You have $15,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. How many dollars in withdrawals per month would reduce this nest egg to zero in 20 years? (Use Exhibit 18-16.)
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- Required information Problem 10.039 - Retirement account calculations In wisely planning for your retirement, you invest $35,000 per year for 20 years into a 401K tax-deferred account. Assume you make a real retum of 10% per year when the inflation rate averages 3.4% per year. Problem 10.039.a Future dollars in retirement account How many future dollars will you have in the account immediately after your last deposit? You will have $ future dollars in your account immediately after your last deposit.Question 11 You deposit $5000 each year into your retirement account, starting in one year. If these funds earn an average of 5% per year over the 27 years until your retirement, what will be the value of your retirement account upon retirement? Your Answer: AnswerA Question 11 You deposit $5000 each year into your retirement account, starting in one year. If these funds earn an average of 5% per year over the 27 years until your retirement, what will be the value of your retirement account upon retirement? Your Answer: Answer Hide hint for Question 11 NOTICE THAT THE ONLINE FINANCIAL CALCULATOR HAS THE BUTTON FOR PAYMENTS MADE AT THE END OF THE PERIOD. THIS IS THE DEFAULT OF THE CALCULATOR, AND THE WORDS 'STARTING IN ONE YEAR' ARE JUST CONFIRMATION THAT YOU WANT THAT END OF THE PERIOD BUTTON SELECTED.
- Question 33 Growing Annuity Problem: Set Calculator to BEGIN for this problem.i.e., we are assuming Payments are at beginning of year (Annuity Due). Assume you save $7500 at the beginning of each year AND you increase this amount by 3.5% each year. How much will you have in 40 years if your expected return = 8% per year. [NOTE: I have %3D rounded the answer to whole dollars.) O $3.245,998 $3,197,747 $2,503,625 $1,228,358 O $802,622 Question 34 Growing Annuity Problem: Set Calculator to BEGIN for this problem.ie, we are assuming Payments are at beginning of year (Annuity Due). Assume you have just retired and you currently have $2,500,000 in ch vear forQUESTION 6 You would like to have $49215 in 10 years. If the rate is 9.51%, how much do you have to invest each month?QUESTION 7 John plans to make semi-annual savings contributions of $17,694.58. His first semi-annual savings contribution is expected later today. John expects to earn 7.41 percent per year. How many semi-annual savings contributions of $17,694.58 does John need to make in order to have $417,000.00? 16.79 payments O 14.13 payments O 17.25 payments O 13.51 payments O the answer cannot be obtained based on the given information
- Problem 1-15 Calculating the Future Value of an Annuity [LO 4) What amount would you have at age 65 if you contributed $260 a month starting today at age 25 and you can earn 6 percent APR compounded monthly on your investment? If you were to delay this savings for 10 years when you're 35, how much would you then have at 65? (Do not round intermediate calculations. Round your final answer to 2 decimal places. Omit the "$" sign in your response.) Annual paynent at the end of 65 years, startine at 25 years Annual payment at the end of 65 years, starting at 35 yearsquestion 10 Assume that you contribute $230 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $460 per month for another 30 years. Given a 7.2 percent interest rate, what is the value of your retirement plan after the 50 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) FUTURE VALUE OF MULTIPLE ANNUITIES?QUESTION 11 Assume that you contribute $160 per month to a retirement plan for 25 years. Then you are able to increase the contribution to $360 per month for the next 25 years. Given a 7.2 percent interest rate, what is the value of your retirement plan after the 50 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value of multiple annuities?
- Question 2B It is given that you need to save aside $320,000 for your retirement plan 10 years from now. You have a saving of $120,000 and is consider to put exactly an equal amount of money into Sustainable Investment Fund at the end of each month for 10 years to get 200 000 you still short of now. The fund is offering a rate of return 10.5 % per year, compounding monthly. Required: Calculate the monthly payment you need to contribute into Sustainable Investment Fund to get $200,000 after 10 years? If you change to contribute $1,000/month to that fund at the beginning of each month, how much money you would have in your account after 10 years? You are offered an investment that will pay $24 000 for the first year and then it will increase 4% each year. What is present value of this investment if the rate of return 13.5% applies?Question 21 Suppose you want to buy a $147,000 home. You found a bank that offers a 30-year loan at 3.3% APR. What will be your monthly payment? (Round to the nearest cent.) How much would you end up paying the bank for the home after 30 years? (Round to the nearest cent.) $ Suppose you wanted to reduce the time of your loan to 25 years. What would be your new monthly payment? (Round to the nearest cent.) $ How much would you end up paying the bank for the home after 25 years? (Round to the nearest cent.) $ How much did you save by reducing the time of your mortgage loan? (Round to the nearest cent.) $Question 2B You need to save aside $320,000 for your retirement plan 10 years from now. You have a saving of $120,000 and is consider to put exactly an equal amount of money into Sustainable Investment Fund at the end of each month for 10 years to get 200 000 you still short of now. The fund is offering a rate of return 10.5 % per year, compounding monthly. Required: Calculate the monthly payment you need to contribute into Sustainable Investment Fund to get $200,000 after 10 years? If you change to contribute $1,000/month to that fund at the beginning of each month, how much money you would have in your account after 10 years? You are offered an investment that will pay $24 000 for the first year and then it will increase 4% each year. What is present value of this investment if the rate of return 13.5% applies?