Module 3 Discussion: Saving for Retirement No unread replies.No replies. Be sure

Module 3 Discussion: Saving for Retirement
No unread replies.No replies.
Be sure to remember to check the “Expectations” page linked at the bottom, and refer to this document for useful posting information: MAT101 How to include Math Equations in DBs.pdfDownload MAT101 How to include Math Equations in DBs.pdf
Instructions

Answer the following questions.
(Note: You don’t need to reveal private information here—your answers to questions 1 and 2 can be any numbers you choose and need not be about your true age and finances.)
How old are you now? At what age do you hope to retire? These questions are really about answering: How many years do you have until you retire?
Based on how you want to live in retirement and any other sources of retirement income you have available, how much money do you think you will need to draw from this savings account each year during retirement?
You are about to set up a new retirement savings account that earns interest at a
annual interest rate (APR; for the values of
and
to use, see below). You want to make monthly contributions to that account from now until you retire. The goal is to save enough money so that you will be able to withdraw the money you need each month without depleting your principal (in reality, you will probably deplete your principal gradually). How much money do you need to contribute to the account each month?
Choose your interest rate based on your first and last initials
. For example, if your name is Excelsior University (
) you would use the values
and
or
(% APR):
ABCD:
EFGH:
IJKL:
MNOP:
QRST:
UVWX:
YZ:
Don’t Forget!
Be sure to answer all parts of the question above. It is possible that you will not be successful at answering all parts of the question at this point, and that is okay. Describe what you were able to solve and what questions you have remaining.
You can choose to reply to the Discussion either by using text, or video screencast. Note: Instructions for recording a screencast video and uploading it to the discussion can be found here: Screencast Recording for Discussions.
This is a “post first” discussion forum. You must submit your initial post before you can view other students’ posts. To respond to a peer, click “Reply” beneath her or his post and continue as with an initial post.
Please click on the ‘Expectations’ link below to see information on how to reply to your classmates and other important points about this activity.
Note: It is recommended that you write your post in a document (in Word for instance) first. Check your work and correct any spelling or grammatical errors. When you are ready to make your initial post, click on “Reply.” Then copy/paste the text into the message field, and click “Post Reply.”