mariahbugg7
13.05.2021 •
Business
John is 28 years old and plans to retire at 67. He wants to have a fund at 67 that will let him spend $4,500 a month after retirement, and last for 45 years. Assume a continuous money flow. Answer the following. Round your answers (at the last step) to integers.
(a) Suppose that after his retirement John puts the money in a fund paying interest at an annual rate of 4.2%, compounded continuously. Then John will need $ for his retirement.
(b) Suppose that John starts to invest a fixed amount each month from now until he retires, in a fund that pays interest at an annual rate of 6.2%, compounded continuously. Then he should invest each month.
Solved
Show answers
More tips
- F Food and Cooking How to Make Shortcrust Pastry: Recipe and Tips...
- H Horoscopes, Magic, Divination Is there a 13th Zodiac Sign?...
- H Health and Medicine Want to Lose Weight? Gain Muscle without Damaging Your Health!...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
- H Health and Medicine Kinesiology: What is it and How Does it Work?...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
Ответ:
WASSSAPP
Explanation: