HELP please! I will for sure leave a thumbs up, all things needed to answer the question are provided. (I provided close up pictures of the appendix A-4)

closer view of Appendix A-4

a CASE 2 Victor and Maria's Retirement Plans Victor, now age 6l, and Maria, age 59, plan to retire at the end of the year. Since his employer changed from a defined-benefit retirement plan to a defined contribution plan 10 years ago, Victor has been contributing the max- imum amount of his salary to several different mutual funds offered through the plan, although his employer never matched any of his contributions. Victor's tax-shel- tered account, which now has a balance of $300,000, has been growing at a rate of 7 percent through the years. Under the previous defined-benefit plan, today Victor is entitled to a single-life pension of $360 per month ($4,320 annually) or a joint and survivor option paying $240 per month ($2,880 annually). The value of Victor's investment of $20,000 in Pharmacia stock some years ago has now grown to $56,000. Maria's earlier career as a medical records assistant provided no retirement program, although she did save $10,000 through her credit union, which was later used a to purchase zero-coupon bonds now worth $28,000. Maria's second career as a pharmaceutical representative for Pharmacia allowed her to contribute to her retire- ment account over the past 9 years, which is now worth $98,000. Pharmacia matched a portion of her con- tributions, and that match is now worth $70,000; its growth rate has ranged from 6 to 10 percent each year. When Maria's mother died last year, Maria inherited her home, which is rented for $1,800 per month; the house has a market value of $300,000. The Hernandezes' per- sonal residence is worth $260,000. They pay combined federal and state income taxes at a 30 percent rate. (a) Sum up the present values of the Hernandezes assets, excluding their personal residence, and identify which assets derive from tax-sheltered accounts. (b) Assume that the Hernandezes sold their stocks, bonds, and rental property, realizing a gain of $34,000 after income taxes and commissions. If that sum plus their tax-sheltered accounts earned a 7 percent rate of return over the Hernandezes anticipated 20 years of retirement, how large an amount could be withdrawn each month? (c) How large an amount could be withdrawn each month if they needed the money over 30 years? (d) How large an amount could be withdrawn each month if the proceeds earned 6 percent for 20 years? For 30 years? (Hint: Use Appendix A-4.) Appendix A-4 Present Value of a Series of Equal Amounts (an Annuity of S1 Received at the end of each penu) (Used to compute the Discounted Present Value of a Stream of Income Payments) 1% 29 20% 59 % 7% u 8% NE %6 10% 19% 16% 11% 17% % 12% % 18% 2 MO ! 6650 SEL OSTO 14% 0.87 09124 ELVA 16060 COD FOTO 05547 15% 009 16257 0.6475 59 PGD PEEET LIST 0.5402 15065 1 2004 ME SON 1.751 16052 95051 16T 23216 15271 2.1065 1 1861 2.7751 63 DIGT MT 26247 240 23612 TERCE OSTE 6617 WE LE CS CELE 15 SZE LUST TIT SE CZ 16 OLE 2.950 2 DIG 017 ZERT 165 999 2:587 2.9900 s BIS DIET BONT SELETE STORE SEGEE RITT COOL 1588T 2.0576 LI NOPT CCSET CHE 5565 LATI 520 16F SI SOET BER 1657 2.5892 MORE SSIFE POST OCIT ISSE 1998 1000 OS TS 89 TE 1906 4283 4.1504 BEO 2261 165 17057 FCC 610 16046 w 73 ISS 1913 90 43416 42072 4,0776 1956 E SU 553 VIT 710 102 25565 5.5110 9909 57980 1446 1100 His 295 10 11 1961 1975 