Li and Courtney know that you are completing a personal finance course and that you understand how to complete a Projecting Retirement Income and Investment Needs worksheet. They have gathered the following information for you: Interest Factors-Future Value Interest Factors-Future Value of an Annui Periods 3.00% 5.00% 6.00% 8.00% 9.00% 1.810 2.653 3.210 4.661 5.600 6.848 8.620 10.062 13.260 14.785 20.410 2.090 3.386 4.290 4.322 5.740 2.420 2.810 5.516 7.690 3.260 7.040 10.280 21.724 31.410 20 25 30 35 40 F. Company employer pension plans, annual amounts " G. Other sources, annual amounts H. Total annual income (C+ F + G) 1. Additional required income, or annual shortfall (D-H) III. Inflation Factor 3. Expected average annual inflation rate over the period to retirement K. Inflation factor erest Factors-uture Value Interest Factors-Future Value of an Annuity (a) Years to retirement (A) (b) Average annual inflation rate (1) L. Size of inflation-adjusted annual shortfall IV. Funding the Shortfall Periods 3.00% 5.00% M. Anticipated return on assets held after retirement pacco Jecunt or asses N. Amount of retirement fund required (your nest egg) 20 25 Complete the following workshost. Note: 1) Every field must have a valun (f your answer is zero, type 0%); 2) some values are repeated; and 3) round the average annual inflation rats and the expected rate of return on investments prior to retirement to three decimal places, and round everything else to ho decimal places (or the nearest whole number if it does not let you enter decimals), O. Expected rate of return on investments prior to retirement P. Compound interest factor (a) Years to retirement (A) (b) Expected rate of return on investments prior to retirement (0) Q. Annual savings required to fund retirement nest egg (N+P) 30 Projecting Retirement income and investment Needs Name(s): Land Courtney I. Estimated Household Expenditures in Retirement A. Approximate number of years to retirement B. Current level of annual household expenditures, excluding savings C. Estimated household expenses in retirement as a percentage of current expenses D. Estimated annual household expenditures in retirement (8 x C) II. Estimated Income in Retirement E. Social Security, annual income 35 40 6.00% 8.00% 36.780 45.762 9.00% 51.160 26.870 33.066 36.460 47.726 54.860 73.105 84.700 47.570 66.438 79.060 113.282 136.300 60.460 90.318 111.430 172.314 215.700 75.400 120.797 154.760 259.052 337.870 Date: May 2015 4400; D $ 96 % 96 Li and Courtney know that you are completing a personal finance course and that you understand how to complete a Projecting Retirement Income and Investment Needs worksheet. They have gathered the following information for you: Interest Factors-Future Value Interest Factors-Future Value of an Annui Periods 3.00% 5.00% 6.00% 8.00% 9.00% 1.810 2.653 3.210 4.661 5.600 6.848 8.620 10.062 13.260 14.785 20.410 2.090 3.386 4.290 4.322 5.740 2.420 2.810 5.516 7.690 3.260 7.040 10.280 21.724 31.410 20 25 30 35 40 F. Company employer pension plans, annual amounts " G. Other sources, annual amounts H. Total annual income (C+ F + G) 1. Additional required income, or annual shortfall (D-H) III. Inflation Factor 3. Expected average annual inflation rate over the period to retirement K. Inflation factor erest Factors-uture Value Interest Factors-Future Value of an Annuity (a) Years to retirement (A) (b) Average annual inflation rate (1) L. Size of inflation-adjusted annual shortfall IV. Funding the Shortfall Periods 3.00% 5.00% M. Anticipated return on assets held after retirement pacco Jecunt or asses N. Amount of retirement fund required (your nest egg) 20 25 Complete the following workshost. Note: 1) Every field must have a valun (f your answer is zero, type 0%); 2) some values are repeated; and 3) round the average annual inflation rats and the expected rate of return on investments prior to retirement to three decimal places, and round everything else to ho decimal places (or the nearest whole number if it does not let you enter decimals), O. Expected rate of return on investments prior to retirement P. Compound interest factor (a) Years to retirement (A) (b) Expected rate of return on investments prior to retirement (0) Q. Annual savings required to fund retirement nest egg (N+P) 30 Projecting Retirement income and investment Needs Name(s): Land Courtney I. Estimated Household Expenditures in Retirement A. Approximate number of years to retirement B. Current level of annual household expenditures, excluding savings C. Estimated household expenses in retirement as a percentage of current expenses D. Estimated annual household expenditures in retirement (8 x C) II. Estimated Income in Retirement E. Social Security, annual income 35 40 6.00% 8.00% 36.780 45.762 9.00% 51.160 26.870 33.066 36.460 47.726 54.860 73.105 84.700 47.570 66.438 79.060 113.282 136.300 60.460 90.318 111.430 172.314 215.700 75.400 120.797 154.760 259.052 337.870 Date: May 2015 4400; D $ 96 % 96