You have just made your first $5,000 contribution to your retirement account. Assume you earn a return of 10 percent per year and make no additional contributions. a. What will your account be worth when you retire in 45 years? b. What if you wait 10 years before contributing? c. After calculating parts a and b, what is the lesson learned?

Suppose, again, that you want to retire at age 65 and to cover 25 years of regular, annual, $60,000 expenses, beginning on your 66th birthday, given 7% rates of return on your savings. a) What would be the present value of this amount on your 24th birthday? B) If you wanted to put an equal amount into your retirement account each year, beginning on your 25th birthday, and ending with the final payment on your 65th birthday, how much would you need to set aside each year?

You want to be able to withdraw $35,000 from your account each year for 20 years after you retire. You expect to retire in 15 years. If your account earns 10% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?

You begin saving for your retirement by investing $500, matched by your employer with $300 at the end of each month in your 401K account (or IRA). Assume your investment returns 10% per year. • How much will you have in 40 years when you retire?

You are saving for retirement. To live​ comfortably, you decide you will need to save $3,000,000 by the time you are 65. Today is your 29th ​birthday, and you​ decide, starting today and continuing on every birthday up to and including your 65th ​birthday, that you will put the same amount into a savings account. If the interest rate is 10%​, how much must you set aside each year to make sure that you will have ​$3,000,000 in the account on your 65th ​birthday?

You are saving for retirement. To live​ comfortably, you decide you will need to save ​$2,500,000 by the time you are 65. Today is your 32nd ​birthday, and you​ decide, starting today and continuing on every birthday up to and including your 65th ​birthday, that you will put the same amount into a savings account. If the interest rate is 7%​, how much must you set aside each year to make sure that you will have ​$ 2,500,000 in the account on your 65th ​birthday? The amount to deposit each year must be $

you have decided to begin saving for retirement. you will deposit $800 in a bank account today. than you will deposit an additional $800 every following year for 29 years (an annuity due). if your bank pays 3.73% interest, how much will you accumulate in the account at the end of 30 years

You are saving for retirement. To live comfortably, you decide you will need to save $2 million by the time you are 65. Today is your 26th birthday, and you decide, starting today and continuing on every birthday up to and including your 65th birthday, that you will put the same amount into a savings account. If the interest rate is 4%, how much must you set aside each year to make sure that you will have $2 million in the account on your 65th birthday?

You are saving for retirement. To live comfortably, you decide you will need to save $4 million by the time you are 65. Today is your 34th birthday, and you decide, starting today and continuing on every birthday up to and including your 65th birthday, that you will put the same amount into a savings account. If the interest rate is 3%, how much must you set aside each year to make sure that you will have $4 million in the account on your 65th birthday? The amount to deposit each year is $(Round to the nearest dollar.)

You would like to have enough money saved to receive a $90,000 per year perpetuity after retirement. The annual interest rate is 8 percent. Required: How much would you need to have saved in your retirement fund to achieve this goal? a) Assume that the perpetuity payments start on the day of your retirement. b) Assume that the perpetuity payments start one year from the date of your retirement.