make up the difference , Mr. White has decided to make monthly deposits in the account. How much should each deposit be if all interest is computed at 6% compounded monthly?

Siegfried Basset is 65 years of age and has a life expectancy of 13 more years. He wishes to invest $33,000 in an annuity that will make a level payment at the end of each year until his death. If the interest rate is 8.0%, what income can Mr. Basset expect to receive each year? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Annual income

Oscar is looking forward to retirement in a few years when he will have completed 20 years of pensionable service. Oscar's pension plan provides an annual pension benefit of 1.5% of average career earnings for each year of pensionable service. Using information from Oscar's pension statements, he estimates his career average annual earnings will be $50,000 when he retires with 20 years of service. Given these assumptions, calculate Oscar's annual pension benefit that he can expect to receive when he retires. $7,500 $10,000 $15,000 $20,000

Bill is twenty-five years from retirement; in order to retire, Bill needs $500,000 in his savings account when he retires in order to maintain his current standard of living. If Bill has $100,000 in his savings account right now, and the account earns 5% annually (compounded continuously), how much does Bill need to save each year to reach his goal? (Assume that Bill continuously deposits this annual sum into his savings account.)

Donald is updating his estate plan for himself and his family. He would like to provide an income of $3000 every month starting 10.5 years from now and continuing for the next 20 years. He has started his account with an initial deposit of $10,000 and he knows his life insurance, maturing in 5 years, will have a cash value of $150,000. To make up the difference, Donald has decided to make monthly deposits in the account. How much should each deposit be if all interest is computed at 6 percent compounded monthly?

Spencer plans to work for 45 years. He also plans to spend $250,000 per year during his 40 years of retirement. If Spencer gets paid every other week, how much of each paycheck does he need to save, in order to live this lifestyle during retirement? Assume his retirement account earns an APR of 10% compounded monthly and that he will have no money left after 40 years of retirement.

Ann is 55 years old and will retire in 10 years. She is depositing $250,000 into a retirement fund now. The fund will earn 8% per year compounded annually. She wants the retirement payments to start one year after retiring (11 years from now). She plans on having 25 annual payments. How much will be the annual retirement payments she will receive?

Joe's starting salary as a mechanical engineer is around $100,000. Joe is planning to place a total of 8% of his salary each year in the mutual fund. Joe expects a 5% salary increase each year for the next 30 years of employment. If the mutual fund will average 9% annual return over the course of his career, what can Joe expect at retirement?