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
What are the benefits of investing via international mutual funds? Answer:  The benefits of investing via international mutual funds consist of: (a) Save transaction or info

Ken started college at the age of 18 with $63,450 already saved, because 18 years ago his saving account 7.25 per year.

Explain what is meant by a positive coefficient discretization in the context of valuing options using numerical PDE methods. What is the main benefit of using a positive coefficie

(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

Floating rate securities can be broadly divided into following two parts: Floating-rate securities that have constant quoted margin. Floating-rate sec

At the end of March, 20X6 the balances in the several accounts of Nitin & Company are as follows:

What are the characteristics of an efficient market? The term market efficiency denotes to the ease, speed, and cost of trading securities. In an efficient market the securitie

Under treasuries, there exist different types of securities like treasury bills, treasury notes, treasury bonds, inflation protection securities

'A' Priori Probability This is a probability computed by rationally examining existing information. A priori probability can most simply be explained as making a conclusion on

a) The combined two-firm concentration ratio of Motorola (approximately 17.5%) and Nokia (35%) is around 52.5% of the market. b) Up to 2 marks for correct definition: Market sha