Essay regarding Problem Arranged 1

PROBLEM SET # one particular

Instructions:

1) Open book, open records limited to just class supplies. 2) Infinite time.

3) This must be refractive of your individual effort. GMU Honor Code applies. 4) The Problem Set #1 (only the question alternatives portion) is due at the end of the day upon September 24th. 5) Demonstrate all work, as incomplete credit will probably be given for each and every question's solution. Organize your work so it is easy to follow. You can use expression, power point, excel or perhaps combinations from the above. 6) Return the Solutions web pages to be rated. Put a duplicate in the course folder and throw me an electronic replicate that I will certainly grade and return to you along with the accepted solution. 7) The workout is worth 90 points.

8) GOOD LUCK

Identity: ________________________________

1) You are cost savings for the school education of the two children. They are really two years a part in age group; one will start college 12-15 years via today plus the other will begin 17 years from today. You approximate your children's college expenses to be $21, 000 per year per child, payable towards the end of each school year. The annual interest price is 15%. Your deposit begin 12 months from today. You will choose a last put in when your most ancient child makes its way into college. (15 points)

How much cash must you deposit in an consideration to fund your children's education?

2) My loved one and I happen to be each 62 and aspire to retire in three years. Following retirement all of us will jointly receive $7, 500 each month after fees from monthly pension plans and $1500 following taxes by Social Secureness. Unfortunately each of our monthly living expenses are $15, 000. The social obligations preclude further economics.

We have $1, 000, 500 invested in premium, tax totally free municipal connect mutual finance. The returning of the account is 3. 5% per year. We want to make total annual withdrawals from your mutual pay for to cover the between the pension and SSA profits and bills. (15 points)

How...