You are trying to decide how much to save for retirement Assume you plan to save $7.000 per you with the first investment made one year from now you think you can eam 110$ per year on your investments and you plan to retire in 25 years inmediately after making your last 57.000 investment How much will you have in your retirement account on the day you retire? c. you hope to be for 16 years in retrament, how much can you withdraw every year in rame (Maring one you the retirements that you will just havit your wings with the wind (some your saving 7.000 per year you wanted to make one lump som investment today to your refrontent that will result in the same time saving, how much would that lump sum need to be? continue to eam 110% in retirement? d. Instead, you decide to withdraw 160.000 per year in retirement again with the first withdrawal one year after wing how many years when you exhaust your savings? (Usland error financial calculator solve for N.o Excel function NPER) 2. Assuming the most you can afford to save $1.400 per year, but you want to retire with $1.000.000 in your investment account, how high el artum do you need to cam on your investments? (Une vial and error a fnancial calculator solve for the interest rate of Excel function RATE) a. How much will you have in your retirement account on the day you retire? The amount in the retirement account in 25 years would be s Round to the nearest cent) b. Instead of investing 57,000 per year you wanted to make one lumpsum investment today for your retirement that will result in the same retirement saving how much would that lump sum need to be? You will need to make one lune som investment today of Round to the nearest cont) c. you hope to live for 16 years in retirement, how much can you withdraw every year in retirement (starting one year after retirements that you will just exhaust your savings with the 16th withdrawal (assume your savings will continue to cam 110% in retirement? The amount you can withdraw every year in retirement is Round to the nearest cant) Enter your answer in each of the answer boxes You are trying to use one you panove i pery retire in 25 years, immediately after making your last 57.000 investment a. How much will you have in your retirement account on the day you ret? b. Instead of Investing 17.000 per year, you wanted to make one lump sum investment today for your retirement that will result in the same retirement saving how much would that lump sum need to be? c. ll you hope to live for 16 years in retirement how much can you withdraw every year in retirement starting one year after retirements that you will haust your savings with the 16th withdrawal (assume your savings continue to cam 110in retirement? d. 1. Instead, you decide to withdraw 160.000 per year in retirement again with the first withdrawal one year after retiring, how many years will take until you exhaust your savings? (Use andere a financial Calculators for N. or Excel function NPER) .. Assuming the most you can afford to save 51.400 per year, but you want to retire with $1.000.000 in your investment account, how high of a retumdo you need to earn on your investments (Use trial and error financial calculator solve for the rest rate of Excel function RATE) Com Nierement The amount you can withdraw every year in retirement is Round to the newest cent) d. Instead, you decide to withdraw 5160,000 per year in retirement again with the first withdrawal one year her retiring, how many years will take until you exhaust your savings? (Use and arora financial calculator solve for of Excel function NPER) You will haust your savings in years. Round to two decimal places) . Asuming the most you can afford to save is 51.400 per year, but you want to retire with $1,000,000 in your investment account, how high of a run do you need to earn on your investments? (Use trial and error, a financial calculator solve for the interest rate, or Excel function RATE) You will need a return of Os Round to be decimal places) Enter your answer in each of the answer boxes
