Hi All,
I am having a lot of difficulty with a PV function. I have the following info:
Col A Col B
Total Annual Contribution $2,480
Amount at Retirement $837,948
Annuity Amount (annual) $85,308
Employee Contribution 6.2%
Employer Contribution 6.2%
Years Contributing 40
Return on Investment 9.0%
Years of Annuity 25
Taxable Earnings $20,000
I want to calculate the annuity amount ($85308) and have been told it is done using the PV function. I get:
=PV(B12,B13,B4,-B5) i.e.
=PV(.09,25,2480,-837948) = $72,815.07
What am I doing wrong here ??????
Pete
I am having a lot of difficulty with a PV function. I have the following info:
Col A Col B
Total Annual Contribution $2,480
Amount at Retirement $837,948
Annuity Amount (annual) $85,308
Employee Contribution 6.2%
Employer Contribution 6.2%
Years Contributing 40
Return on Investment 9.0%
Years of Annuity 25
Taxable Earnings $20,000
I want to calculate the annuity amount ($85308) and have been told it is done using the PV function. I get:
=PV(B12,B13,B4,-B5) i.e.
=PV(.09,25,2480,-837948) = $72,815.07
What am I doing wrong here ??????
Pete