ou plan to retire in 30 years and plan on saving $15,000 annually, starting next year, for the next 30 years. You expect to need $120,000 about 18 years from now for college tuition for your recently born daughter which must be paid out of these savings. You expect to live 35 years during retirement (the first retirement payment will be 31 years from today) If interest rate is 5%, but you want to keep the same retirement quality of life as if the interest rate is 8.15%. How much extra money do you need to save annuall

(Future value of an ordinary annuity) You are graduating from college at the end of this semester and after reading the The Business of Life box in thischapter, you have decided to invest $4,700 at the end of each year into a Roth IRA for the next 40 years. If you earn 8 percent compounded annually on your investment, how much will you have when you retire in 40 years? How much will you have if you wait 10 years before beginning to save and only make 30 payments into your retirement account?

You are planning for your retirement. You expect to earn a monthly salary of $7,000 starting on the 1st month after you retire, which will be able to provide comfortably for your daily expenses through your retirement years. You are currently 33 and plan on retiring when you become 64, and you expect to live 20 years after retirement. In addition to providing a salary for your retirement you would like to buy a house by the time you reach 55. The house you dream of would cost you $1,650,000. Now you have a down payment of $50,000 (ignore closing costs). In addition you would like to offer yourself a retirement gift, a Mercedes that you would buy brand new to serve you through your retirement years. The car is expected to cost you $76,000. It will be purchased when you reach 64 years of age. Assume you can earn 12% compounded monthly from now until you retire, and the rate will change to 6% monthly compounding after that. And how much do you need to save in TOTAL per month after you buy…

You want to begin saving for your retirement. You plan to contribute $12,000 to the account at the end of this year.  You anticipate you will be able to increase your annual contributions by 3% each year for the next 45 years.  If your expected annual return is 8%, how much do you expect to have in your retirement account when you retire in 45 years? If current interest rate is 28%, a Treasury Bill with 91 days to maturity, and a face value of GH¢ 50,000 should have a market value of? Assuming you bought a 182-day Treasury Bill with a face value GH¢20,000.00 and held it for 45 days. If you want to sell it and interest rate is currently at 25%, at what price will you sell it? A Treasurer buys a 6-month CD issued by a top-class bank with a tenor of 180 days at a yield of 16%. The face value at issue is GH¢10m. In 90-days time the buyer sells the CD when the 3-month secondary market for CDs issued in the names of top-class banks is 40/14.50. The buyer has held the CD for 90days, but now…

I need help solving the probelm below in excel   8.Your client wants to have $2 million in her retirement account in 20 years. How much should the client deposit in the account at the end of each year to achieve her goal if we assume an annual return of 8%?