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E. When Riley retires, they would like to be able to withdraw $1250 semimonthly (twice per month) from their retirement account, and do so for
E. When Riley retires, they would like to be able to withdraw $1250 semimonthly (twice per month) from their retirement account, and do so for 15 years. Their retirement annuity has a 6% APR. 18. How much in total will Riley withdraw from the account over the 15 years? 19. How much must Riley have in the account at the time they retire? 20. If they start saving 10 years before retirement, how much will Riley need to depoist semimonthly to reach their goal? How much will they deposit in total over the 10 years? 21. If they start saving 25 years before retirement, how much will Riley need to depoist semimonthly to reach their goal? How much will they deposit in total over the 25 years? 22. If they start saving 40 years before retirement, how much will Riley need to depoist semimonthly to reach their goal? How much will they deposit in total over the 40 years? E. mens rasan Pat is going to start a college fund for a child. They want the child to eventually be able to withdraw $5000 per quarter for four years. Pat's credit union offers a college savings annuity account with a 5.1% APR. 23. How much in total would the child withdraw from the account over the four years? 24. How much must Pat have in the account when the child starts college? 25. If they start saving 18 years before the child starts college, how much will Pat need to depoist monthly to reach their goal? How much will they deposit in total over the 18 years? 26. If they start saving 12 years before the child starts college, how much will Pat need to depoist monthly to reach their goal? How much will they deposit in total over the 12 years? 27. If they start saving four years before the child starts college, how much will Pat need to depoist monthly to reach their goal? How much will they deposit in total over the four years? opere non
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