In: Finance
As mentioned in the question the manager is planning for his retirement along with certain expenses such as daughter's marriage and Exchange of his car. That expenses need to be accounted for and need to be deducted from the accumulated amount. Why that need to be deducted from the accumulated amount as they are interim expenses and will arise prior to retirement and the expectation of $15000/- per year need to be taken care. Hence following is the tabular presentation of yearly investment he need to do and the same is divided into monthly and daily investment amount. Further we have assumed that he will be getting a return of 10% p.a. on his investment. Please refer the following table for answer of both the questions.
With this we get the desired results of returns.