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zzz [600]
3 years ago
15

Nadine is retiring today and has $96,000 in her retirement savings. She expects to earn 5.5 percent, compounded monthly. How muc

h can she withdraw from her retirement savings each month if she plans to spend her last penny 18 years from now?
Business
1 answer:
Ann [662]3 years ago
6 0

Answer:

The monthly withdrawal is $701.10  

Explanation:

The monthly withdrawal can be computed with PMT formula using excel spreadsheet.

The formula is PMT(rate,nper,-pv)

The fv and type are both taken as zero.

However, the rate of 5.5 % given in the question is a yearly rate,but the requirement of the question is monthly withdrawal, hence the rate is divided by 12 months to reflect a monthly rate i.e 5.5%/12

Besides, the nper should  also to be adapted to show that the withdrawal is to be made every month for 18 years, hence nper is 12*18

The computation of the pmt based on the above highlighted points is found in the attached.

Download xlsx
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Skysong, Inc. is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial informa
Katen [24]

Answer:

$34,100

Explanation:

The computation of the net income is shown below:

Net income = Total revenues - Total expenses

where,

Total revenues

= Service revenue + sales revenue

= $145,200 + $27,500

= $172,700

And, the total expenses is expenses incurred i.e $138,600

So, the net income is

= $172,700 - $138,600

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As we know that the income statement records only revenues and expenses and the same is considered

6 0
4 years ago
A paint manufacturer has a uniform annual demand for 16,000 cans of automobile primer. It costs $4 to store one can of paint for
Luda [366]

Answer:

B) The company should have 8 production runs each year

Explanation:

Given :

Uniform annual demand, = 16000

Total cost, C = 500y + 2x

xy = 16000

x = \frac{16000}{y}

Let's substitute \frac{16000}{y} for x in C.

Therefore, we have :

C = 500y + 2( \frac{16000}{y} )

C = 500y + \frac{32000}{y}

In order to minimize the total storage and setup costs,

Differentiating wrt y:

C = C_m_i_n,    \frac{dc}{dy}=0

C'(y) = 500y + \frac{32000}{y^2} = 0

y^2 = \frac{320}{5} = 64

y = \sqrt{64} = 8

In order to minimize the total storage and setup costs, the company should have 8 production runs each year

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3 years ago
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zavuch27 [327]

1.9 billion servings world wide per day

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3 years ago
13. In support of the third goal of FEMA's action plan, FEMA leaders at all levels must recognize that diversity management is a
Shalnov [3]

Answer:

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olganol [36]

Answer: process consultation

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