SOSY yang TEST OSED SAL DE 7 7.001 LLO GREFT SO 101 06 w 7.2017 RIOS IEECE ES 05 CES cos 155 77619 SEY VOLE 1 1659 4 REA 5901 150 IDE TI HE TERS SEE TREERU UR RE LES OSE THE 0959 ERGET LIBE IS 5.420 5.1971 11 NO fi 1099 TS 105 295 ERNES 46105 4714 49095 LES 11106 12961 105.11 2950 SSHD ASS SPECS T7052 7.3567 69019 6,672 SEBES SERS ELS 19005 0021 1822 15 FOTO 13297 TICE LOIES 6514 1414 TO 94466 CHES SH 10 5.0916 IN 13092 TEX 4610 4.6755 4.126 0612 DEL TE 157 12.11 TEBOL 116523 121657 1905) 104173 55755 566 5787 59542 2015 ZEGT 21 1991 11.21 CINE 1216 5.6051 5476 0716 1 LA 52321 HET 11 MO 112933 10278 100 Pora 7.7010 HY 6.17 GEESS 30 120 EH 2931 FISCS PLETI GE ZI SEE 01 9501 13642 CE FEEDS SOCOS DW69 1096 1856' T! 55175 55545 COLES SEYE 145 1115140 315 T4004 62199 TER TEZ ISCO MOV 26 B6295 3522 21 ODSET 15.4150 IZZI 11.16 10m2 . 10. 1012 100160 10.2007 140292 14571 14595 $1009 5128 REST 70348 7.1016 T.165 2297 59731 666 M29 111610 120016 3404 SEE 917 MILE CERES GEOS DETS Et MOST wer 55964 5.7214 126 163 THO 5.1666 24 OSO ti TEET SSES 15601 10526 CA 7.784 25 105 TEL 54529 SESSE 1743 12.7.14 TOLGA 9. 14.099 12375 65729 5.7 5.7662 DOEE 9E91 11 90710 9.16 IS IT 1 6464 648 DOID E 4217 LAMI 35478 LE SAL co Site 73117 60725 6.0971 1182 6.1364 19053 54669 S480 201210 20.7059 21 CATE 27 2355 ZEBI 0191 10.9352 HES 54625 11.1967 12.07 TAGS 650 6165 18.7641 196511 114062 TOSTI 3906 10 0206 19.116 10.153 BOG 15 9021 T. 16.631 16 17.2920 1.7921 7.9426 7.5941 0218 SEES 9 SE69 70569 0869 5301 5.2151 52228 PER SAST ILOS 67 R N LES 90 153413 POSTI 7.4412 74701 7.4957 1059 65509 95919 10 196004 15.375 12:4090 11 2574 SCUE CSERE 0999 936 34 779 9913 0022 3.1050 6 1772 POTES GES 155 55016 5509 5518 55 55541 HRTE 6876 LUCE ET 11 19511 BB 1199 17.1991 182559 15.00 151618 SEET 39.2961 4.99 107574 109611 11.01 13.800/ I 12 2135 1.0417 SHOE 7675) CREIE 10023 52673 Appendix A-4 Present Value of a series of Equal Amou (Used to Compute the Discounted Prese n 1% 3% 5% 6% 7% 4% 0.9615 9% 1 2% 0.9804 1.9416 2.8839 8% 0.9259 10% 09091 0.9524 09434 0.9709 19135 0.9346 0.9174 2 0.9901 1.9704 2.9410 3.9020 18594 1.8334 1.8080 1.7355 3 2.6243 2.4869 4 1.8861 2.7751 3.6299 4.4518 3.8077 2.8286 3.7171 45797 5.4172 2.7232 3.5460 4.3295 2.6730 3.4651 1.7833 2.5771 3.3121 3.9927 1.7591 2.5313 3.2397 3.8897 5 3.1699 3.7908 42124 3.3872 4.1002 47665 4.8534 5.7955 6.7282 6 4.7135 5.6014 6.4720 5.0757 44859 43553 5.2421 6.0021 7 6.2303 4.9173 5,5824 6.2098 4.6229 5.2064 5.7466 5.0330 48684 8 7.3255 6.7327 5.7864 6.4632 7.1078 5.5348 7.6517 8.5660 5.3349 70197 7.7861 53893 5.9713 65152 7.0236 9 8.1622 7.4353 68017 5.7590 10 8.5302 7.3601 9.4713 103676 8.9826 9.7868 10.5753 8.1109 8.7605 7.7217 83064 6.2469 6.7101 7:1390 6.1446 6.4951 11 78869 7.4987 9.2526 99540 59952 6.4177 68052 7.1607 7.4869 7.7862 12 7.9427 6.8137 13 11.3484 83577 11.2551 12.1337 13.0037 13.8651 10.6350 11.2961 8.8633 93936 9.8986 10.3797 8.3838 8.8527 9.2950 9.7122 7.5361 7.9038 8.2442 7.1034 7.3667 93851 9.9856 10.5631 11 1184 11.6523 12.1657 14 15 12.1062 12.8493 13.5777 14 2919 8.7455 9.1079 9,4466 8.5595 7.6061 16 8.0607 83126 147179 10 8378 8.8514 78237 10.1059 10.4773 17 9.7632 8.0216 15.5623 16.3983 11.9379 125611 13.1661 13.7535 14.3238 14.8775 9.1216 9.3719 8.5436 8.7556 18 8.2014 12.6593 13.1339 19 17.2260 18.0456 11:2741 11.6896 12.0653 12.4622 12.8212 14.9920 15.6785 16.3514 17.0112 17.6580 10.8276 11.1581 11.4699 11.7641 20 9.6036 98181 10.0591 10.3356 10.5940 10.8355 