You plan on starting a retirement fund at the end of the year. The fund earns...

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Finance

You plan on starting a retirement fund at the end of the year.The fund earns 11% per year. You will invest X dollars into thefund. You plan to retire at the end of 40 years from now. Once youretire, you will take your entire retirement fund and transfer itinto a safer investment that will only earn 5% interest per yearcompounded monthly. You will need $4000 per month for 30 yearsduring your retirement to sustain your lifestyle. (After whichpoint, RIP). Calculate exactly how much money you will deposit inyour retirement account at the end of this year.
Your cousin who is the same age as you and with the same lifeexpectancy and desired retirement age decides she will wait 10years to start saving for retirement (so she will save for only 30years). How much does she need to invest per year to achieve thesame retirement nest egg as you when she retires?
Finally, your lazy best friend who is also your age decides hewill wait 10 years to start saving for retirement just like yourcousin. However, he will only save the same amount you save peryear. He will retire at the same time as you and reinvest just likeyou do into a safer investment. He will try to live the same lifestyle as you. How long after retirement (in months) before he isbroke?

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My plan I am confused with fist question Whether my retirement plan is lump saving or per year saving Because there is not mention any per year saving for my plan But later one when my friends plan come he is saving as my plan per year SO I am using both option here Particular Data Formula PMT in retirement age per month 4000 Given Return from investment per month 5 Given During of retirement in month 360 3012 Requirement amount at See Answer

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You plan on starting a retirement fund at the end of the year.The fund earns 11% per year. You will invest X dollars into thefund. You plan to retire at the end of 40 years from now. Once youretire, you will take your entire retirement fund and transfer itinto a safer investment that will only earn 5% interest per yearcompounded monthly. You will need $4000 per month for 30 yearsduring your retirement to sustain your lifestyle. (After whichpoint, RIP). Calculate exactly how much money you will deposit inyour retirement account at the end of this year.Your cousin who is the same age as you and with the same lifeexpectancy and desired retirement age decides she will wait 10years to start saving for retirement (so she will save for only 30years). How much does she need to invest per year to achieve thesame retirement nest egg as you when she retires?Finally, your lazy best friend who is also your age decides hewill wait 10 years to start saving for retirement just like yourcousin. However, he will only save the same amount you save peryear. He will retire at the same time as you and reinvest just likeyou do into a safer investment. He will try to live the same lifestyle as you. How long after retirement (in months) before he isbroke?