User Account

All Pages

Shortfall or excess in retirement account

Assignment Help Finance Basics
Reference no: EM133003414

Mike currently 35, has $15,000 saved for retirement. He is currently saving $450 at the beginning of every month and his employer matches his total savings contribution on a monthly basis. Mike projects that he could earn 7% on his savings. He plans to retire at 65 and expects to live until age 90. His current expenditure on basic needs at the beginning of every month is $2200 every month which is expected to increase with inflation of 4%

How much would be shortfall or excess in his retirement account?

Reference no: EM133003414

Questions Cloud

Identify reporting priority of the four forms of reports : Identify reporting priority of the four forms of reports in this case (You can use 'more formal', 'formal', 'less formal', 'informal' to categorize accounts)
Show the yen values of the interest paid : Kato company needs one year loan of about Yens 80M. The company can borrow in Japan at 10.8% pa but is considering taking out sterling loan which could cost 6.5
What the cost per unit for materials using the fifo method : Equivalent units have been calculated to be 18,700 units for materials. What the cost per unit for materials using the FIFO method
Importance in the framework of financial modelling : a) Introduce the notion of "inflation" and explain the difference between nominal interest rates, real interest rates and inflation rates.
Shortfall or excess in retirement account : Mike currently 35, has $15,000 saved for retirement. He is currently saving $450 at the beginning of every month and his employer matches his total savings cont
Provide the journal entries with explanation : Provide the journal entries with explanation. December 14 Received a cheque from Gérard D. Laflac Inc. to settle the December 6 invoice. (no. 1011)
What other factors you need to consider in decision : Discuss what other factors you need to consider in your decision.
Construct annual incremental operating cash flow statements : Construct annual incremental operating cash flow statements for the next 4 years.
How the expenditure on projects a and b would be dealt : Sunny plc acquired a piece of machinery at the beginning of its financial year in January 2015 for Rs 250,000 to be used in the business for 7 years. It is the

Reviews

Write a Review

Finance Basics Questions & Answers

  Determining the maximum lifetime cap

The index for the rate adjustments are as follows: 3%,4.5%, 6%,8%. The margin is 3%. The annual cap is 2% and the maximum lifetime cap is 8%.

  Expected return of an investment in the capital markets

According to CAPM, the expected return on a risky asset depends on three components. Describe each component

  Explain capital budgeting providing decision

Explain Capital budgeting providing decision based on net present value

  Find the price of a 1-month put option

DIY is trading at $550 per share. The stock price will either increase by 5% or decrease by 15% in the first month. If the price increases in the first month

  A stock has an expected return of 10 what is its beta

a stock has an expected return of 10. what is its beta? assume the risk-free rate is 7 and the expected rate of return

  Confidence interval estimate of the proportion

A shoe company checks police records on 1200 randomly selected auto accidents and notes that teenagers were at the wheel in 180 of them. Construct a 90% confidence interval estimate of the proportion of shoe accidents that involve teenagers.

  What is a capitalization rate

If investors buy properties based on expected future benefits, what is the rationale for appraising a property based on current cap rates without making any income or resale price projections?

  Clculate performance measures of each of funds a b and c

the following data are available relating to the performance of csf equity fund and the market portfolionbspfund afund

  What is current yield-golden knughts

The Golden Knughts' Bonds currently sells for $1048. They have a 9-year maturity, 6.25 percent coupon rate and a par value of $1000. What is their current yield

  Why do creditors use the total debts to assets ratio

Why do creditors use the total debts to assets ratio? What do the numbers tell them?

  Motivation personality and perception are all tied to

motivation personality and perception are all tied to consumer behavior in various ways such as brand personality

  Issuing convertible dentures

The investment banking firm that they were referred to thinks that they can issue convertible debentures with the following characteristics:

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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