11.0612 8 9501 9.1285 9.2922 8.3649 8.5136 8.6487 13.5903 14.0292 14,4511 21 15.4150 10,0168 18.8570 19.6604 20.4558 22 13.1630 9.4424 15.9369 16 4436 23 10.2007 10.3711 8.7715 8.8832 148568 11.2722 24 25 18.2922 18.9139 19.5235 95802 9.7066 15.2470 21.2434 22.0232 10.5288 13 4886 13.7986 14.0939 14.3752 12.0416 12.3034 12.5504 12.7834 13.0032 13,2105 8.9847 9.0770 16.9355 17.4131 17.8768 18.3270 10.6748 9.8226 156221 15.9828 22.7952 20.1210 10.8100 26 27 9.9290 9.1609 23.5596 24.3164 16.3296 11.4693 11.6536 118258 11.9867 12.1371 12:2777 10.9352 14,6430 14.8981 28 20.7069 21.2813 21.8444 22.3965 16,6631 9.2372 9.3066 13.4062 13.5907 10.0266 10.1161 10.1983 18.7641 19.1885 19.6004 29 11.0511 11.1584 25.0658 25.8077 15.1411 16.9837 17.2920 9.3696 30 12.4090 153725 17.1591 9.4269 888 32.8347 273555 23.1148 13.7648 15.0463 15.7619 19.7928 21.4822 13.3317 11.2578 11.9246 12.2335 10:2737 10.7574 50 39.1961 31.4236 25.7298 18.2559 13.8007 9.7791 9.9148 10.9617 10% 12% 11% 13% 14% 15% 16% 18% 17% 19% 20% 0.8333 0.8929 0.9091 0.9009 0.8772 0.8475 0.8696 0.8850 0 8403 0.8547 0.8621 1.6052 1.6901 1.5278 1.6681 1.5852 1.7125 1.6467 1.5656 1.6257 2 2832 1.5465 2.1399 1.7355 2.4869 3.1699 2.3612 2.3216 2.4018 22096 2.1743 2.1065 2.4437 3.1024 3.0373 2.9745 2.9137 2.8550 2.7432 26901 26386 2.5887 2.2459 2.7982 3.2743 3.6847 3.6959 3.6048 3.5172 3.4331 3.3522 2.9906 3.1272 3.0576 3.7908 43553 3.1993 3.5892 4.2305 3.4098 33255 4.1114 3.8887 3.7845 3.9975 4.4226 4,0386 4.5638 3.9224 3.6046 41604 3.4976 3.8115 4,0776 4.8684 3.7057 4.7122 4.2883 4.6389 5.3349 5.1461 3.8372 3.9544 4.9676 4.7988 4.4873 4.3436 4.2072 5.7590 5.5370 5.3282 5.1317 40310 4.9464 46065 4.4506 4.1633 43030 6.1446 5.4262 5.2161 5.8892 4.8332 4.4941 4 1925 43389 4.6586 6.4951 4.4865 56502 5.9377 6.1944 6.2065 4.6560 5.0286 4.3271 5.6869 48364 5.4527 5.6603 4.7716 5.0188 5.2337 5.4206 5.5831 5.7245 4.7932 6.8137 5.9176 4.4392 4.9884 4.6105 6.4924 6.7499 6.4235 5.8424 4.9095 5.1971 5.3423 5.4675 7.1034 7.3667 4.7147 6.1218 6.3025 4.5327 4.6106 6.9819 6.6282 4.8023 6.0021 5.0081 5.1183 5.2293 5.3242 5.4053 7.6061 7.1909 6.8109 6.4624 6.1422 5.8474 5.5755 5.0916 48759 4.6755 7.8237 7.3792 4.7296 6.9740 6.2651 5.9542 4.9377 5.1624 6.6039 6.7291 5.6685 5.7487 8.0216 7.1196 6,3729 6.0472 4.7746 5.4746 4.9897 5.2223 5.2732 7.2497 6.8399 6.4674 6.1280 5.8178 5.5339 4.8122 5.0333 7.5488 7.7016 7.8393 7.9633 8.2014 8,3649 8.5136 7.3658 6.9380 6.5504 6.1982 5.8775 5.5845 53162 4.8435 5.0700 5.1009 7.4694 7.0248 6.6231 6.2593 5.9288 53527 4.8696 8.6487 8.0751 7.5620 7.1016 6.6870 5.9731 5.1268 4.8913 8.7715 8.1757 7.6446 7.1695 6,7429 6.3125 6.3587 6.3988 5.6278 5.6648 5.6954 5.7234 5.7465 5.3837 5.4099 5.4321 5.1486 4.9094 8.8832 8.2664 7.7184 6.0113 6.0442 6.0726 6.7921 5.1668 7.2297 7.2829 4.9245 8.9847 8.3481 7.7843 6.8351 5.4509 5.1822 4.9371 6.4338 6.4641 9.0770 8.4217 7.8431 7.3300 6.8729 6.0971 5.7662 5.1951 5.2060 9.1609 8.4881 7.8957 7.3717 6.9061 6.4906 5.7831 5.4669 54804 5.4919 4.9476 4.9563 49636 8.5478 79426 6.9352 6.1182 6.1364 6.1520 9.2372 9.3066 9.3696 5.2151 7.4086 7.4412 6.5135 6.5335 5.7975 5.8099 8.60 16 7.9844 6.9607 5.5016 5.2228 4.9697 8.6501 8.0218 7.4701 6.9830 6.5509 5 5098 5 2292 4.9747 6.1656 6.1772 5.8204 5.8294 8.6938 8.0552 7.0027 6.5660 5.5168 5.2347 4.9789 9.4269 9.7791 7.4957 7.6344 8.9511 7.1050 6,6418 6.2335 5.8713 5.5482 4.9966 8.2438 8.3045 5.2582 5.2623 9.9148 9,0417 7.6752 7.1327 6,6605 6.2463 5.8801 5.5541 4.9995