retire at age 60. Furthermore, you would like to have a retirement fund from which you can draw an income of $50 comma 000 per yeardash forever! How much would you need to deposit each month to do this? Assume a constant APR of 7% and that the compounding and payment periods are the same.

retire at age 60. Furthermore, you would like to have a retirement fund from which you can draw an income of $50 comma 000 per yeardash forever! How much would you need to deposit each month to do this? Assume a constant APR of 7% and that the compounding and payment periods are the same.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Suppose you are 35 years old and would like to
retire at age 60. Furthermore, you would like to
have a retirement fund from which you can draw
an income of $50 comma 000 per yeardash
forever! How much would you need to deposit
each month to do this? Assume a constant APR
of 7% and that the compounding and payment
periods are the same.

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Suppose you are 30 years old and would like to retire at age 60. Furthermore, you would like to have a retirement fund from which you can draw an income of $50,000 per year–forever! How much would you need to deposit each month to dothis? Assume a constant APR of 8% and that the compounding and payment periods are the same.
Suppose you are 30 years old and would like to retire at age 60. Furthermore, you would like to have a retirement fund which you can draw an income of $1250,00 per year- forever! How much would you need to deposit each month to do this? Assume a constant APR of 6% and that compounding and payment periods are the same. To draw $125000 per year there must be $____ in your saving account when you retire.
Suppose you are 35 years old and would like to retire at age 65. Furthermore, you would like to have a retirement fund from which you can draw an income of $50,000 per year–forever!How much would you need to deposit each month to dothis? Assume a constant APR of 8% and that the compounding and payment periods are the same. To draw $50,000 per year, there must be $ in your savings account when you retire. You can reach your goal by making monthly deposits of $
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Suppose you are 30 years old and would like to retire at age 65. Furthermore, you would like to have a retirement fund from which you can draw an income of $100,000 per year-forever! How much would you need to deposit each month to do this? Assume a constant APR of 5% and that the compounding and payment periods are the same. To draw $100,000 per year, there must be $in your savings account when you retire. (Do not round until the final answer. Then round to the nearest integer as needed.) You can reach your goal by making monthly deposits of $ (Do not round until the final answer. Then round to two decimal places as needed.)
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