The Flemings will need $80,000 annually for 20 years during their retirement. How much will they have at retirement if they can earn a 4% rate of interest on their investment?
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- The Flemings will need $80,000 annually for 20 years during their retirement. How much will they have at retirement if they can earn a 4% rate of interest on their investment?How many years would it take save an adequate amount for retirement if he deposits $2,100 per month (at the end of each month) into an account that pays 11 percent per year if he wishes to have a total of $1,000,000 at retirement? Include the following variables to help solve the problem: m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FVHenry would like to have a retirement income of $3,000O per month (month-end payments). How much must he have in his retirement fund on the day that he retires if he plans to live for 30 years? Assume that the account will earn j12=3.6%. Your Answer: Answer
- Suppose DAVID wants to have P10,000,000 to retire 45 years from now, how much would she have to invest with an annual rate of 15%?A. P17,844B. P18,561C. D.How much must you deposit each year into your retirement account starting now and continuing through year 10 if you want to be able to withdraw $80,000 per year forever, beginning 31 years from now? Assume the account earns interest at 15% per year. What is the answer, and how can I get it?Carlo Aldric wants to have P40,000 per year for 15 years during his retirement. What amount would you need to have invested at retirement to reach this goal if you could invest your money and receive a 5 percent return?
- How much money would you need to have at retirement so that you can withdraw $50,000 a year for 20 years from an account earning 7% compounded annually? How much total money would you pull out of this account?7. You have just made your first P2,000 contribution to your individual retirement account. Assuming you earn a 10 percent rate of return and make no additional contributions, what will your account be worth when you retire in 45 years? What if you wait 10 years before contributing? 8. You are scheduled to receive P30,000 in two years. When you receive it, you will invest it for six more years at 6.5. percent per year. How much will you have in eight years? 9. The first comic book featuring Superman was sold in 1938. In 2003, the estimated price for this comic book in good condition was about P350,000. This represented a return of 26.09 percent per year. For this to be true, what must the comic book have sold for when new? 10. You are trying to save to buy a new P150,000 car. You have P40,000 today that can be invested at your bank. The bank pays 5.5. percent annual interest on its accounts. How long will it be before you have enough to buy the car?Suppose you have a 1-year old son and you want to provide R75 000 in 17 years towards hiscollege education. You currently have R5000 to invest. What interest rate must you earn to havethe R75 000 when you need it?
- How long would it take for Nico to save an adequate amount for retirement if he deposits R40,000 per year into an account beginning one year from today that pays 12 percent per year if he wishes to have a total of R1,000,000 at retirement?c. The Flemings will need $160,000 annually for 20 years during retirement. How much will they need at retirement if they can earn a 4% rate of return? d. The Hamptons want to have $3,500,000 for their retirement in 30 years. How much should they save annually if they think they can earn 7% on their investments?After retirement, you expect to live for 25 years. You would like to have $91,000 in income each year. How much should you have saved in your retirement account to receive this income if the annual interest rate is 9 percent per year? (Assume that the payments start one year after your retirement) Multiple Choice $1,472.33173 $893,85474 $2,275,000.00 $101,089.74