What price can you afford to buy

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Reference no: EM131952915

Required: Solve these question in Microsoft Excel

1. You want to retire on the day you have $1,000,000 is your savings account. You expect to earn 4 percent compounded monthly, on your money during your retirement. Your plan is to withdraw $4500 a month as retirement income from this account. How many years can you be retired until you run out of money?

2. You are able to pay mortgage payments of $675 a month for thirty years. the interest rate is 9.5 percent, compounded monthly, What price can you afford to buy if you have $5000 cash available as a down payment.

Note: Solve these question in MS Excel

Reference no: EM131952915

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