Second Best Insurance company is advertising a new product to retirees looking to invest their 401(K) retirement accumulations. The idea is this: give us, Second Best, the lump sum of $720 today and we'll then give you, the retiree, an annuity of $230 to be received at the end of each year, beginning one year from today, for 6 consecutive years. From the standpoint of the retiree, calculate the NPV of this product if the required rate of return is 2%. $ Place your answer in dollars and cents. Indicate any negative amounts (if applicable) with a minus sign in front of the number. Do not include a dollar sign in your answer. Work all calculations using at least 4 decimal places of accuracy.

You are considering a retirement savings.  For this you will need to determine following information.  Average starting salary of you major. $73,000 Your annual retirement savings amount. 8% of annual income Your age when you start working. 23 years old Your age when you plan to retire.  58 Retirement account investment vehicle. This will determine the growth rate. ? idk what this is... When I retire I want to open a ice cream shop (this might help answer the question) Create an excel table with your age column, annual contribution, annual account balance.   Re-do the calculation with monthly contribution and find your account balance at your retirement.  Submit excel table with all your information.

Suppose that you start working for a company at age 25. You are offered two rather unlikely, but quite enticing, retirement plans from which you are allowed to choose one. [Round all answers to the nearest dollar.] Retirement plan 1: When you retire, you will receive $16,000 for each year of service. Retirement plan 2: When you start work, the company deposits $2500 into a savings account that is guaranteed to pay a yearly rate of 16%. When you retire, the account will be closed and the balance given to you. A. Determine the amount you would receive under plan 1, if you retired at age 55. $ B. Determine the amount you would receive under plan 1, if you retired at age 65. C. Determine the amount you would receive under plan 2, if you retired at age 55. D. Determine the amount you would receive under plan 2, if you retired at age 65.

Researching retirement savings online, you found an article from NewRetirement.com with recommendations from financial guru, Dave Ramsey and others. Dave Ramsey recommends investing 15% of every paycheck into a Roth IRA and pre-tax retirement accounts. If your household earns $75,000 annually and you adhere to Ramsey's recommendation, how much will your retirement account be worth if your 15% ordinary annuity earns 9% annually for 30 years? (Use Table 13.1) Note: Do not round intermediate calculations. Round your answer to the nearest dollar. Answer is complete but not entirely correct. $ 1,533,460 Worth of retirement account,