Assume that you have accumulated $60,000 in student loan debt. You pick an 18-ye

Question

Assume that you have accumulated $60,000 in student loan debt. You pick an 18-year horizon to pay of the loan. If the loan has a 6.25% annual rate, what will your monthly payments be?

You plan to work for the next 37 years and earn 7.5% on your investments during your working years. In retirement, you expect to need $92,000 per year during each of your 25 years of retirement and (during this time) you expect to earn 4.6% on investments. How much do you need to invest at the end of each year (while working) to allow this to happen?

Explanation / Answer

1. 463.37

2.7487.64

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