TVM Finance Assingment Help With Solution

Posted on April 13, 2017

TVM Finance Assingment Help With Solution

 

Student’s Personal Retirement Plan

(Show your work/calculations for each step in separate sheet)

1. Estimate your annual Retirement Expense Projection using today’s dollars, start with current expenses.
2. Take this amount and divide by .80 to get your pre-tax amount (using a 20% effective tax rate)
3. Determine what age you want to retire.
4. The current average Social Security benefit is $14,760/ yr. Subtract this amount from your retirement expense projection.
5. If you have a pension, multiply by .80and also subtract this amount from your retirement expense projection.
6. Use TVM (Time value of Money) to inflate your net projected retirement expenses from 2013 to your retirement age at 3%.
7. Determine life expectancy from Social Security tables.Then add 10 years to your life expectancy.
8. Use TVM to calculate the amount needed at retirement to last for the remainder of your life expectancy using a rate of return of 6%.
9. If you have any current retirement savings, use TVM to grow your savings by 8% per year until your retirement age.

 

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10. Subtract your answer to #7 from #6. This is the additional amount you need to save.
11. Using TVM, calculate the annual amount needed to reach your retirement goal if you started saving today and could earn 8%. Divide this number by 12 to make it a monthly figure.
12. Using TVM, calculate the annual amount needed to reach your retirement goal if you started saving today and could earn 6%. Divide this number by 12 to make it a monthly figure.
13. Using TVM, calculate the annual amount needed to reach your retirement goal if you started saving in 5 years and could earn 8%. Divide this number by 12 to make it a monthly figure.
14. Using TVM, calculate the annual amount needed to reach your retirement goal if you started saving in 5 years and could earn 6 %. Divide this number by 12 to make it a monthly figure.
15. Using TVM, calculate the annual amount needed to reach your retirement goal if you started saving in 10 years and could earn 8%. Divide this number by 12 to make it a monthly figure.
16. Using TVM, calculate the annual amount needed to reach your retirement goal if you started saving in 10 years and could earn 6%. Divide this number by 12 to make it a monthly figure.
17. Using TVM, calculate the annual amount needed to reach your retirement goal if you started saving in 15 years and could earn 8%. Divide this number by 12 to make it a monthly figure.
18. Using TVM, calculate the annual amount needed to reach your retirement goal if you started saving in 15 years and could earn 6%. Divide this number by 12 to make it a monthly figure.

 

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