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NNADVOKAT [17]
3 years ago
7

You are to make monthly deposits of $450 into a retirement account that pays an apr of 10.7 percent compounded monthly. if your

first deposit will be made one month from now, how large will your retirement account be in 32 years? (do not round intermediate calculations and round your answer to 2 decimal places,
e.g., 32.16.) retirement account value in 32 years
Business
1 answer:
USPshnik [31]3 years ago
3 0

The retirement account value in 32 years is calculated using the FV function in excel as in =FV(rate,nper,pmt) where

rate (monthly interest rate)= 10.7% = 0.107 = 0.107/12 (Monthly)

nper (number of periods)= 32*12 = 384 months

pmt (Monthly deposit) = 450

The retirement account's value in 32 years =FV(0.107/12,384,450) = 1,475,143.62

Your retirement account will be in 32 years =$1,475,143.62 (Rounded to 2 decimals)

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A. 10.14%

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1.Market value of PAW common stock:5,000,000*8=$40,000,000

2.Market value of PAW outstanding preferred stock=$10,000,000

3.Market value of PAW bonds outstanding=96,000,000(100,000*1000*96%)

Total Market value(1+2+3)=146,000,000

4.Cost of equity amount on common stock(19%*40,000,000)=7,600,000

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6.After tax cost of Debt amount(9%*66%*96,000,000)=$5,702,400

Total cost amount(4+5+6)=14,802,400

The WACC can be calcualted as: Total cost amount/Total market value

                                                        14,802,400/146,000,000=10.14%

The answer should be A. 10.14%

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