Find the monthly contributions needed to meet the retirement

Assignment Help Finance Basics
Reference no: EM132605124

Dennis is aged 45 and is planning to retire at 65 year of age. He estimates that he needs $480,000 to provide for his retirement.His current superannuation fund has a balance of $60,000 and is delivering 7%p.a. compounded quarterly. Find the monthly contributions needed to meet the retirement lump sum target.

Reference no: EM132605124

Questions Cloud

How much micol co ltd report as cost of goods manufactured : Micol Co. Ltd's, How much would Micol Co. Ltd report as cost of goods manufactured for the year ending June 30, 2020? Show your working.
Discuss the external factors that put pressure : You are the food and beverage director of a four-star city center hotel. Following refurbishment and recent changes of restaurant concept
How allocate service department costs using direct method : Service department cost allocation, Allocate service department costs using the reciprocal method. Allocate service department costs using the direct method.
Account to accumulate to a current balance : Determine how long did it take for the account to accumulate to a current balance of $23,414.44 and therefore how old are you now.
Find the monthly contributions needed to meet the retirement : Find the monthly contributions needed to meet the retirement lump sum target.
Briefly explain the process of asset allocation : Briefly explain the process of asset allocation?
What are the various risks that jet airways is facing : Jet Airways, which commenced operations on May 5, 1993, has established its position as a market leader in India.
Explain what savings would available to better home products : Explain What savings would be available to Better Home Products if East Division bought the component internally rather than externally?
Explain why the functions assigned to the receptionist : Granger is a privately owned incorporated business that operates a garage which repairs and services motor vehicles.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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