You have just retired with savings of $6 million. If you expect to live for 58 years and to earn 13% a year on your savings, how much can you afford to spend each year (in $ dollars)? $____. (Assume that you spend the money at the start of each year.) You want to retire in 25 years. You currently have $200,000 saved and you believe you need $1,200,000 at retirement. What annual interest rate will you need to earn to meet your goal? 96 If the toss of a coin comes down heads, you win two dollars. If it comes down tails, you lose fifty cents. How much would you expect to gain after 25 tosses (in $ dollars)? $__ Jefferson's recently paid an annual dividend of $6 per share. The dividend is expected to decrease by 3% each year. How much should you pay for this stock today if your required return is 1496 (in $ dollars)? $__ The nominal rate of return is % earned by an investor in a bond that was purchased for $1,000, has an annual coupon of 8%, and was sold at the end of the year for $960? Assume the face value of the bond is $1,000