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1. You would like to have $92,181 each year of your retirement. Your retirement will last...

1. You would like to have $92,181 each year of your retirement. Your retirement will last for 35 years and start 23 years from today.

How much would you have to invest, each year, starting next year, for 11 years to exactly pay for the down payment if your investments earn 4.84% APR compounded annually?

2. An investment company offers to sell you an annuity that pays $4,531 per month, starting next month, for 13 years. If your investments earn 4.7% APR (compounded monthly), how much should you pay today for the investment?

3. You are very wise and as such you save $939 every month, starting next month, for your total career of 31 years. If your investments earn 2.05% APR (compounded monthly) how much will you have in your investment account in 31 years?

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jeff jeffy answered 1 year ago
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