You have just turned 30 years old, have just received your mba, and have accepted your first job. now you must decide how much money to put into your retirement plan. the plan works as follows: every dollar in the plan earns 9 % per year. you cannot make withdrawals until you retire on your 60 th birthday. after that point, you can make withdrawals as you see fit. you decide that you will plan to live to 100 and work until you turn 60. you estimate that to live comfortably in retirement, you will need $ 98 comma 000 per year starting at the end of the first year of retirement and ending on your one hundredth birthday. you will contribute the same amount to the plan at the end of every year that you work. how much do you need to contribute each year to fund your retirement?

Annual deposit= $21,568.87

Explanation:

Giving the following information:

You have just turned 30 years old. Every dollar in the plan earns 9 % per year. You cannot make withdrawals until you retire on your 60th birthday.

You will need $ 98,000 per year starting at the end of the first year of retirement and ending on your one-hundredth birthday.

First, we need to calculate the total amount needed at age 60.

Final value= 30years*98,000= $2,940,000

To calculate the annual deposit we need the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (2,940,000*0.09)/[(1.09^30)-1]= $21,568.87

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

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