Survey of College Math Retirement Planning Project Name Overview: In this project you are going to...

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Survey of College Math Retirement Planning Project Name Overview: In this project you are going to determine the amount of money needed at retirement and the investment requirements needed to meet that goal. All work must be shown for credit!. (Part V = 8 points, all other questions = 7 points each) I. Estimate Nest Egg: Assuming a 3% interest rate, use the Payout Annuity formula to determine your required nest egg (amount needed at retirement) to be able to withdraw $2500/month for 20 years. II. Calculate Investment Requirements: You have 40 years until you can retire and have found an annuity paying 3% per month. How much will you need to deposit each month for the next 40 years to have your required nest egg (part I above)? III. Interest: Determine the amount of your nest egg that is earned interest. IV. Cost of postponing: a) If you decided to put off investing for 10 years, how much would you have after 30 years of investing, assuming you made the same investment calculated in part II? Survey of College Math Retirement Planning Project Name Overview: In this project you are going to determine the amount of money needed at retirement and the investment requirements needed to meet that goal. All work must be shown for credit!. (Part V = 8 points, all other questions = 7 points each) I. Estimate Nest Egg: Assuming a 3% interest rate, use the Payout Annuity formula to determine your required nest egg (amount needed at retirement) to be able to withdraw $2500/month for 20 years. II. Calculate Investment Requirements: You have 40 years until you can retire and have found an annuity paying 3% per month. How much will you need to deposit each month for the next 40 years to have your required nest egg (part I above)? III. Interest: Determine the amount of your nest egg that is earned interest. IV. Cost of postponing: a) If you decided to put off investing for 10 years, how much would you have after 30 years of investing, assuming you made the same investment calculated in part II?