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tk-30-000-end-month-20-years-q91028631

Question

Answer Please

Expert Answer

A. The fund you will need when you retire in 30 years to provide the 20-year, Tk.30,000
retirement annuity is amounting to Tk. 3,108,738.56.

B. The monthly deposit to be made at the beginning of each month for 30 years to
accumulate the retirement fund is Tk.2,028.42

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Q:

You plan to retire in exactly 20 years. Your goal is to create a fund that will allow you
to receive $20,000 at the end of each year for the 30 years between retirement and
death (a psychic told you would live exactly 30 years after you retir). You know that
you will be able to earn 11% per year during the 30-year retirement period. How
large a fund will you need when you retire in 20 years to provide the 30-year,
$20,000 retirement annuity

A:

See answer

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Q:

Maisarah has just completed her STPM and has received anacademic award for
RM5,000. She would like to deposit the money inan interest earning account until
she graduates from UTHM which arefour years from now. In her search for the
highest interest earningaccount, she has narrowed the list down to the following two
banks:Bank A: pays 9 percent interest compounded annually Bank B: pays 8percent
interest compounded semiannually. Identify which bank...

A:

See answer

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