You want to have $2 million in real dollars in an account when you retire in...

You want to have $2 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is 13 percent and the inflation rate is 5 percent. What real amount must you deposit each year to achieve your goal? Multiple Choice • $8,531.47 • $1,972.96 • $8,958.04 • $8,872.73 • $8,104.90

Expert Solution

jeff jeffy answered 1 year ago

You want to have $2.5 million in real dollars in an account when you retire in...

You want to have $2.5 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is 10.3 percent and the inflation rate is 3.7 percent. What real amount must you deposit each year to achieve your goal? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

You want to have $3 million in real dollars in an account when you retire in...

You want to have $3 million in real dollars in an account when you retire in 30 years. The nominal return on your investment is 11 percent and the inflation rate is 2.5 percent. What real amount must you deposit each year to achieve your goal?

You want to have $6 million in real dollars in an account when you retire in...

You want to have $6 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is 13 percent and the inflation rate is 5.1 percent. What real amount must you deposit each year to achieve your goal? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

You want to have $1.05 million in real dollars in an account when you retire in...

You want to have $1.05 million in real dollars in an account when you retire in 38 years. The nominal return on your investment is 8 percent and the inflation rate is 1.5 percent. What is the real amount you must deposit each year to achieve your goal? A. $10,667.67 B. $10,878.49 C. $11,194.39 D. $11,302.03 E. $11,744.12

You want to have $3 million in real dollars in an account when you retire in 30 years

You want to have $3 million in real dollars in an account when you retire in 30 years. The nominal return on your investment is 13 percent and the inflation rate is 3.7 percent. What real amount must you deposit each year to achieve your goal? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Deposit amount = _______

You want a million dollars in the bank when you retire. Save $5000 this year and...

You want a million dollars in the bank when you retire. Save $5000 this year and increases by 2% every subsequent year in a bank that offers 5% interest. How many years before you can retire?

You would like to have $5 million dollars when you retire at age 65. You are...

You would like to have $5 million dollars when you retire at age 65. You are 25 years old and you want to make your first savings payment immediately. You have not saved any money for your retirement as of yet. Assume interest rate is 7%, how much money must you set aside per year until and including your 65th birthday?

1- ) You want to have $3 million when you retire in 40 years. If you...

1- ) You want to have $3 million when you retire in 40 years. If you can earn 12% per year, how much do you need to deposit on a monthly basis if the first payment is made in one month? 2- ) What if the first payment is made today? 3- ) You are considering ABC’s preferred stock that is expected to pay a quarterly dividend of $1.00 forever. If your desired return is 10% per year, how much...

You are 20 years old and you want to retire when you have saves$1 million....

You are 20 years old and you want to retire when you have saves $1 million. You have inherited $250,000 and will not add any other savings to that amount. The money will be conservatively invested at 6% per annum. At what age will you be able to retire a millionaire?

Suppose that you are planning for retirement. You want to have exactly $4 million dollars when...

Suppose that you are planning for retirement. You want to have exactly $4 million dollars when you retire. You just turned 26 and plan to retire on your 65th birthday. For the next 15 years, you can save $10,000 per year (with the first deposit being made one year from now), and at the end of that time (t=15) you plan to buy a car for your child as a gift that will cost $50,000. How much will you have...

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