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Aman aged 25 years, has completed his post-graduation and just joined a MNC as a...

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Accounting

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Aman aged 25 years, has completed his post-graduation and just joined a MNC as a manager at a good pay scale. He is working in a private sector and intends to buy a mutual fund. Aman decides to invest certain amount per year as SIP for next 20 years. Aman wishes to keep the money till his retirement in the bank account that pays 6.60% as interest. Aman wishes to withdraw a fixed amount for his retirement and he estimates that he will live for 20 years post retirement But he is also exploring the option of saving only till the age of 50 in case he opts for an early retirement Analyse and summarize results without using time value of money and with applying the concepts of time value of money: a. If the man saves money till the age of 60. b. If the man saves money till the age of 50. (Ignore Taxes)

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