Suppose Connie is now at the age of 34 and starts savings for her retirement at…

Suppose Connie is now on the age of 34 and begins financial savings for
her retirement on the age of 65. She desires to have the ability to withdraw
$300,000 from her financial savings account on every birthday after her
retirement, with the primary withdrawal on her 66th birthday and the
final withdrawal on her 88th birthday.

(a) She is contemplating becoming a member of a financial savings plan supplied by
Insurance coverage Firm A, which provides her a return of 10% p.a.
all through all the interval. Assume that she desires to make equal
deposit into the financial savings account on every of her birthdays, with the
first deposit on her thirty fifth birthday and the final deposit on her sixty fifth
birthday. How a lot cash does she must deposit yearly into
the financial savings account with the intention to meet her retirement plan?

(b) Suppose Insurance coverage Firm B provides Connie one other financial savings
plan. In keeping with this financial savings plan, she is required to make a
mounted month-to-month deposit into her account, the place she may earn 15%
EAR. On her retirement date, all her cash within the financial savings account
can be transferred to a extra liquid account paying 6% EAR, from
which she may withdraw her cash freely as she likes.

To reap the benefits of the liquidity of her account, Connie is
planning to make the next withdrawals along with her
annual withdrawals of $300,000 ranging from her 66th birthday to
88th birthday:

1. Withdrawing $200,000 from her account on her sixty fifth birthday
for a 3-month journey in celebration of her retirement.

2. Withdrawing $100,000 from her account on her seventieth birthday
and one other $100,000 on her eightieth birthday for organizing luxurious
birthday events for herself.

3. Donating $80,000 yearly to her college, ranging from
her eightieth birthday to 88th birthday.

Assume that Connie will make her first deposit six months from
in the present day and the final deposit one month earlier than her retirement.

So as to fulfill her retirement plan, how a lot cash should
Connie have in her financial savings account on her sixty fifth birthday when she
retires?

(ii) What ought to her month-to-month deposit be with the intention to fulfill her
retirement plan?

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Custom Paper Help, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Custom Paper Help has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Custom Paper Help, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.