Question
Simon and Paige Simon (age 25) and Paige (age 28) would like to retire when Paige turns 65. They expect they will need $40,000 in
Simon and Paige
Simon (age 25) and Paige (age 28) would like to retire when Paige turns 65. They expect they will need $40,000 in after-tax income (in todays dollars) at the beginning of every year in retirement.
They are comfortable investing in a portfolio that is aligned with their investor profile (shown below) and expect to pay investment management fees of 1.075% per year.
How much will they need to save every month to fund their retirement needs if they do not currently have any investments earmarked for retirement?
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| Step 1 | Step 2 | Step 3 |
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| P/Y = C/Y |
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| N |
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| I/Y |
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| PV |
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| PMT |
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| FV |
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Micro Entrepreneurship And Micro Enterprise Development In Malaysia Emerging Research And Opportunities
Authors: Abdullah Al Mamun , Mohammad Nurul Huda Mazumder, Noor Raihani Zainol, Rajennd Muniady
1st Edition
1522584730,1522584757
