2 items are filed under this topic.








I expect to retire in 12 years 
20090803 

From Polly: I expect to retire in 12 years. Beginning one month after my retirement, I would like to receive $500 a month for 20 years. How much must I deposit into a fund today to be able to do so if the rate of interest on the deposits is 12% compounded monthly? Answered by Stephen La Rocque. 





The benefits of saving for retirement 
20050311 

From Nick: A human resources department wants a report that shows its employees the benefits of saving for retirement. Produce a report that shows 12 predicted retirement account values for each employee  the values if the employee saves 5, 10, or 15% of his or her annual salary for 10, 20, 30, or 40 years. Assume that savings grow at a rate of 8% per year. Not really interested in answers, just the equations to solve the problems. Answered by Penny Nom. 


