Prof G is retired with $1,000,000 invested. He wants to take out $6,000 at the end of
Question:
Prof G is retired with $1,000,000 invested. He wants to take out $6,000 at the end of each month for the rest of his life. He earns 4.8% on his money. How long will the money last?
Prof G has $100,000 now and puts in $2,000 at the end of each month. He earns 6.6% on his money. How much money will he have in 10 years?
Prof G has $100,000 now and takes out $1,000 at the end of each month. He earns 10.0% on his money. How much money will he have in 10 years?
Prof G wants to save for a new boat that will cost $80,000 in 5 years. He can afford to put $1,250 into an investment at the beginning of each month. What rate of return must he attain to accomplish his goal?
Prof G wants to save for a new boat that will cost $80,000. He can afford to put $1,250 into an investment at the beginning of each month that earns 9.2%. How long will it take to accomplish his goal?
Prof G has won the lottery for $2,000,000. He may take the $2,000,000 now or take $125,000 at the beginning of the next 20 years. He feels he can safely earn 3.6% on his money. What should he do?