She arranged to receive $45,000 the first year. Because of inflation each year she will get $580 more than she received the previous year. A. What income will she receive in her 11th year of retirement? B. How much money will she have received in total during her first 11 years of retirement
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Katie recently retired and met with her financial planner. She arranged to receive $45,000 the first year. Because of inflation each year she will get $580 more than she received the previous year.
A. What income will she receive in her 11th year of retirement?
B. How much money will she have received in total during her first 11 years of retirement?
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- After retiring, Rachael wants to be able to withdraw $30,000.00 every year from her account for 29 years. Her account earns 7% interest compounded annually. How much does Rachael need in her account when she retires? Rachael needs to have in her account when she retires. am I solving for future value? sorry lost. not sure if I'm trying to find future or presentKatie recently retired and met with her financial planner. She arranged to receive $40,000 the first year. Because of inflation, each year she will get $210 more than she received the previous year. a) What income will she receive in her eighth year of retirement? b) How much money will she have received in total during her first 8 years of retirement? a) Her income will be $Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?
- Amy is now (year 0) 25 years old and planning for her retirement at age 65. She would like to have $2 million for her retirement by then. She will make her first deposit in her retirement savings account next year ( year 1) and continue until her last deposit at age 65 ( year 40). All deposits are made on the last day of the year. Amy expects her income to increase at an annual rate of 3.03% (nominal) and thus will increase her savings at the same rate. Her savings will earn an annual return of 6.06% (nominal). Use the above information to answer questions (A)-(C). What should be Amy's first deposit to achieve her goal for the retirement savings account?Destiny invests $20,000 today into a retirement account. She expects to earn 7 percent, compounded annually, on her money for the next 30 years. After that, she wants to be more conservative, so only expects to earn 4 percent, compounded annually. How much money will she have in her account when she retires 40 years from now, assuming this is the only deposit he makes into the account? O $225,359.94 O $152.245.10 O $377,605.04 $299,489.16 O None of the answers is correctAmy is now (year 0) 25 years old and planning for her retirement at age 65. She would like to have $2 million for her retirement by then. She will make her first deposit in her retirement savings account next year (year 1) and continue until her last deposit at age 65 (year 40). All deposits are made on the last day of the year. Amy expects her income to increase at an annual rate of 2.82% (nominal) and thus will increase her savings at the same rate. Her savings will earn an annual return of 5.45% (nominal). A)What should be Amy's first deposit to achieve her goal for the retirement savings account? Ans 9902.502787 B)Suppose that inflation is 1.71% per year. What would be the real value of Amy's retirement savings account balance when she retires (year 40)?Ans 1015041.55707 C)Suppose that inflation is 2.82% per year (rather than 1.71% as noted above), and there is no change in Amy's income growth and the return on her savings. What would Amy's first deposit (in nominal terms)…
- Amy is now (year 0) 25 years old and planning for her retirement at age 65. She would like to have $2 million for her retirement by then. She will make her first deposit in her retirement savings account next year (year 1) and continue until her last deposit at age 65 (year 40). All deposits are made on the last day of the year. Amy expects her income to increase at an annual rate of 3.13% (nominal) and thus will increase her savings at the same rate. Her savings will earn an annual return of 6.93% (nominal). Use the above information to answer questions (A) – (C). Amy's first deposit to achieve her goal for the retirement savings account? answer : 6812.038768 Suppose that inflation is 1.67% per year. a)What would be the real value of Amy's retirement savings account balance when she retires (year 40)?b)Suppose that inflation is 3.13% per year (rather than 1.67% as noted above), and there is no change in Amy's income growth and the return on her savings. What would Amy's first…After retiring, Valeria wants to be able to withdraw $36,500.00 every year from her account for 27 years. Her account earns 6% interest compounded annually.How much does Valeria need in her account when she retires? Valeria needs$_________ to have in her account when she retires.After retiring, Amina wants to be able to withdraw $30,500.00 every year from her account for 25 years. Her account earns 9% interest compounded annually.How much does Amina need in her account when she retires? Amina needs$________ in her account when she retires. How much total money will Amina pull out of her account? In total, Amina will pull out $________ from her account. How much of that money is interest? The amount of money that is interest is$________ .
- Carla Lopez deposits $2,500 a year into her retirement account. If these funds have an average earnings of 5 percent over the 40 hears until her retirement, what will be the value of her retirement account?Ms. Lee is thinking about her retirement fund and she still have another 15 years to reach her retirement time. She deposits RM4,800 each year in the investment that give 6% until her retirement day. Kindly explain to Ms. Lee on the reasons why she needs to prepare and organize her financial record.Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start saving $A per year for 40 years. Starting on her 62nd birthday, Lisa plans onwithdrawing $10,000 and will continue these annual withdrawals until the account is exhausted on her 85th birthday. If Lisa’s bank account pays 3% per year, what annual amount of $A will Lisa need to invest in her bank account to achieve her retirement goal?
