Calculate amount will need to have saved on the day retires

Assignment Help Financial Accounting
Reference no: EM132920791

Your friend is celebrating her birthday and wants to start saving for retirement. She has provided you with the following information:

Years until retirement: 30

Amount to withdraw each year in retirement: $75,000

Years to withdraw in retirement: 25

Interest rate while saving: 7%

Interest rate in retirement: 4%

Saved today: $50,000

Problem1 : The first deposit will be made one year from today, and the last deposit will be made on the day she retires. Her first withdrawal will not take place until one year after she retires and she plans to spend her entire nest egg. Calculate the amount she will need to have saved on the day she retires. (Enter a positive value and round to 2 decimals)

Reference no: EM132920791

Questions Cloud

Calculate present value today of annuity for april stigum : April Stigum will receive a 20-year annuity of $10,000 per year. Assuming a required rate of return of 7%, calculate the present value today of her annuity.
Solve the amount will need to deposit today to reach : She plans to spend what she has currently saved today on a new car. Calculate the amount she will need to deposit today to reach her retirement goal.
How is measuring video success on youtube : How is Measuring Video Success On YouTube Different From Measuring Success on other Platforms?
Project management software package : As part of your company's effort to select a project management software package, you have been asked to approach several other companies
Calculate amount will need to have saved on the day retires : The first deposit will be made one year from today,Calculate the amount she will need to have saved on the day she retires.
Developing a community based tourism : What are some of the challenges of community based tourism while developing a community based tourism in the Pacific and what are some of the recommendations to
Role in shaping health insurance : Let's take a closer look at the past, present, and future of managed care. For your main Discussion post, identify and describe what you feel are important forc
Calculate the net present value of the investment of company : The firm estimates that investment will pay.The risk-adjusted discount rate required on this project is 9%, calculate the net present value of this investment.
Information pertaining to employment law : Consider your knowledge base of information pertaining to employment law prior to the start of this course.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine What are the cash flows of the project in years

Compute What are the cash flows of the project in years 0 to 6? The new washer will have zero salvage value after 6 years, and old washer is fully depreciated

  Should the united states give up its gaap

“The IFRS standards are considered to be more principles based than the U.S. rules-based GAAP.” Comment on the implications of this statement, including the legal implications. U.S. GAAP has been considered by many to be the best GAAP in the world...

  Determine x for alex

Equal payments of $ X at the end of months 6, 9 and 12. If the original debt was $10000 and the interest rate is at j4=5.5%. Determine X.

  Why should have to learn the direct write-off method

Why should we have to learn the direct write-off method of recording bad debts when we cannot use it with the accrual basis of accounting.

  How do demonstrate what required rate of return on project

Determine What is the required rate of return on the project? (Do not round intermediate calculations. Enter your answer as a whole percent.)

  What delivery as fob shipping point vs fob destination

What are the differences between delivery as FOB shipping point and FOB destination? From a business perspective, which freight option do you think a seller

  How much is venice company equity

One month after the loan was obtained, Venice Company paid AB Finance P300,000 plus interest. How much is Venice Company equity

  At what production level would x company be indifferent

X Company currently makes 2,300 units of a unique part, At what production level would X Company be indifferent between making the part and buying it?

  Find how much would the value of the company change

By how much would the value of the company change if it accepts the replacement project? The company's tax rate is 20 percent and cost of capital is 10 percent.

  Determine the deferred income tax expense

Determine the deferred income tax expense or benefit for the year - if the amount is a benefit please put brackets around it

  What income and losses do redfern-blackfoot-rod-kurt report

Redfern Corporation, a calendar year taxpayer, has been an S corporation for several years. Rod and Kurt each own 50% of Redfern’s stock. On July 1 of the current year (assume a non-leap year), Redfern issues additional common stock to Blackfoot Corp..

  Journalize the purchase and the receipt of interest

Journalize the purchase and the receipt of interest. Assume that no interest has been accrued. Sandhill Corporation purchased debt investments for $54,000

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd