for salary: b. Your current income/expenses are $100,000 and that is the same standard of living you will have in retirement. To estimate expenses, you can take the average of the first year in retirement and last year in retirement and assume that is the value for each year in retirement.

6. You are saving for retirement. Use the following information to answer the question. a. Using the salary in 5, assume your average salary increase is 3.75% per year. b. Assume that you save in a 401(k) type account the average of your first and last year's salary at 15% each year (similar to the way you did expenses). To estimate contributions, you can take the average of the first year working contribution and the last working year contribution and assume that is the value for each year's contribution during your career. c. You carn 9% throughout your working life. Will you have enough in retirement (tell me how much you will have)? 2 How much in total can you leave your heirs to exactly meet your longevity goal? 7. Create an amortization table for the following mortgage. Mortgage amount is $300,000 b. The mortgage is a 30 year fixed at 4% (paid monthly) c. You pay an additional $100 per month until the mortgage is paid. When will the mortgage be paid off? 6. You are saving for retirement. Use the following information to answer the question. a. Using the salary in 5, assume your average salary increase is 3.75% per year. b. Assume that you save in a 401(k) type account the average of your first and last year's salary at 15% each year (similar to the way you did expenses). To estimate contributions, you can take the average of the first year working contribution and the last working year contribution and assume that is the value for each year's contribution during your career. c. You carn 9% throughout your working life. Will you have enough in retirement (tell me how much you will have)? 2 How much in total can you leave your heirs to exactly meet your longevity goal? 7. Create an amortization table for the following mortgage. Mortgage amount is $300,000 b. The mortgage is a 30 year fixed at 4% (paid monthly) c. You pay an additional $100 per month until the mortgage is paid. When will the mortgage be paid off