finance 2 - Complete the following activities and worksheets:

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worksheets_2.1-2.3.xlsx
Home>Business & Finance homework help>finance 2 - Complete the following activities and worksheets:

2.1

WORKSHEET 2.1 - Cost of Long-, Intermediate, and Short-Term Goals and Cost Per Month of Saving for Goals
2.1 Select one SMART long-term, one intermediate, and one short-term goal from Chapter 1 Worksheet 1.6 and estimate the cost of each.
SMART Long-Term Goal: Cost
SMART Intermediate Goal: Cost
SMART Short-Term Goal: Cost

2.2

WORKSHEET 2.2 - Creating a Savings Plan to Meet SMART Goals
2.2 Review your options to designate current savings to specific future goals and calculate how much money you need to deposit annually to support your long-term, intermediate, and short-term goals.
Saving Plan for Long-Term Goal: Cost/Month
Saving Plan for Intermediate Goal: Cost/Month
Saving Plan for Short-Term Goal: Cost/Month

2.3

WORKSHEET 2.3 - Saving for the Goal of Retirement
2.3 Look at your long-term goals from Chapter 1. Is there a set age that you want to retire? Complete the following worksheet based on your desired age for retirement.
Number of years from retirement:
Desired amount in retirement savings:
Given a 5% annual interest rate, use the FVIFA table or formula to calculate how much money you need to save per year:
Given a 7% annual interest rate, use the FVIFA table or formula to calculate how much money you need to save per year:
Given a 10% annual interest rate, use the FVIFA table or formula to calculate how much money you need to save per year:
Plan of action, given these findings:

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