Annuities

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Answer the following questions. Remember to show your calculations. If you use Microsoft Excel to calculate, you must share your file.  A. You have started saving up for retirement, which you plan to start in 20 years. You will save up on 2,000 euros at the end of each year starting immediately. With 7% interest compounded yearly, how much would you expect to have when you retire in 20 years?  B. Starting next year, you would like to receive 1,000 euros at the end of each year for 10 years. You receive a compound interest of 5% yearly. How much should you invest today?  C. You have been offered a financial product that offer 9% compounded monthly for 20 years. From next month, you need 300 euros per month. How much should you invest today?  D. If you invest 800 euros at the end of each year in a financial product that offers 4% compounded yearly, how long will it take before you have 10,000 euros?

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