Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Adele is planning for retirement

Adele is planning for retirement

Math

Adele is planning for retirement. She would like to have $45,000 in her hand at the beginning of her first year of retirement at age 65 to live on for the year. She estimates that the amount will have to grow by 7% every year to keep up with inflation. What APR (nominal rate per year) should her retirement account earn if it is compounded weekly. She plans to deposit $17,000 on her 40th birthday and plans to keep increasing the deposits by 4% every year and till her 64th birthday. She estimates her life expectancy to be 85, meaning she would like to have the last retirement payment on her 85th birthday? 

Purchase A New Answer

Custom new solution created by our subject matter experts

GET A QUOTE