How much will you be contributing a month at the age of 55

Assignment Help Finance Basics

Reference no: EM133558064

9.) If you start contributing to your retirement account at the age of 18 with $25 a month and you increase your contributions by $20 each year, how much will you be contributing a month at the age of 55?

10.) Retirement Options, At age 25, you start work for a company and are offered two retirement options.

Retirement Option1: When you retire, you will receive a lump sum of $25,000 for each year of service. How much will you have if you retire at age 65? How much will you have if you retire at age 55?

Retirement Option 2: When you start to work, the company deposits $10,000 into an account that pays a monthly interest rate of 2%, and interest is compounded monthly. When you retire, you get the balance of the account. How much will you have if you retire at age 65? How much will you have if you retire at age 55?

Reference no: EM133558064

Questions Cloud

Which stocks should msi now buy : Assuming the expected returns of the ten stocks do not change, which stocks should MSI now buy

What is the present value of $800 to be received : What is the present value of $800 to be received 9 years from now discounted back to the present at 12 percent? (Round to the nearest cent.)

Is there any relevant history of the product and its design : What is the function of the product? What is the industry worth ($)? Is there any relevant history of the product and its design?

What is the problem your peer identified and the reason : what is the problem your peer identified and the reason it is a problem? Then, consider what parts of the section were particularly persuasive.

How much will you be contributing a month at the age of 55 : If you start contributing to your retirement account at the age of 18 with $25 a month and you increase your contributions by $20 each year

What you know now about that sector : what you know now about that sector/industry/sub-industry and how you think it will emerge in future years? Please include specific issues and effects

What is the present value of this? investment : these investments sell for ?$1,252 in return for which you receive ?$5,000 in 26 years. What is the rate of return investors earn on this investment if they buy

Review the procedure for commonwealth procurement : List five key inclusions of a contract. Review the procedure for commonwealth procurement.

What treatments are most effective for patients : What treatments are most effective for patients with extensive trauma history? What symptoms be co-occurring in relation to PTSD vs schizophrenia for patient?

User Account

All Pages