>> Financial Management
If you deposited the following amount per month (letters in your last name X $80) from your pay check from the time you graduate from school until you retire (at age 75) and your employer contributed an extra 6%, how much wealth would you have accumulated? (Be sure to include your age when you graduate). The annual interest rate you will earn should be = letters in your first name X 1.10%. B. Based on your final answers to A above, what would your retirement income be once you retired if you a. earned 5.5% and only lived off the earnings (did not draw down the principle-every month you took out the interest and left the initial amount to earn the same amount of interest-think simple interest) b. earned 5.5% and created an annuity to last until you were 90 years old (this means that by age 90 your balance should be equal to zero).