You are planning your retirement in 10 years. You currently have $120,000 in a bond account...

You are planning your retirement in 10 years. You currently have $120,000 in a bond account and $500,000 in a stock account. You plan to add $5,000 per year at the end of each of the next 10 years to your bond account. The stock account will earn a return of 10.5 percent and the bond account will earn a return of 7 percent. When you retire, you plan to withdraw an equal amount for each of the next 25 years at the end of each year and have nothing left. Additionally, when you retire you will transfer your money to an account that earns 6.25 percent. Required: How much can you withdraw each year in your retirement? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Annual withdrawal amount $

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jeff jeffy answered 2 months ago

You are planning your retirement in 10 years. You currently have $164,000 in a bond account...

You are planning your retirement in 10 years. You currently have $164,000 in a bond account and $604,000 in a stock account. You plan to add $7,600 per year at the end of each of the next 10 years to your bond account. The stock account will earn a return of 10.5 percent and the bond account will earn a return of 7 percent. When you retire, you plan to withdraw an equal amount for each of the next 21...

You are trying to plan for retirement in 10 years, and currently you have $ 120,000...

You are trying to plan for retirement in 10 years, and currently you have $ 120,000 in a savings account and $ 360,000 in stocks. In addition you plan on adding to your savings by depositing $10,000 per year in your savings account at the end of each of the next 5 years and then $20,000 per year at the end of each year for the final 5 years until retirement. a. Assuming your savings account returns 7 percent compounded...

You are planning your retirement in 35 years. You currently have $8,000 and plan to add...

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You wish to have $10 million in your retirement account at the end of 40 years....

You wish to have $10 million in your retirement account at the end of 40 years. You can invest at an annual return of 10 percent per year. a) How much should you deposit every year over the next 40 years to meet your goal? b) How much can you withdraw per year for 30 years after retirement? c) How much can you withdraw for 30 years after retirement if you wish to leave your family with a lump sum...

You are trying to plan for retirement in 10 years, and currently you have $180,000 in...

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You are planning to retire in 40 years. You currently have $ 300,000 in a bond mutual fund and $100,000 in a stock mutual fund. You plan to invest $10,000 per year in the stock mutual fund for the next 40 years (i.e., from t=1 to t=40). The bond fund is expected to earn 4% per year, compounded annually, and the stock account is expected to earn 9% per year, compounded annually, indefinitely. When you retire in 40 years, you...

You are planning to retire when you turn 65. You currently have $25,000 in your retirement...

You are planning to retire when you turn 65. You currently have $25,000 in your retirement account. Based on actuary tables, you expect to live to be 100 years old. During each year of retirement you want to be able to withdraw $50,000 from your retirement account (at the beginning of the year). The interest rate is 3%. You plan to make deposits into your retirement account on your birthday, each year until you retire. How much will you need...

You are planning your retirement in 15 years. You plan to retire with $3,000,000 and your retirement...

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If you currently have$200’000 in your retirement account , and plan to contribute $10,000 per year...

If you currently have$200’000 in your retirement account , and plan to contribute $10,000 per year and can earn 8%(annually) , how long will it take you to reach your goal of $1,000,000?

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You have been saving $100/month for the last 10 years in a retirement account that earns 1% interest monthly. (a) How much money do you have in your retirement account today? (25 points) (b) If you STOP making contributions to your retirement account, but leave the amount you currently have in it to continue earning interest at 1% per month, how much money will you have in your retirement account when you retire in 30 years? (20 points) (c) You...

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