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Alexeev081 [22]
3 years ago
13

Your uncle has $340,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $35,000 at the end of each year, star

ting at the end of this year. He also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. For how many years can he make the $35,000 withdrawals and still have $25,000 left in the end

Business
1 answer:
timama [110]3 years ago
5 0

Answer:

17.27 years

Explanation:

For this question we use the NPER formula that is shown on the attachment below:

Provided that  

Present value = $340,000

Future value = $25,000

PMT = $35,000

Rate of interest = 7.5%

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the number of year is 17.27 years

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PLEASE HELP! I need to know what to put in the blank
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Available Options are:

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Answer:

Option E. Awareness-building

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Which of the following describes the effect of the business cycle on the inflation rate and the unemployment rate? A. The unempl
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Answer:

The correct answer are option D for both questions.

Explanation:

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While during expansion, there is a boost in economy. So, with increase in investment and production, the unemployment rate falls. There is a rise in inflation rate as well.

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Answer:

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3 0
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Calculate the IRR of a machine that is purchased for $5,500, sold at the end of year 4 for $2,500, and produces the following ca
prohojiy [21]

Answer:

2.21%

Explanation:

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The IRR can be determined using the excel IRR function as shown thus:

=IRR(values)

values are the cash flows from years 0-4

Find attached excel file for IRR computation

Download xlsx
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2 years ago
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