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I expect to retire in 12 years 2009-08-03
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 2005-03-11
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.



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