Gilbert needs $600,000 (in today's dollars) when he retires in 20 years to open a lakefront bed and breakfast. He has saved $150,000 (current balance) toward this goal. Gilbert anticipates the annual inflation rate over the 20-year period will be 4%, and that he can earn an after-tax return of 8% on any invested funds. How much does Gilbert need to save at the start of the 1st year if he makes inflation-adjusted deposits at the beginning of each year

Instructions are listed below.

Explanation:

Giving the following information:

Gilbert needs $600,000 (in today's dollars) when he retires in 20 years to open a lakefront bed and breakfast. He has saved $150,000 (current balance) toward this goal. Gilbert anticipates the annual inflation rate over the 20 years will be 4%, and that he can earn an after-tax return of 8% on any invested funds.

First, we calculate the future value of the lump sum:

FV= PV*(1+i)^n

FV= 150,000*1.04^20= 328,668.47

Now, we determine the future value required in annual deposits:

Rest= 600,000 - 328,668.47= 271,331.53

We need to use the following formula to calculate the annual deposits:

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

A= {(271,331.53*0.04) / [(1.04^20) - 1]} / 1.04

A= $8,761.33

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.

since the options are not listed, when you are working on your budget you should also add water, tv, internet, miscellaneous and your 'fun' money for in your budget. when budgeting, you need to allow for fun money, and mis/accidental money so that you stick to the budget and not go crazy because you feel strapped to the budget.