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fill in the 4 blanks for me please you may need this info as well from previous questions and my answers Based on my total
fill in the 4 blanks for me please
you may need this info as well from previous questions and my answers
Based on my total retirement savings from question $5, assuming those funds are invested at 5% compounded annually, I am able to withdraw \$ from my retirement fund each year over the next 20 years. Show all inputs below. Compute with the financial calculator (solve for PMT). INPUIS: N=20I/Y=5FV=0PV=1,680,000PMT= 7. In order to meet your retirement goals (withdrawing an annuity stream for 20 years) from question #4, how much would you need to have in your retirement account at age 65 ? In other words, based on the amount of the annuity from question #4, the total retirement savings account must have an actual balance of in the account on the day of retirement at age 65 assuming a rate of 5% compounded anually. This is a present value of annuity calculation (CPT PV). (Show all inputs below.) iNPuT: N=20Y/Y=5FV=0PV=PMT=84,000 4. YOUR ESTIMATE/BEST GUESS: I intend to withdraw $84,000 at the END of each year from my retirement account to support my lifestyle. Input how much you think you need to live comfortably in your retirement years. To help you with your estimate, experts estimate you should plan to live on approximately 70% of your ending salary in your retirement years in order to maintain your standard of living. (Assume no pension or Social Security benefits.) 5. When 1 retire, my goal is to have saved $1,680,000 in a retirement account. I believe these funds will be sufficient to maintain my desired lifestyle through my retirement years, One approach is to take your figure from 14 and multiply it by 20 years, assuming a 20 year retitement. There are no wrong answers here, Input this figure BEFORE you calculate anything on the Excel template, Just take a guess. What do you think is a reasonable amount to have as your nest egg on the day you retire (age 65 in this example) that would support the annuity withdrawal from the previous Step by Step Solution
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