Calculate annual payments into a savings account, Financial Management

Calculate annual payments into a savings account:

Mr. Jones intends to retire in 20 years at the age of 65. As, yet he has not provided for retirement income, and he wants to set up a periodic savings plan for this. If he makes equal annual payments into a savings account that pays 4 per cent interest per year, how large must his payment be to ensure that after retirement he will be able to draw $30,000.00 per year from this account until he is 80?

Posted Date: 2/12/2013 1:52:21 AM | Location : United States







Related Discussions:- Calculate annual payments into a savings account, Assignment Help, Ask Question on Calculate annual payments into a savings account, Get Answer, Expert's Help, Calculate annual payments into a savings account Discussions

Write discussion on Calculate annual payments into a savings account
Your posts are moderated
Related Questions
Explain how a firm determines the optimal level of current assets. The optimal level of working capital is defined by finding the amount that balances the requirement for liquidi

What are the advantages and the disadvantages of a new stock issue? A new stock issue increases funds and decreases the riskiness of the firm.  It as well tends to send a negat

Bonds with Warrants: Warrants are usually attached with the bonds or preference shares to attract the investor. The objective is to induce the potential investors to subscribe

Memorandum Memo to: Blackwater plc Main Board. Subject: Proposed Pollution Control Project. From: Lower down the hierarchy. Date: That'll be the day. On purely non-


What are retained earnings?  Why are they important? Retained earnings denote the sum of all the earnings obtainable to common stockholders of a business throughout its whole h

Accounting Framework - Convention of Materiality Materiality means relative significance. In other words whether a matter should be disclosed or not in the financial statement

(a) Find the nominal rate of interest j compounded quarterly which is equivalent to a 5% e ective rate of interest. (b) Which one will deliver a higher future value on a deposit

NPV and Other Criteria Waddington International Inc. has $20 million to invest. It is considering whether to build a new factory in Western Canada. The land and the building wil

Why would it be useful to examine a country’s balance of payments data? Answer:  It would be helpful to observe a country’s BOP for at least two reasons. First, BOP offers detail