Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help with 5 and 6, urgent!! please just show the inputs i need for question 5 2. Calculation the amount you will need the

please help with 5 and 6, urgent!!
image text in transcribed
image text in transcribed
please just show the inputs i need for question 5
2. Calculation the amount you will need the day you retire if you want the amount you calculated in part 1 pald out annually from the day you retire until the last date you want to receive retirement income and you want to leave nothing to your heirs. Assume the rate of return you will receive during this period is 2% less than the investment rate you chose above (people generally invest a little bit more conservatively during retirement). ($18,677,759.16) 3. Now do the same calculation as part 2, but include the amount you decided to leave to your heirs above. ($18,679,231.33) 4. Using your answer to part 3, find the equal annual amount you would need to save every year from the age you input as now until the date you retire to reach the amount in answer 3 , use the investment rate you chose above. $34,168.44 5. Now let's assume you are 10 years into saving for your retirement, so 10 years older than what you chose as your age now and assume you earned 2% less than expected on your investments and you ended up putting ayghy only half as much as you assumed above. Now calculate the equal annual amount you would need to save every year to still save to the amount in part 3 , assuming you can now earned the assumed investment rate. 6. Assume that the amount you calculate in part 3 is too much for you to possibly save, suggests so ethical options. 2. Calculation the amount you will need the day you retire if jou want the amount you calculated in part 1 paid from the day you retire until the last date you want to receive retirement income and you want to leave nothing to Assume the rate of return you will receive during this period is 2% less than the investment rate you chose above aenerallv invest a little bit more conservatively during retirement). 2. Calculation the amount you will need the day you retire if you want the amount you calculated in part 1 pald out annually from the day you retire until the last date you want to receive retirement income and you want to leave nothing to your heirs. Assume the rate of return you will receive during this period is 2% less than the investment rate you chose above (people generally invest a little bit more conservatively during retirement). ($18,677,759.16) 3. Now do the same calculation as part 2, but include the amount you decided to leave to your heirs above. ($18,679,231.33) 4. Using your answer to part 3, find the equal annual amount you would need to save every year from the age you input as now until the date you retire to reach the amount in answer 3 , use the investment rate you chose above. $34,168.44 5. Now let's assume you are 10 years into saving for your retirement, so 10 years older than what you chose as your age now and assume you earned 2% less than expected on your investments and you ended up putting ayghy only half as much as you assumed above. Now calculate the equal annual amount you would need to save every year to still save to the amount in part 3 , assuming you can now earned the assumed investment rate. 6. Assume that the amount you calculate in part 3 is too much for you to possibly save, suggests so ethical options. 2. Calculation the amount you will need the day you retire if jou want the amount you calculated in part 1 paid from the day you retire until the last date you want to receive retirement income and you want to leave nothing to Assume the rate of return you will receive during this period is 2% less than the investment rate you chose above aenerallv invest a little bit more conservatively during retirement)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Analysis And Modeling Using Excel And VBA

Authors: Chandan Sengupta

2nd Edition

047027560X, 978-0470275603

More Books

Students also viewed these Finance questions

Question

Explain the various ways to protect employees.

Answered: 1 week ago