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TEST 2 - Page 1 of 2 Opportunity#1 FIRE 314 Summer 2007...

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Page 1 of 2 Opportunity #1, FIRE 314, Summer 2007 PLEASE PUT ALL ANSWERS IN THE BLUE BOOK! PLEASE READ THIS SCTION BEFORE CONTINUING!!! 1) You are allowed one 8 1/2 x 11 sheet of notes. 2) You are allowed to use a hand-held calculator for calculations. 3) Please answer clearly. Clarity of presentation is considered part of the answer. Unclear or imprecise answers will not receive full credit. 4) Show all work in quantitative problems! No credit will be given if the chain of reasoning is not evident in the answer. (does not apply to multiple choice) 5) Any lapse of ethical behavior will be referred directly to honor code. Computation Questions (4 pts. each) You are conducting an interview with a new client. You have determined that her present age is 35, she would like to retire at age 65, wishes to plan for an expected lifetime of 85 years, and will have no heirs. 1) The client would like to be able to retire on $30,000.00 per year during retirement.
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