Question
Michael wants to retire with $995,000.00. How much does Michael need to save each year for 10 years if he wants to retire in exactly
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Michael wants to retire with $995,000.00. How much does Michael need to save each year for 10 years if he wants to retire in exactly 10 years, can earn 12.11 percent on his savings, starts saving in exactly 1 year, saves an equal amount each year, and has $39,800.00 in his account today?(Round the value to 0 decimal and enter the positive value)
QUESTION 2
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Andrew wants to retire with $952,000.00. How much does Andrew need to save each year for 9 years if he wants to retire in exactly 9 years, can earn 8.62 percent on his savings, makes his first contribution to savings later today, and saves an equal amount each year?(ROUND THE VALUE TO 0 DECIMAL AND ENTER THE POSITIVE VALUE)
QUESTION 3
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How much does Jimmie need to save each year for 9 years as a regular savings payment if he wants to retire in exactly 9 years with $941,000.00, can earn 13.96 percent on his savings, starts making regular savings payments in exactly 1 year, and saves an equal amount each year with one exception, which is that in 1 years, he plans to make an extra contribution of $30,300.00 to savings?(ROUND THE VALUE TO 0 DECIMAL AND ENTER THE POSITIVE VALUE)
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