Marketing homework help
Part 1: Research
Exercise Set 4.3 #39 page 271: “Use what you have learned in this section to create a hypothetical retirement plan for yourself.”
You will conduct an Internet search for an annuity account to research this project. You may conduct your own annuity account Internet search or utilize the Blueprint Income website to find an annuity account. In any case, record the Insurer and the respective interest rate. Cite the source in your reference list.
You will also conduct an Internet search for a bank and the respective savings account interest rate. You may conduct a new Internet search or reuse previous research of a bank and savings account, but you are still required to cite the source in your reference list.
For the purposes of this project, you will assume that the interest rates for all of your research is an APR (I am well aware that most sites report the APY, please assume that this value is the APR as I do NOT want you to perform the task of converting an APY to an APR).
Go to the Smart About Money website and read the sections with the following headings:
Match Your Retirement Income to Your Expenses
Essential expenses
Nonessential expenses
Classify Your Expenses
Cite this source in your reference list.
Next, make the following decisions:
What age will you retire?
What age will you start saving for retirement?
What is the desired monthly income from the annuity account during retirement?
How many years would you like to collect an income from the annuity account after retirement?
Part 2: Math and Technology
[20 points for accuracy] Use the data from Part 1 to compute the following (See the “Uploads” section below for instructions on submitting this portion of the project):
the nest egg needed to achieve the monthly income from the annuity account during retirement using the data that you found and indicated above; and
the monthly deposit needed to reach the nest egg above using the bank savings account, the age you will retire, and the age you will start saving.
Part 3: Interpret the Results
Write a report summarizing your research. Your report is required to include the following:
Discuss the data found in Part 1. [10 points]
Explain what an annuity yield and nest egg are and how the data and information from Part 1 are utilized to compute the nest egg and monthly deposits. [20 points]
Discuss the decisions made regrading the retirement age, the age to start saving, the monthly annuity income, and the number of years you plan to collect it from Part 1. Reference the the topics that were read in the Smart About Money website. [15 points]
Report the information you computed above as a narrative explaining your hypothetical retirement plans. [20 points]
Finally, conclude the report by stating how this hypothetical plan can be applied to your real life. [10 points]
Part 4: References
[5 points]
Create a References List at the end of your report. Cite all of your sources using the APA Style Guidelines. The APA Style — Purdue Writing Lab — Purdue University website is a useful resource for this task. Note that automatic citation generators are not always accurate, and if you choose to use this tool, it is your responsibility to check the citation generated against the current APA Style Guidelines for accuracy.
Uploads
Type your report in the Online Textbox within this assignment dropbox OR attach a document file.
The formulas with substitutions showing all work for Part 2. These may be typed, you may show a Desmos or similar product screenshot, you may hand-write it and create a PDF, or create an Excel spreadsheet that computes the formulas (if you choose the Excel option, you must upload the spreadsheet)