Question
Hi, can you please answer these questions it will be dearly appreciated appreciated :) Thanks! You and your wife are making plans for retirement. You
Hi, can you please answer these questions it will be dearly appreciated appreciated :) Thanks!
You and your wife are making plans for retirement. You plan on living 30 years after you retire and would like to have $80,000 annually on which to live. Your first withdrawal will be made one year after you retire and you anticipate that your retirement account will earn 12% annually.
What amount do you need in your retirement account the day you retire? Round your answer to the nearest cent. Do not round intermediate calculations. $
Assume that your first withdrawal will be made the day you retire. Under this assumption, what amount do you now need in your retirement account the day you retire? Round your answer to the nearest cent. Do not round intermediate calculations. $
Today, you invest a lump sum amount in an equity fund that provides an 9% annual return. You would like to have $12,200 in 6 years to help with a down payment for a home. How much do you need to deposit today to reach your $12,200 goal? Round your answer to the nearest cent. Do not round intermediate calculations.
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