What is the future value of inheritance at retirement

Assignment Help Financial Management

Reference no: EM13850460

You believe you will need to have saved $500,000 by the time you retire in 40 years in order to live comfortably. You also believe that you will inherit $100,000 in 10 years. (Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 2 decimal places.)

If the interest rate is 6% per year, what is the future value of your inheritance at retirement?

Future value $

How much must you save each year to meet your retirement goal? (Assume you save your entire inheritance. This is the amount needed in addition to the inheritance.)

Annual savings required $

Reference no: EM13850460

Questions Cloud

Write reflection paper discussing your scores on the scales : Write a short paper 3-5 page reflection paper discussing your scores on the scales and what you learned about yourself. Explain how this behavior can hinder you in the future if not mitigated now; how might this behavior effect your organization; ..

Design a marketing plan for 3m australia : Marketing mix strategy by looking at the various marketing theories taught this term. The challenge is to think outside the box and create a plan that is feasible for the brand - Marketing Plan for a company - the specific case study.

Understand and comment on possible forecast errors : Provide an understanding and background discussion on the methodology of forecasting.

What is the future value of inheritance at retirement : You believe you will need to have saved $500,000 by the time you retire in 40 years in order to live comfortably. You also believe that you will inherit $100,000 in 10 years. If the interest rate is 6% per year, what is the future value of your inher..

Explain specific and aggregate stop loss : What does it mean to self-insure the WC coverage? Explain Specific and Aggregate Stop Loss.

Paper on a community health assessment for program planning : Develop an 8-10 page paper on a community health assessment for Program planning, including the benefits of incorporating components of various Approaches to conducting a needs assessment

About the annual inflation rate : Assume a country has an official inflation rate of 130% per month. What was the annual inflation rate?

Describe the major trends-liquidity ratios exhibit : Describe the major trends that Procter and gambles liquidity ratios exhibit, and provide an opinion on what this means to the company. Describe how this company is doing relative to its industry (company your company’s ratios to the industry’s ratios..

User Account

All Pages