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2 items are filed under this topic.
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I expect to retire in 12 years |
2009-08-03 |
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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. |
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The benefits of saving for retirement |
2005-03-11 |
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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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