Question: can someone help me with these problems ? thanks [25 points] In planning for her retirement, Ms. Johmnson instructed her employers to start her investment

 can someone help me with these problems ? thanks [25 points]

can someone help me with these problems ? thanks

[25 points] In planning for her retirement, Ms. Johmnson instructed her employers to start her investment account with $7000 a year starting at the end of year 1 of her employment. She expects an annual bonus each year, so she asked her emplyers to increase her investment by $2500 every year starting in year 2. Ms. Johnson plans to work for 40 years. If these funds are invested in a retirement account that attracts an interest rate of 7% per year: Calculate the present worth of Ms. Johnson's 40 year investment Calculate the Future worth of this investment If Ms. Johnson retires from her job after 40 years of work and decides to invest all her retimenet money in a low risk account that attracts an interest rate of 3% per year compounded monthly, how much equal withdrawals can she take from the account every month for 30-years

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!