Magnum plans to retire in 28 years with an amount of $2,500,000. His financial advisor has found a bank that has offered a 5 % annually. What amount will he have to invest today if there is a 12% annual return? How soon can he retire?
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Magnum plans to retire in 28 years with an amount of $2,500,000. His financial advisor has found a bank that has offered a 5 % annually. What amount will he have to invest today if there is a 12% annual return? How soon can he retire?
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- Starling wants to retire with $2, 110,000 in his retirement account exactly 41 years from today. He will make annual deposits at the end of each year to fund his retirement account. If he can earn 9.73 percent per year, how much must he deposit each year? ** PLS EXPLAIN HOW TO SOLVE USING A FINANCIAL CALCULATORJim Smith believes that in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compounded annually, how much will he have to invest today, to reach his retirement goal?Mary Lynn Sirianni believes that she will need $750,000 in an IRA investment to live a comfortable life when she retires in 30 years. She is offered an IRA investment that will require her to invest $3,000 a year for the next 30 years, starting at the end of this year. The investment will earn 13 percent annually. How much will she have at the end of 30 years? Should she make this investment? Show all calculations to help her make a decision.
- 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.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%?*Kaelin believes that in 30 years he will need $80,000 to buy a retirement cottage. Assuming he gets an interest rate of 9% compound annually, how much will he have to invest today to reach his retirement goal? retirement goal - $
- Starling wants to retire with $1,950,000 in his retirement account exactly 36 years from today. He will make annual deposits each year at the end of each year to fund his retirement account. If he can earn 9.09 percent per year, how much does he deposit each year? MUST USE EXCEL FORMULA! NOT ALGEBRAICALLY!Jabari is planning for his retirement in 5 years’ time. He plans to deposit $200,000immediately into an investment plan that promises 11% annually. He will deposit$30,000 and the end of each of the next five years.i. What will be the value of the investment when Jabari retires in 5 years?Michael Jones plans to save $5,928 every year for the next eight years, starting today. At the end of eight years, Michael will turn 30 years old and plans to use his savings toward the down payment on a house. If his investment in a mutual fund will earn him 11 percent annually, how much will he have saved in eight years when he buys his house? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g. 15.25.) Future value of investment $
- Katrina is planning to make an additional investment at the end of each year for his retirement in 20 years. Katrina plans to invest $5,000 each year for the first 5 years, $8,000 each year for the next 5 years, and $ 12,000 each year for the remaining 10 years. If the rate of return of 11 percent can be earned in these investments, how much money will Katrina have at the end of 20 years? (Answer must have step by step explainations.)Enrique already knows that he will have $300,000 when he retires. If he sets up a payout annuity for 15 years in an account paying 4.55% interest, how much could the annuity provide each quarter?Amy Johnson wants to retire on $75,000 per year for her life expectancy of 20 years after she retires. She estimates that she will be able to earn an interest rate of 10.1%, compounded annually, throughout her lifetime. To reach her retirement goal, Amy will make annual contributions to her account for the next 30 years. One year after making her last deposit, she will receive her first retirement check. How large must her yearly contribution be? (Solve with Presents Values with Annuities or Loans and Amortization)
