Question: How do I figure out the amount needed for retirement? FV / Amount Saved for Retirement $8,278,362 Current Retirement Assets Current Value (PV) Rate of

How do I figure out the amount needed for retirement?

FV / Amount Saved for Retirement $8,278,362 Current Retirement Assets Current Value (PV) Rate of Return Term 20 Years Periods per Year 12 Value 20 Years Amount Needed for Retirement $5,493,780 Penison One $569,188 9% 20 1 $3,189,963 Interest Rate with Inflation 4% Pension Two $697,352 9% 20 1 $3,908,247 Nper 10.45 IRA Rollover $130,156 9% 20 1 $729,448 IRA Mary $29,300 9% 20 1 $164,209 NPV = F / [(1+ I) ^n] IRA Robert $34,700 9% 20 1 $194,473 PV = CF / (1 + r)^ t Savings $50,950 3% 20 1 $92,021 Total $1,511,646.00 $8,278,362 Mary Penison Plan $1,266,540 Mary IRA $159,456 Robert IRA $34,700 Mary IRA at 70.5 $286,956 Robert IRA at 70.5 $267,200 Mary and Robert Contributions $5,000 each yearly Mary and Robert Funeral/Esate Cost $260,000 Total Cash Inflow $211,617 Total Cash Outflow $198,333 Surplus Balance $13,284 Total Cash and Equivalents $76,950

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!

1. Calculate the cost of each capital component, after-tax cost of debt, cost of preferred, and cost of equity with the DCF method and CAPM method. 2. What do you estimate the company?s WACC? Please...

CoursHeroTranscribedText: Question 1 The daily volume of a brokerage company follows a normal distribution. The director wants to estimate the daily volume negotiated. a) What size should have a...

Complete the following problems from Chapter 12 in Financial Management: Theory and Practice : Chapter 12: Topics: Additional Funds Needed, Forecasted Statements and Ratios, Financing Deficits...

Pretty simple just answer the questions below its only 2 of them attached are the reference materials you'll need to site apa style format from Chapter 11: 11.2 #2 (p. 276) Also answer this question...

9-17a Tutorial 9 Practice Review Assignment Data File needed for the Review Assignments: Restaurant.xlsx Sylvia has some new figures for the business plan for Jerel's. She has received slightly...

Adam has just graduated, and has a good job at a decent starting salary. He hopes to purchase his first new car. The car that Adam is considering costs $50,000. The dealer has given him three payment...

Please read the attachment chapters and answer the following questions with at least 50 words. Depreciation discussion What are the various methods of determining depreciation and amortization...

Your client, a man, is currently 35 year old and he wants to retire when he is 65 years old (exactly 30 years from now). He would like his retirement income to be equivalent to $6,000 per month,...

I am needing help with my assignment, I have started the assignment on the Excell worksheet that has been uploaded. Of the other two word cocuments one is the steps to completing the worksheet and...

Hello I need answer 1,3,6,7,9,11,14,17 & 21 Pls? JWCL543_ch14_01-06.qxd 6/4/11 8:36 AM Page 1 B EXERCISES 2 E14-1B (Classification of Liabilities) Presented below are various account balances of...

Assume that 1 year has passed since you entered into the transaction described in problem 4. Assume that the new spot exchange rate is CHF1.45/$ and that UBS is now quoting the following interest...

The Global Growth Fund is a load fund with a 6 percent front load fee. It started the year with a net asset value (NAV) of $16.50. During the year the fund distributed $1.05, and at the end of the...

10.35 Calculate I o in Fig. 10.30 (for Practice Prob. 10.10) using mesh analysis.

Using the moving average method of perpetual inventory costing and the information presented in E2-6, compute the cost of materials used and the cost of the July 31 inventory. (Round unit prices to...

Simple Machines Ramps for the disabled are used because a large weight w can be raised by a relatively small force equal to w sin a plus the small friction force. Such inclined planes are an example...

The total wages and salaries earned by all employees of Cutler Manufacturing Company during the month of March, as shown in the labor cost summary and the schedule of fixed administrative and sales...

In February 2006 former senator Warren Rudman of New Hampshire completed a 17-month investigation of an $11 billion accounting scandal at Fannie Mae (a major enterprise involved in home mortgage...

Show that the worst-case running time of MAX-HEAPIFY on a heap of size n is (lg n). (Hint: For a heap with n nodes, give node values that cause MAX-HEAPIFY to be called recursively at every node on a...

Design a minimum-mass symmetric three-bar truss (the area of member 1 and that of member 3 are the same) to support a load P, as was shown in Fig. 2.9. The following notation may be used: Pu = P cos...

For the data in Exercise 7: a) How many degrees of freedom does the t-statistic have? b) How many degrees of freedom would the t-statistic have if the sample size had been 100?

For the data in Exercise 8: a) How many degrees of freedom does the t-statistic have? b) How many degrees of freedom would the t-statistic have if the sample size had been 5?

A random sample of 20 purchases showed the following amounts (in $): 39.05 2.73 32.92 47.51 37.91 34.35 64.48 51.96 56.95 81.58 47.80 11.72 21.57 40.83 38.24 32.98 75.16 74.30 47.54 65.62 The mean...