You estimate that by the time you ret years, you will have accumula a. If the interest rate is 9.5% and you live 15 years after retirement, what annual level of expenditure will those savings support? (Do not round intermediate calculations. Enter your answer in whole dollars rounded to 2 decimal places.) Annual expenditure $ Real annual expenditure 293,809.56 b. Unfortunately, inflation will eat into the value of your retirement income. Assume a 4% inflation rate and work out a spending program for your $2.3 million in retirement savings that will allow you to increase your expenditure in line with inflation. What will be your expenditure amount in real terms for each year of your retirement? (Do not round intermediate calculations. Enter your answer in whole dollars rounded to 2 decimal places.)

Suppose the interest rate is 6.9 APR with monthly compounding. What is the present value of an annuity that pays $110 every three months for five ​years? ​(Note: Be careful not to round any intermediate steps less than six decimal​ places.) Question content area bottom Part 1 The present value of the annuity is ​$    enter your response here.  ​(Round to the nearest​ cent.)

Suppose that you are planning to buy a boat in in 28 years [cell B3] for $100,000 [cell B2], and you deposit into your account the amount of $26,000 CAD [cell B1]. (a) What average annually compounding rate of return (as a percentage, correct to 2 decimals) should you earn so you can accumulate the lump sum needed to achieve your goal [cell B5]? Use the RATE function.(Note: You might have to modify the format of cell B5 so that it shows 2 decimals.) (b) What is the correct formula (using 18 characters or less) that should be placed in cell B5?Note: There are to be NO numbers in the function call (apart from a 0 if appropriate), only cell references, or negative cell references where appropriate. In excel pls.

You are contemplating the purchase of a twenty-four year (variable) annuity that promises cash flows in the following pattern, repeating every four years:e 6. 3 21e 22e 23 24 $1,600- $1,500- $1,400- $1,300 $1,600- $1,500 $1,400 $1,300- Suppose you don't like the fluctuations in the amount of your annual benefits. a. What annual rate of return would you use to convert these (end-of-year) cash flows to equal annual (end-of-year) amounts if you required an APR of 14.4%, compounded monthly? b. Without prejudice to your answer in part a, suppose that your required annual rate of return is 15%, what equal annual (beginning-of-year) payments over the twenty-four year period would be equivalent to the cash flow stream depicted above?