please show work for PMT, PV, FV, I/Y, & N. 7. At age 65...
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please show work for PMT, PV, FV, I/Y, & N.
7. At age 65 you will receive an annuity of $1,200 a month, and you expect to live until 85. If you are 28 years old today, how much is that Annuity worth today? At a rate of 5.6%? 8. You want to retire and believe you will need $3,300 a month live on for the next 25 years. How much will you need to invest today to have $3,300 per month? At a rate 7.7%? 9. You win the lottery for $30,000,000 but you have to take it in 20 payments. An outside company will offer you to giver you a lump sum up front. You believe you can earn 5.6% on the money, what amount would you accept? Please show break down for 7-9 for example fill in for PMT, 1/Y, FV, PV, and N. So, I can have a clear understanding how to input. Thank you
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