Planning for your retirement

Assignment Help Financial Management

Reference no: EM131045231

You are planning for your retirement and have decided the following: you will retire in 35 years and would like to have $8,000 per month as retirement income for 30 years of retirement. You have access to an account that earns a 7% rate of return. How much will you need to have when you retire to be able to withdraw the desired $8,000 per month during your years of retirement? (Round your answer to the nearest cent)

Reference no: EM131045231

Questions Cloud

Tiller construction corporation and nadler : Ronald Nadler was a resident of Maryland and the CEO of Glenmar Cinestate, Inc., a Maryland corporation, as well as its principal stockholder. Glenmar leased certain space in the Westridge Square Shopping Center, located in Frederick, Maryland, an..

Stock repurchase announcement will increase stock price : Additional problem: The equity of a certain company has a market value for $3 million. It currently has 300,000 shares outstanding, and a book value of equity of $1,095,000. If management estimates that a stock repurchase announcement will increase s..

Draw the relationships between the tables : Draw the relationships between the tables. Assume that a DEPARTMENT does not need to have an EMPLOYEE, but that every EMPLOYEE is assigned to a DEPARTMENT.

Which is more difficult to model the process or the entity : Simulations are essential models for processes with a mathematical representation of the entity behavior. Which is more difficult to model: the process or the entity behavior?

Planning for your retirement : You are planning for your retirement and have decided the following: you will retire in 35 years and would like to have $8,000 per month as retirement income for 30 years of retirement. You have access to an account that earns a 7% rate of return. Ho..

Modular architecture for high-performance packet switching : I have uploaded paper and desired output figure. You have to complete fig 5 and fig 11 in that paper. Values are there in respective sessions. Paper - The Knockout Switch: A Simple, Modular Architecture for High-Performance Packet Switching

Why the given situation represents a risk : Auditing ACCT 3000 - Identify and discuss why the above situation represents a risk and By applying auditing knowledge, identify the main account or group of accounts affected in the audit plan by the risks identified in (a).

Green & freedman baking company : Green & Freedman Baking Company (Green & Freedman) was a family-owned Massachusetts corporation that produced and sold baked goods. The terms of a collective bargaining agreement required Green & Freedman Baking Company to make periodic payments o..

The loan calls for equal annual payment : Prepare an amortization schedule for a 10-year loan of $150,000. The interest rate is 8% per year, and the loan calls for equal annual payment. How much interest is paid in the eighth year? How much total interest is paid over the life of the loan?

User Account

All Pages