Make an equal annual deposit into retirement account

Assignment Help Business Economics

Reference no: EM131244805

You will probably need at least 2,000,000 dollars to retire. The retirement age for you will be at least 67 – at least that is the minimum age for social security. Assume you will make an equal annual deposit into a retirement account at the end of age 23 and will save until the end of age 67. (There are 45 years between these two ages). At an interest rate of 8%, how much do you need to save each year?

Reference no: EM131244805

Questions Cloud

Find the stackelberg equilibrium outputs-price and profits : Consider a homogeneoous-good Cournot oligopoly with 2 identical firms with C(q) = 0 and P(Q) = e-Q; for Q >0: Find the Stackelberg equilibrium outputs, price and profits (with firm 1 as the leader).

Explain management issue at your current place of employment : Identify a management issue at your current place of employment. If you are not currently employed, you can do a bit of research and find an issue that exists at another company.

What is optimal quantity for this patient to consume : Suppose that there's only one type of medical care ( office visits ) and that each visit costs $20. Consider now an insurance policy with a $100 deductible that pays for 80 percent of the consumer's medical costs after that. What is the optimal quant..

How can they be visualized graphically : What is the relationship between the opportunity cost of acommodity and the relative price of that commodity?How can they be visualizedgraphically?

Make an equal annual deposit into retirement account : You will probably need at least 2,000,000 dollars to retire. The retirement age for you will be at least 67 – at least that is the minimum age for social security. Assume you will make an equal annual deposit into a retirement account at the end of a..

What is the main point of the article : What is the main point of the article? - How does the author support his main claim? - Why is it important to inquire into the structure of human understanding?

Calculate the deciles and quintiles : Calculate the deciles and quintiles. The Kuznets’ ratio = What is the interpretation of the Kuznets’ ratio?

Determine the quantity of sand required : Assuming the average thickness of the completed island is 100 m, determine the quantity of sand required.

What is inductive and deductive reasoning : What is inductive and deductive reasoning? Which is usually used with quantitative research? What are the principles of ethical research and why are they important for the participants, researcher and affiliated university/organization to follow th..

User Account

All Pages