- A B C D And Each Need An Answer Maybe Some Sort Of Work Or Sentence Too 1 (40.98 KiB) Viewed 27 times
- A B C D And Each Need An Answer Maybe Some Sort Of Work Or Sentence Too 2 (40.98 KiB) Viewed 27 times
A, B, C, D and each need an answer, maybe some sort of work or sentence too.
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A, B, C, D and each need an answer, maybe some sort of work or sentence too.
A, B, C, D and each need an answer, maybe some sort of work or sentence too.
Please answer the following questions recording your answer beside the letter identifying the question Answers С D Questions: Mr and Mrs. Smith plan to have their daughter's college education fully funded at the end of 18 years from today. They plan to invest annually at the end of each year to reach the desired dollar amount The Smith's estimate that they will earn 6% on all invested monies during the 18 years. The cost of college today is $30,000 annually add is expected to increase by 3% annually over each of the next 18 years. Part A. What is the expected cost of one year of college 18 years from today? Write this value beside letter A above Part B. Begin by multiplying your answer in Part A by 4 to approximate the cost of four years of college. How much will the Smith's need to invest at the end of each year for the next 18 years to reach what you approximate the cost of four years of college to be? Write this value beside letter above Part C. The Smiths will each be 45 years old when they are finish saving for college. They will then begin to save for retirement which is expected to begin at age 65 (20 years after completing the college funding payoff). The Smith's expect to need to withdraw $85,000 annually, from their retirement investment account, during each of their 25 retirement years. During these retirement years (Age 65-90) the Smiths expect all invested retirement funds will earn a 4% rate of return During the 20 investing for retirement years (age 46 - 65) the Smiths expect to earn a 7% rate of return on all invested monies. Remember, all invested monies. At age 46 when their retirement savings years begin, the Smiths will have $100,000 already accumulated (invested in a retirement account from employer contributions. This amount will grow at 7% for 20 years up to the beginning of retirement How much Will the Smith's need in their retirement account when their retirement years (age 65) begins? Write this value beside letter C above. Part D. Given the total amount needed when they reach age 65 and given the amount that is accumulated at age 65, how much will the Smith's need to Invest at the end of each year for years 46.65 (20 years) so that they reach their goal the value you calculated in Part C). Remember that they begin Write this value beside letter D above
Please answer the following questions recording your answer beside the letter identifying the question Answers С D Questions: Mr and Mrs. Smith plan to have their daughter's college education fully funded at the end of 18 years from today. They plan to invest annually at the end of each year to reach the desired dollar amount The Smith's estimate that they will earn 6% on all invested monies during the 18 years. The cost of college today is $30,000 annually add is expected to increase by 3% annually over each of the next 18 years. Part A. What is the expected cost of one year of college 18 years from today? Write this value beside letter A above Part B. Begin by multiplying your answer in Part A by 4 to approximate the cost of four years of college. How much will the Smith's need to invest at the end of each year for the next 18 years to reach what you approximate the cost of four years of college to be? Write this value beside letter above Part C. The Smiths will each be 45 years old when they are finish saving for college. They will then begin to save for retirement which is expected to begin at age 65 (20 years after completing the college funding payoff). The Smith's expect to need to withdraw $85,000 annually, from their retirement investment account, during each of their 25 retirement years. During these retirement years (Age 65-90) the Smiths expect all invested retirement funds will earn a 4% rate of return During the 20 investing for retirement years (age 46 - 65) the Smiths expect to earn a 7% rate of return on all invested monies. Remember, all invested monies. At age 46 when their retirement savings years begin, the Smiths will have $100,000 already accumulated (invested in a retirement account from employer contributions. This amount will grow at 7% for 20 years up to the beginning of retirement How much Will the Smith's need in their retirement account when their retirement years (age 65) begins? Write this value beside letter C above. Part D. Given the total amount needed when they reach age 65 and given the amount that is accumulated at age 65, how much will the Smith's need to Invest at the end of each year for years 46.65 (20 years) so that they reach their goal the value you calculated in Part C). Remember that they begin Write this value beside letter D above
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