If Edward wants to earn 215,000 within the next 20 years and the salaries grow at 4.15% per year, what salary should he start at to reach his goal.
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If Edward wants to earn 215,000 within the next 20 years and the salaries grow at 4.15% per year, what salary should he start at to reach his goal.
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- Assume that you are 30 years old today (t=0), and that you plan to retire at age of 65 (t=35). Your annual salary is $65,000 in the coming year (t=1), and you expect your salary to increase at a rate of 5 percent annually as long as you work. You have two financial goals for your retirement. First, you expect to spend 48,000 per year for 20 years after your retirement. The first expense will be one year after retirement (t=36). Second, you expect to leave $2,000,000 to your daughter on your 80th Birthday (t=50). To save for your retirement, you plan to make annual contributions to a retirement account. Your first contribution will be made on your 31st birthday (t=1) and will be a fixed percentage of this year’s salary. Likewise, you expect to deposit a fixed percentage of your salary each year until you reach age of 65 (t=35). Assume that the interest rate is 10 percent. Also assume incomes and expenses occur at the end of each year unless specified differently a) What is the future…If edward want to earn 215,000 within the next 20 years and the salaries grows at 4.15% per year what salary should he start at to reach his goalGilles Lebouder has just been offered a job at $50,000 a year. He anticipates his salary will increase by 5% a year until his retirement in 40 years. Given an interest rate of 8%, what is the present value of his lifetime salary?
- suppose you want to make sure you have 2,000,000 when you retire in 35 years. what even annual payment would you have to make to get to your goal. if you can earn 6% a yearIf John wants to retire with $10,000 per month, how much principal is necessary to generate this amount of monthly income if the interest rate is 15%?tyou estimate that you will need about $80,000 to send your child to college in eight years.Y ou have about $35,000 now.If you can earn 20 percent per year,will you make it? At what rate will you just reach your goal?
- Mr. Fish wants to build a house in 10 years. He estimates that the total cost will be $170,000. How much should be put aside each year assuming his account earns 10% per annum?Kelvin has 45 years left until retirement and wants to retire with RM4 million. Assuming that his monthly salary is RM50,000, and he can earn an annual return of 9 percent on the money he invests monthly. If he saves a constant percentage of his salary, what percentage of his salary must he save each month?Suppose you wish to retire 30 years from today .You have determined that you would need $75,000 annually once you retire, which you will withdraw at the end of each year. You estimate that you will earn 6% on your retirement funds, compounded annually, and that you will live for 20 years after retirement. how much funds would you need on retirement to fullfill your goals above.?
- Ian would like to save $1,500,000 by the time he retires in 40 years. If he believes that he can achieve a 7% rate of return, how much does he need to deposit each year to archieve his goal?Carlo Aldric wants to have P40,000 per year for 15 years during his retirement. What amount would you need to have invested at retirement to reach this goal if you could invest your money and receive a 5 percent return?Jorge is considering an investment that will pay $4,650 a year for five years, starting one year from today. What is the maximum amount he should pay for this investment if he desires a rate of return of 9.0 percent