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please write the formula and calculated process I have put the questions into the attach file You are planning to save for retirement over the
please write the formula and calculated process
I have put the questions into the attach file
You are planning to save for retirement over the next 30 years. To do this, you will invest $750 per month in a stock account and $350 per month in a bond account. The return of the stock account is expected to be 9.5 percent, and the bond account will pay 5.5 percent. When you retire, you will combine your money into an account with a 6.5 percent return. How much can you withdraw each month from your account assuming a 25-year withdrawal period? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Withdrawal$ per month A 15-year annuity pays $2,050 per month, and payments are made at the end of each month. If the interest rate is 10 percent compounded monthly for the first seven years, and 6 percent compounded monthly thereafter, what is the present value of the annuity? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value $ Prepare an amortization schedule for a five-year loan of $61,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank - be certain to enter "0" wherever required.) Beginning Balance Year 1 2 Total Payment $ Interest Payment $ Principal Payment $ Ending Balance $ 3 4 5 How much interest is paid in the third year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Interest paid $ How much total interest is paid over the life of the loan? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total interest paid $ $Step by Step Solution
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