Susan would like to receive $70,000 in the first year of her financial independence at age 60. After this first income payment, she is content with her annual income growing at the rate of 2% per annum below the rate of inflation. She would like this income to be paid indefinitely. She expects inflation to be 3% per year and her investments to achieve nominal returns of 6% per year (compounded yearly). Assuming that all calculations are to be performed in ‘real’ terms, how much does she need to save for financial independence (to the nearest dollar)

Jasmine wants to fund a scholarship in honour of her parents that will pay $15 000 per year to a deserving student, starting next year. She wants the annual amount paid to the student to grow by 2% per year to keep up with student fee increases. Given that the interest rate she can earn on her investment is 6%, how much does she need to fund this perpetuity?

Kelly starting setting aside funds six years ago to buy some new equipment for her firm. She has saved $2,000 each quarter and earned a return of 7.50% p.a. compounded quarterly. How much money does she currently have saved for this purpose? Group of answer choices $61,803.48 $61,666.67 $62,224.04 $59,924.38 $59,022.03

How much would Susan be willing to pay for an investment property today if she believes it will generate $30,000 per year in rent indefinitely (after deducting agent fees and other costs), growing at 1% above inflation if he can achieve a real rate of return on similar investments of 6% per annum using the ‘Present value of future rent’ valuation approach (to the nearest dollar)?Please do not include dollar signs or commas in your answer.

1. Tom decides to save money to buy his dream car. He deposits $8,000 into a savings account with an annual interest rate of 6%. Calculate the simple interest after 3 years.*4 points$1,140$1,240$1,340$1,4402. Emily starts saving for her college education by depositing $12,000 into an education fund with an annual interest rate of 5%. Calculate the simple interest after 4 years.*4 points$1,400$2,400$3,400$4,4003. Mark is saving for a home renovation project. He deposits $15,000 into a savings account with an annual interest rate of 8%. Calculate the total amount after 2.5 years.*4 points$12,000$14,000$16,000$18,0004. Alex invests $25,000 in a small business with an annual interest rate of 9%. Calculate the simple interest after 2 years.*4 points$1,500$2,500$3,500$4,5005. A group of friends (5 members) decides to start a vacation savings club. Each friend contributes $500 to the club every year, and the total amount is deposited into a savings account with an annual interest rate of 4%. Calculate the total amount in the savings account after 5 years.*4 points$1,000$2,000$3,000$4,000

You are saving for retirement. You plan to retire when you reach 65 yearsold. To live comfortably during retirement, you plan to withdraw moneyfrom your savings account $48,000 each year. Suppose today is your 25thbirthday, and you decide, starting today and continuing on every yearup to your 64th birthday, that you will put the same amount into a savingsaccount. If the interest rate is 2.4% per annum, compounded annually,how much must you set aside each year to make sure that you will haveenough money in the account on your 65th birthday in order to be ableto withdraw $48,000 per year when you retire and you expect to live untilyour are 90 years old (i.e., the first withdrawal is on your 65th birthday andthe last withdrawal occurs on your 89th birthday)?