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Jordan wants to be able to withdraw $36,000 annually for 30 years after retirement. Jordan's annuity account carns 7.5% annual interest. Parts ac are regular
Jordan wants to be able to withdraw $36,000 annually for 30 years after retirement. Jordan's annuity account carns 7.5% annual interest. Parts ac are regular credit. Parts d - hare extra credit (but highly recommended). a. What will the value of the annuity need to be when Jordan retires in order to achieve this goal? b. How much money will Jordan have withdrawn altogether in 30 years? . How much of Jordan's total withdrawals will have been from interest? 5 d. (Extra credit) Currently, Jordan gets paid bi-weekly (every 2-week). How much would Jordan have to deposit from each bi-weekly paycheck into an account paying 5.4% interest in order to accumulate the annuity balance from part a in 25-years. CO e. (Extra credit) What would the total value of Jordan's deposits be over the 25-year growth phase of his annuity? f. (Extra credin) How much interest would Jordan earn on his deposits during the growth phase of his annuity? $. (Extra credit) How much interest will Jordan have carned during the combined growth and deposit phases of his annuity? h. (Extra credit) What percent of Jordan's total payouts will have been from interest? Jordan wants to be able to withdraw $36,000 annually for 30 years after retirement. Jordan's annuity account carns 7.5% annual interest. Parts ac are regular credit. Parts d - hare extra credit (but highly recommended). a. What will the value of the annuity need to be when Jordan retires in order to achieve this goal? b. How much money will Jordan have withdrawn altogether in 30 years? . How much of Jordan's total withdrawals will have been from interest? 5 d. (Extra credit) Currently, Jordan gets paid bi-weekly (every 2-week). How much would Jordan have to deposit from each bi-weekly paycheck into an account paying 5.4% interest in order to accumulate the annuity balance from part a in 25-years. CO e. (Extra credit) What would the total value of Jordan's deposits be over the 25-year growth phase of his annuity? f. (Extra credin) How much interest would Jordan earn on his deposits during the growth phase of his annuity? $. (Extra credit) How much interest will Jordan have carned during the combined growth and deposit phases of his annuity? h. (Extra credit) What percent of Jordan's total payouts will have been from interest
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