FNAN 303, Fall 2018, test 2, solutions
Find FV annuity PMT to fund an annuity due
2. K vli...
![Geography](/tpl/images/cats/geografiya.png)
FNAN 303, Fall 2018, test 2, solutions
Find FV annuity PMT to fund an annuity due
2. K vlian has nothing saved for retirement. He wants to receive $81,000 each year
000 each year for 5 years during
retirement. The first of these payments will be received in 4 years. Kynan can
ceived in 4 years. Kylian can earn a return of 11.90
percent per year. How much does Kylian need to save each year for
Uw much does Kylian need to save each year for 4 years to have exactly enough
to meet his retirement goal if he makes his first annual savings contribution
contributions are equal?
A. $68,634 (plus or minus $10).
B. $51,661 (plus or minus $10)
C. $61,335 (plus or minus $10)
D. $78,308 (plus or minus $10)
E. None of the above is within $10 of the correct answer
Step 1: Determine how much savings needs to be accumulated by the time Kylian retires (A)
Step 2: Determine how much needs to be saved each year (?B) to accumulate the amount identified in step 1
Note that N (the number of savings contributions) in the first part of the problem (savings) is the
"new time 0” in the second part of the problem (withdrawing)
![answer](/tpl/images/cats/otvet.png)
Answers: 3
Other questions on the subject: Geography
![image](/tpl/images/cats/geografiya.png)
![image](/tpl/images/cats/geografiya.png)
Geography, 23.06.2019 01:30, TwentyOnePawPrints21
What is the bill of rights listed in, order
Answers: 2
![image](/tpl/images/cats/geografiya.png)
Geography, 24.06.2019 02:30, wazzuphottie6112
What is most often given a value of zero to describe an object’s position on a straight line? displacement reference point distance ending location
Answers: 1
![image](/tpl/images/cats/geografiya.png)
Geography, 24.06.2019 11:00, braisly6605
Review the information in your data table. why is color often considered misleading for rock identification
Answers: 1
Do you know the correct answer?
Questions in other subjects:
![Konu](/tpl/images/cats/health.png)
Health, 25.02.2022 01:20
![Konu](/tpl/images/cats/obshestvoznanie.png)
Social Studies, 25.02.2022 01:20
![Konu](/tpl/images/cats/mat.png)
Mathematics, 25.02.2022 01:20
![Konu](/tpl/images/cats/himiya.png)
Chemistry, 25.02.2022 01:20
![Konu](/tpl/images/cats/himiya.png)
![Konu](/tpl/images/cats/istoriya.png)
![Konu](/tpl/images/cats/mat.png)
![Konu](/tpl/images/cats/mat.png)
Mathematics, 25.02.2022 01:20
![Konu](/tpl/images/cats/mat.png)
Mathematics, 25.02.2022 01:20