Question
Can you Solve it in Excel Please Today is your 25 th birthday. You have decided that it is necessary to plan your own retirement
Can you Solve it in Excel Please
Today is your 25th birthday. You have decided that it is necessary to plan your own retirement since you are not confident that government benefits will be available when you retire. You will make annual payments into an account earning 5% APY starting on your next birthday (26th) a year from now. Your last payment will occur on your 70th birthday. You have decided that you need to plan for payments of $500,000 per year and that there will be a total of 20 yearly payments made starting on your 70thbirthday.
- How much should be in your account on your 70th birthday in order to accomplish your goal?
- How much will your annual payment until you retire need to be in order to accomplish your goal?
- Suppose this is your 45th birthday, instead of your 25th birthday in the problem above. Now, how much will your annual payment until you retire need to be in order to accomplish your goal?
Can you Solve it in Excel Please
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Beyond Greed And Fear Understanding Behavioral Finance And The Psychology Of Investing
Authors: Hersh Shefrin
1st Edition
0195161211, 978-0195161212
