You plan to save $1,200 per month for the next 35 years until you retire. After...

You plan to save $1,200 per month for the next 35 years until you retire. After you retire you want to withdraw $450,000 per year for 30 years. If you expect to earn 6% after retirement, what annual rate will you need to earn until you retire to meet your goal?

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jeff jeffy answered 1 year ago

You want to retire in 35 years and plan to invest $2,000 per month until you...

You want to retire in 35 years and plan to invest $2,000 per month until you retire. If you would like to be able to withdraw $200,000 per year for 25 years during retirement, what annual rate will you have to earn until retiring if you expect to earn 5% after you retire?

You hope to retire in 35 years and plan to invest $350 per month until retiring....

You hope to retire in 35 years and plan to invest $350 per month until retiring. If you expect to earn 9% until you retire and 5% after retiring, how much will you be able to withdraw each month for 30 years during you retirement? A. $5,527 B. $939.44 C. $2,424.29 D. $283.62

You plan to save $340 per month starting today for the next 43 years "just to...

You plan to save $340 per month starting today for the next 43 years "just to start the month off right." You feel that you can earn an interest rate of 10 percent compounded monthly. How much will there be in the account 43 years from today?

a)You plan to save $5,400 per year for the next 12 years. After the last deposit,...

a)You plan to save $5,400 per year for the next 12 years. After the last deposit, you will keep the money in the account for 5 more years. The account will earn an interest rate of 5.7 percent. How much will there be in the account 17 years from today? $148,368.04 $89,517.93 $30,258.50 $229,712.61 $118,109.54 B)Your grandparents put $12,400 into an account so that you would have spending money in college. You put the money into an account that will...

Suppose you plan to save $8,000 per year for the 35 years you are working. In...

Suppose you plan to save $8,000 per year for the 35 years you are working. In addition to the amount you are saving each year, you expect to sell your house for $600,000 in year 32 and deposit this money into your account. How much can you withdraw in equal amounts each year for the 30 years you are retired. The interest rate you will earn during the 35 years you are saving is 7%. Once you retire, you’ll reduce...

Suppose you plan to save $8,000 per year for the 35 years you are working. In...

Suppose you plan to save $8,000 per year for the 35 years you are working. In addition to the amount you are saving each year, you expect to sell your house for $600,000 in year 34 and deposit this money into your account. How much can you withdraw in equal amounts each year for the 30 years you are retired. The interest rate you will earn during the 35 years you are saving is 9%. Once you retire, you’ll reduce...

You will retire in 30 years. At the beginning of each month until you retire, you...

You will retire in 30 years. At the beginning of each month until you retire, you will invest X earning interest at 9% convertible monthly. Starting at year 30, you will withdraw $4,000 at the beginning of each month for the next 15 years. Also, starting at year 30, your fund will only earn interest at 6% convertible monthly. Find X such that your account will be empty after the last withdrawal.

You plan to retire after 30 years. After that, you need $200,000 per year for 10...

You plan to retire after 30 years. After that, you need $200,000 per year for 10 years (first withdrawal at t=31). At the end of these 10 years, you will enter a reitrement home where you will stay for the rest of your life. As soon as you enter the retirement home, you will need to make a single payment of $1,000,000. You want to start saving for your retirement in an account that pays you 9% p.a. Therefore, beginning...

If you save $2,000 per month for the next 6 years, you would be accumulating $200,000....

If you save $2,000 per month for the next 6 years, you would be accumulating $200,000. What is the implicit annual percentage rate?

Suppose you save $1,000 per month for 35 years. The bank promises you an annual interest...

Suppose you save $1,000 per month for 35 years. The bank promises you an annual interest rate of 3% compounded monthly. How much will the savings account be worth in 35 years? (Assume no withdrawals take place). 420,000.00 $741,563.66 $913,730.94 $1,523,212.27

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You plan to save $1,200 per month for the next 35 years until you retire. After...

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