Posted: June 15th, 2022

You plan to save $7,000 each of the next 40 years

You plan to save $7,000 each of the next 40 years, and make investments that cash in an account that pays 9% annual curiosity. As well as, you plan to pay to your child’s faculty training starting in 20 years. You anticipate that training to value $30,000 per yr for 4 years. To pay for the training, you’ll merely withdrawal cash out of your funding account. As well as, you at the moment have an excellent mortgage with a stability of $15,000 and an annual rate of interest of 9%. You plan to repay that mortgage over the next few years. A timeline depicting this example follows.Date01-1920-2324-40Deposits$7,000$7,000$7,000Withdrawals$30,000Mortgage Stability$15,000a) How a lot cash will you might have simply after you make your final deposit forty years from at present?b) How a lot cash will you might have 5 years later (yr 45) in case you make no extra deposits or withdrawals? c) As an clever and knowledgeable monetary planner, you might have been requested to consider the assumptions and Assessment above. What particular flaws do you see (if any)

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