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vichka [17]
3 years ago
7

g Bob makes his first $ 800 deposit into an IRA earning 7.4 % compounded annually on his 24th birthday and his last $ 800 deposi

t on his 39th birthday ​(16 equal deposits in​ all). With no additional​ deposits, the money in the IRA continues to earn 7.4 % interest compounded annually until Iob retirees on his 65th birthday. How much is in the IRA when Bob​ retires
Business
1 answer:
Gala2k [10]3 years ago
6 0

Answer:

FV= $137,440.62

Explanation:

Giving the following information:

Bob makes his first $ 800 deposit into an IRA earning 7.4 % compounded annually on his 24th birthday and his last $ 800 deposit on his 39th birthday ​(16 equal deposits in​ all). With no additional​ deposits, the money in the IRA continues to earn 7.4 % interest compounded annually until Iob retirees on his 65th birthday.

First, 16 years:

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

A= annual deposit

FV= {800*[(1.074^16)-1]}/0,074= $23,067.90

Next 25 years.

FV= PV*(1+i)^n

FV= 23,067.90*(1.074)^25= $137,440.62

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6 0
2 years ago
A firm's cost of equity is 22%. Its before-tax cost of debt is 13% and its marginal tax rate is 21%. The firm's capital structur
alisha [4.7K]

Answer:

WACC= 17.95%

Explanation:

Weighted average cost of capital is the average cost of all of the long-term types of finance used by a company weighted according to the that amount of finance used in relation to the total pool of fund.

It is calculated using the formula below:

WACC = (We×Ke)  +  (Wd×Kd)

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