Answer:
A) She will have $3,215,207.108 at 65 Years
B) she will have $5,498,772.38 at 70 years
C)a: If she retires at 65 years and lives for only 20 years she will need to withdraw $403,751.68 every year.
b) If she retires at 70 years and lives for only 15 years, she will need to withdraw $ 764,688.10 every year.
Explanation:
A) To get how much she would have saved with the aid of a financial calculator use the following
N= 65-33= 32.
I = 11
PMT = $13,000
compute FV= and you will get $3,215,207.108.
B) To get how much she would have saved with the aid of a financial calculator use the following
N= 70-33= 37.
I = 11
PMT = $13,000
compute FV= and you will get $5,498,772.38.
C) To get How much she can withdraw if she retires at either 65 years lives for 20 years
with also the aid of a fianacial calculator
N= 20
I =11
PV= 3,215,207.108
Compute PMT = $403,751.68
while if she retires at 70 years and she lives for 15 years
N= 15
I =11
PV= 5,498,772.38
Compute PMT = 764,688.10
