10 SIT The My th 1 o Sean Birns #4 4D - FV 32,775.67 Full 1297. 1272 Here 573,415.4 1 - . SUSO :) B92 023.57 573,496.44 - . Exam 2 Tued FIN 302 Fall 2021.docx Retirement Problem To prepare for your retirement 30 years from now, you plan to save the following amounts each month over the next year The interest rate is ON APR The appropriate PVFAI Amount PV at the end of the decade do Year 24.06 - FV 32,175.87 FV (96) 297, 123.92 $200 5900 11-20 21-10 51.200 573,495.44 =rate (1) in the fathe end of each decade in the table above (2) Aner 30 years you are ready to retire you move your savings to safer investments, which means you expect to earn only APR per year during your retirement You expect to live for 25 more years. How much could you withdraw every month and not run out of money for 25 years? The como PVFA for this calculations 03 57399594 670372s) = 15.92 36,023.58 withdraw this retirement ca) Suppose it is the end of year 20 and you are considering voor financial plan as shown above. You still expect to retire 10 years from now, but you think that you will need a retirement income of $4,000 per month for 25 years after you retire. To meet that goal, you will have to adjust your savings in the last ten years. Fill the following table: Flow much do you need to have in the bank when you retire to be able to withdraw the desired amount per month or 25 years 573,496.44 At the end of year 20, you have a lump sum amount the bank How the For the end the decade the forsale). How much will that he worth in 10 years! C How much money will you have to rate from your last 10 years of savings to reach your goal The them. Row of the able the moninow D How much do you have one per month over the last ten years before you retire to generate the extra savings amount Host: The shoot the now above dveh the approprian FTFO Practice Exam in Class Spring 2009.000 Retirement Problem To prepare for your retirement 30 years trom now, you plan to set the blowing me the next 30s The interest SAPR The appropriate FFAIS Years Amon PV the end of the decade 1-10 $200 11-20 5900 21-30 51.200 (1) Fill in the FV at the end of each decade in the table above (2) Aher 30 years, you are ready to retire. You move your savings to saler investments which means you expect to an only IN APR per year during your retirement You expect to live for 25 more years. How much could you withdraw met dont of money for 25 years? The correct IPVFA for this calculation Withdraw per month in retirement (3)Suppose it is the end of year 20 and you are condering your financial plansshown bove. You wiped to retre 10 years from now, but you think that you will need a retirement income of $4.000 per month for 25 years after you retire. To meet that goal. you will have to adjust your savings in the last ten yean. Fill in the following table: How much do you need to have in the bank when you retire sa be able to withdraw the desiraamatper month for 25 years At the end of year 20 ye have alumpsummuti the bank lorth Fardee decaka for alle. How much will that be worth in 10 years How much money will you have to generate from you Last 10 years of saving to reach your goal? line The Row of table the anowi Now D How much do you hane to save pa mother the last ten years before you retire to generate the extrasavings amount Wint. This the more the above divided by the write FIED 10 SIT The My th 1 o Sean Birns #4 4D - FV 32,775.67 Full 1297. 1272 Here 573,415.4 1 - . SUSO :) B92 023.57 573,496.44 - . Exam 2 Tued FIN 302 Fall 2021.docx Retirement Problem To prepare for your retirement 30 years from now, you plan to save the following amounts each month over the next year The interest rate is ON APR The appropriate PVFAI Amount PV at the end of the decade do Year 24.06 - FV 32,175.87 FV (96) 297, 123.92 $200 5900 11-20 21-10 51.200 573,495.44 =rate (1) in the fathe end of each decade in the table above (2) Aner 30 years you are ready to retire you move your savings to safer investments, which means you expect to earn only APR per year during your retirement You expect to live for 25 more years. How much could you withdraw every month and not run out of money for 25 years? The como PVFA for this calculations 03 57399594 670372s) = 15.92 36,023.58 withdraw this retirement ca) Suppose it is the end of year 20 and you are considering voor financial plan as shown above. You still expect to retire 10 years from now, but you think that you will need a retirement income of $4,000 per month for 25 years after you retire. To meet that goal, you will have to adjust your savings in the last ten years. Fill the following table: Flow much do you need to have in the bank when you retire to be able to withdraw the desired amount per month or 25 years 573,496.44 At the end of year 20, you have a lump sum amount the bank How the For the end the decade the forsale). How much will that he worth in 10 years! C How much money will you have to rate from your last 10 years of savings to reach your goal The them. Row of the able the moninow D How much do you have one per month over the last ten years before you retire to generate the extra savings amount Host: The shoot the now above dveh the approprian FTFO Practice Exam in Class Spring 2009.000 Retirement Problem To prepare for your retirement 30 years trom now, you plan to set the blowing me the next 30s The interest SAPR The appropriate FFAIS Years Amon PV the end of the decade 1-10 $200 11-20 5900 21-30 51.200 (1) Fill in the FV at the end of each decade in the table above (2) Aher 30 years, you are ready to retire. You move your savings to saler investments which means you expect to an only IN APR per year during your retirement You expect to live for 25 more years. How much could you withdraw met dont of money for 25 years? The correct IPVFA for this calculation Withdraw per month in retirement (3)Suppose it is the end of year 20 and you are condering your financial plansshown bove. You wiped to retre 10 years from now, but you think that you will need a retirement income of $4.000 per month for 25 years after you retire. To meet that goal. you will have to adjust your savings in the last ten yean. Fill in the following table: How much do you need to have in the bank when you retire sa be able to withdraw the desiraamatper month for 25 years At the end of year 20 ye have alumpsummuti the bank lorth Fardee decaka for alle. How much will that be worth in 10 years How much money will you have to generate from you Last 10 years of saving to reach your goal? line The Row of table the anowi Now D How much do you hane to save pa mother the last ten years before you retire to generate the extrasavings amount Wint. This the more the above divided by the write FIED