Retirement fund

I’m trying to write my paper and I’m stuck. Can you help?

Our reliable essay writing service is a great opportunity for you to save your time and receive the best paper ever.

Joshua, who is currently 25 years old, wants to invest money into a retirement fund so as to have $2,000,000 saved up when he retires at age 65. If he can earn 12% per year in an equity fund, calculate the amount of money he would have to invest in equal annual amounts and alternatively, in equal monthly amounts starting at the end of the current year or month respectively.With annual deposits: With monthly deposits:(Using the APR as the interest rate)FV = $2,000,000; FV = $2,000,000;N = 40 years; N = 12*40=480;I/Y = APR = 12%; I/Y = APR = 12%;PV = 0; PV = 0;C/Y=1; C/Y = 12P/Y=1; P/Y = 12PMT = $2,607.25 PMT = $169.99(Using the periodic rate (APR/m) as the interest rate )FV= $2,000,000;N = 12*40=480;I/Y= 12%/12=1%PV=0C/Y = 1P/Y = 1PMT = $169.99Looking at these numbers most people would think this is affordable..why then are most Americans not saving for their retirement? Discuss what you believe to be the real reason most 25 year olds (like Joshua in our example above) are not saving for retirement. What do you think we can do to change this trend?

Plagiarism-free and delivered on time!

We are passionate about delivering quality essays.

Our writers know how to write on any topic and subject area while meeting all of your specific requirements.

Unlike most other services, we will do a free revision if you need us to make corrections even after delivery.

ORDER PROCESS

How it Works

c

Place an order

Fill out the order form.

Attach any custom instructions that is required to complete your order.

Make Payment

Pay online safely.

The order form will redirect you to a payment page.

Receive Order via Email

Once the order is complete, we’ll send it via the email provided on the order form.

All Papers are Written from Scratch