Your uncle has $375,000 and wants to retire. He expects to live for another 25 years and to earn 7.5% on his invested funds. How
much could he withdraw at the end of each of the next 25 years and end up with zero in the account? Select one: a. $28,843.38 b. $30,361.46 c. $31,959.43 d. $33,641.50 e. $35,323.58
1 answer:
Answer:
d. $33,641.50
Explanation:
In this question, we use the PMT formula which is shown in the spreadsheet.
The NPER represents the time period.
Given that,
Present value = $375,000
Future value = $0
Rate of interest = 7.5%
NPER = 25 years
The formula is shown below:
= -PMT(Rate;NPER;PV;FV;type)
So, after solving this, the answer would be $33,641.50
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Answer:
Total monthly fixed cost = $8,440
Variable cost per haircut = $6.26
Explanation:
Provided information we have,
Fixed cost is defined as the cost which does not depend on quantum of activity and is fixed in value.
Here, we have
Fixed cost = base cost to barbers + extra to manager + advertising + rent + utilities + haircut magazines
= ($1,300 5 + $540 + $290 + $910 + $180 + $20)
= $6,500 + $1,940 = $8,440
Variable cost is the cost which is dependable on quantum of activity and changes with each unit.
Variable cost = commission per haircut + barber supplies + utilities
= $5.63 + $0.39 + $0.24 = $6.26 per haircut
Total monthly fixed cost = $8,440
Variable cost per haircut = $6.26