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Gina is interested in buying a house beside the university which she will rent to students. She expects to receive $1,500 a month in rental income (net of maintenance). Gina's real estate agent estimates that she will be able to sell the property for $300,000 at the end of 46 months. Gina wants a return of 0.4% per month. What is the most that she should pay for the property? Assume that she will purchase the house today and receive the first (beginning of month) rental payment today. What is the most that Gina should pay for the property today? $ (Round to the nearest dollar.) You are 30 years old today. You want to retire at the age of 55. You expect to live until age 85. You would like to have a monthly income of $12,000 per month in retirement. How much do you have to save per month during your working years in order to achieve your retirement goal? Assume end of period payments. Assume an annual interest rate of 2% in retirement and 3.5% during your working life. How much do you have to save per month during your working years in order to achieve your retirement goal? $ (Round to the nearest cent.) You are 40 years old and want to retire at age 65. Each year, starting one year from now, you will deposit an equal amount into a savings account that pays 6.9% interest. The last deposit will be on your 65th birthday. On your 65th birthday you will switch the accumulated savings into a safer bank account that pays only 4.4% interest. You will withdraw your annual income of $110,000 at the end of that year (on your 66th birthday) and each subsequent year until your 90th birthday. On that birthday you want to give $650,000 to your children. How much do you have to save each year to make this retirement plan happen? How much do you have to save per year during your working years in order to achieve your retirement goal? $ (Round to the nearest cent.) Gina is interested in buying a house beside the university which she will rent to students. She expects to receive $1,500 a month in rental income (net of maintenance). Gina's real estate agent estimates that she will be able to sell the property for $300,000 at the end of 46 months. Gina wants a return of 0.4% per month. What is the most that she should pay for the property? Assume that she will purchase the house today and receive the first (beginning of month) rental payment today. What is the most that Gina should pay for the property today? $ (Round to the nearest dollar.) You are 30 years old today. You want to retire at the age of 55. You expect to live until age 85. You would like to have a monthly income of $12,000 per month in retirement. How much do you have to save per month during your working years in order to achieve your retirement goal? Assume end of period payments. Assume an annual interest rate of 2% in retirement and 3.5% during your working life. How much do you have to save per month during your working years in order to achieve your retirement goal? $ (Round to the nearest cent.) You are 40 years old and want to retire at age 65. Each year, starting one year from now, you will deposit an equal amount into a savings account that pays 6.9% interest. The last deposit will be on your 65th birthday. On your 65th birthday you will switch the accumulated savings into a safer bank account that pays only 4.4% interest. You will withdraw your annual income of $110,000 at the end of that year (on your 66th birthday) and each subsequent year until your 90th birthday. On that birthday you want to give $650,000 to your children. How much do you have to save each year to make this retirement plan happen? How much do you have to save per year during your working years in order to achieve your retirement goal? $ (Round to the nearest cent.)
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Rental income Received Pm a IS00 NOg mon th s 46 months mon thiy Return O41 ar the end q 46... View the full answer
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