Business, 28.01.2020 07:31 alexwlodko

Suppose that a young engineer wants to plan for retirement. they want to retire at 60 years of age with enough invested in their retirement account to produce an annual interest income of $100,000 at an annual rate of return of 8% (note that the assumed rate or return on investment during retirement is less than prior to retirement because most retirees prefer safer investments). they plan to add a uniform sum of money to their retirement account annually. how much money should the engineer set aside each year to achieve their goals under the following scenarios: (modified from nell 4-28)
a. starting investing on their 23rd birthday and ending on their 59th birthday with a 12% rate of return on their retirement investments.
b. starting investing on their 23rd birthday and ending on their 59th birthday with a 15% rate of return on their retirement investments.
c. starting investing on their 23rd birthday and ending on their 59th birthday with an 8% rate of return on their retirement investments.
d. starting investing on their 30th birthday and ending on their 59th birthday with a 12% rate of return on their retirement investments.
e. starting investing on their 40th birthday and ending on their 59th birthday with a 12% rate of return on their retirement investments.
f. starting investing on their 50th birthday and ending on their 59th birthday with a 12% rate of return on their retirement investments.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 01:30

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?

Answers: 1

Answer

Business, 22.06.2019 06:40

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

Answers: 2

Answer

Business, 22.06.2019 17:00

Jillian wants to plan her finances because she wants to create and maintain her tax and credit history. she also wants to chart out all of her financial transactions for the past federal fiscal year. what duration should jillian consider to calculate her finances? from (march or january )to (december or april)?

Answers: 1

Answer

Business, 22.06.2019 19:00

12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill.

Answers: 1

Answer

You know the right answer?

Suppose that a young engineer wants to plan for retirement. they want to retire at 60 years of age w...

Questions