What annual payment must you make in the plan

Reference no: EM132078519

Question: You are saving to retire with $1,000,000 thirty years from today. You can start the savings plan with a $5,000 deposit today. Additionally, you can deposit $7,500 ten years from today, $10,000 twenty years from today, and $15,000 upon retirement. Finally, you need to set up an ordinary annuity plan to reach your goal. What annual payment must you make in the plan to have $1,000,000 upon retirement if you can invest at 12%?

Reference no: EM132078519

Questions Cloud

Empirical demand function for good : The empirical demand function for good X is estimated in log-linear form as ln ˆQ - 11.74209 - 1.65 ln P + 0.8 lnM - 2.5 lnPY

Find the future value using given information : To save for her newborn son's college education, Lea Wilson will invest $1,000 at the end of each year for the next 20 years. The interest rate is 10%.

Presentation on Limitation and Elimination of Women in Sport : Topic is "Limitation & Elimination of Women in Sport" and student's part is "Sarah Attar" she is a Saudi women in sport, she is one of the first Saudi women

Demand curve for haircuts at terry barnyards hair design : The demand curve for haircuts at Terry barnyards Hair Design is P=20-0.20Q Where Q is the number ) The demand curve for haircuts at Terry barnyards Hair Design

What annual payment must you make in the plan : You are saving to retire with $1,000,000 thirty years from today. You can start the savings plan with a $5,000 deposit today.

What would the loan balance be in five years : Say that you purchase a house for $180,000 by getting a mortgage for $160,000 and paying a $20,000 down payment. If you get a 20-year mortgage with a 8 percent.

How can mass hysteria be prevented within the population : What should be the characteristics of this information's release to the public (consider medium, frequency, and timeliness)?

What is the number of years from today : Sasha owns two investments, A and B, that have a combined total value of 33, 100 dollars. Investment A is expected to pay 21, 900 dollars in 7 year(s).

What constraints would be reasonable to put on the weights : Say you are given 20 stocks. You need to create an optimal portfolio. The weights need to sum up to 100%. What constraints would be reasonable to put on.

User Account

All Pages