Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

Jordan wants to retire in 15 years when he turns 65. Jordan wants to have enough money to replace 75% of his current income less what he expects to receive from Social Security at the beginning of each year. He expects to receive $20,000 per year from Social Security in today's dollars. Jordan is conservative and wants to assume a 6% annual investment rate of return and assumes that inflation will be 4% per year. Based on his family history, Jordan expects that he will live to be 95 years old. If Jordan currently earns $100,000 per year and he expects his raises to equal the inflation rate, approximately how much does he need at retirement to fulfill his retirement goals?
A. $1,268,887
B. $2,242,055
C. $2,285,195
D. $3,057,348

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M924677
  • Price:- $8

Guranteed 24 Hours Delivery, In Price:- $8

Have any Question? 


Related Questions in Basic Finance

1 define security interest and how it has been used in real

1. Define security interest and how it has been used in real estate finance since the Industrial Revolution. 2. What is meant by the term collateral? By hypothecation? 3. What is the purpose of a promissory note? Of a mo ...

1 what is the connection between the truth-in-lending act

1. What is the connection between the Truth-in-Lending Act and the annual percentage rate (APR)? 2. What is the effective borrowing cost? 3. What is meant by a nominal rate of interest on a mortgage loan? 4. What is the ...

Answer both of the following questions in a 2-3 page word

Answer both of the following questions in a 2-3 page Word document: 1. To be adequately informed about the adequacy of a company's risk management, investors and creditors need information about strategies for holding de ...

Future value of annuity twins jessica and joshua both 25

Future Value of Annuity. Twins Jessica and Joshua, both 25, graduated from college and began working in the family restaurant business. The first year, Jessica began putting $2,000 per year in an individual retirement ac ...

Can someone help provide the steps and solution to this

Can someone help provide the steps and solution to this problem. X-treme Vitamin Company is considering two investments, both of which cost $10,000. The cash flows are as follows: Year Project A Project B 1.............. ...

Generate code for the following three-address statements

Generate code for the following three-address statements assuming stack allocation where register SP points to the top of the stack.

1 how has transportation cost as a percentage of total

1. How has transportation cost, as a percentage of total logistics cost, tracked since 1980? 2. Describe the logistics value proposition. Be specific regarding specific customer accommodation and cost. 3. Describe the fu ...

Recall from the chapters on options that we learned about

Recall from the chapters on options that we learned about bull and bear spreads. Intramarket futures spreads also are considered bull and bear spreads. Describe what you think might be a bull spread with T-bonds futures. ...

1 list four important drivers of housing demand and price

1. List four important drivers of housing demand and price appreciation. 2. What are public goods? How may they be reflected in house prices? 3. When considering an investment in "distressed'' properties, what are the tw ...

Suppose your firm is seeking a four year amortizing 290000

Suppose your firm is seeking a four year, amortizing $290,000 loan with annual payments and your bank is offering you the choice between a $299,500 loan with a $9,500 compensating balance and a $290,000 loan without a co ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen