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3241004551 [841]
3 years ago
9

You want to be able to withdraw $45,000 from your account each year for 30 years after you retire. You expect to retire in 25 ye

ars. If your account earns 6% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?

Business
1 answer:
Amanda [17]3 years ago
4 0

Answer:

Expected withdrawal is $45,000 for 30 years = total of $1,350,000

You will be required to invest in $25.063 every year.

Explanation:

By applying the goal seek formula in excel to determine the annual invested fund, based on a compounded interest rate of 6% over a duration of up to a maximum of 25 years from Year 0, we can clearly see that Savings ought to be $25,063 for every year.

The future Value of each saved fund is derived and added to future value of each years subsequent saved fund to arrive at a total expectation of $1,350,000 expected value after 25 years (i.e. $45,000 annual withdrawal x 30 years of withdrawal)

This brings total savings to $626,572 for the entire 25 years

Kindly refer to the attachment for breakdown of workings.

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The odd-lot trading theory advocates that small investorsA) tend to buy high and sell low.B) react in a manner which generally f
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Answer:

The correct answer is A) tend to buy high and sell low.

Explanation:

The theory of odd lots is a theory of technical analysis based on the assumption that the small individual investor who trades foreign lots is often wrong. Therefore, if sales of odd lots increase and small investors are selling a share, it is probably a good time to buy. Vice versa, when purchases of odd lots increase, the theory of odd lots would indicate a good time to sell.

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3 years ago
Jenna would like to work as a computer programmer. While in college, Jenna worked in a bookstore, where she eventually moved up
TiliK225 [7]
<span>the answer d Jenna is incorrect; working in the bookstore gave her the management experience valuable in different fields.
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4 0
3 years ago
Read 2 more answers
What is large office​
gogolik [260]

Answer:

A large office can be found in big organisations with many clerical workers. An example of a large office is a bank. A factory could also be an example of a large office if it has more than ten people working in it. In a large office, work is divided among the many clerical workers.

3 0
3 years ago
Tamarisk Corporation purchased a truck by issuing an $118,400, 4-year, zero-interest-bearing note to Equinox Inc. The market rat
lianna [129]

Answer:

Dr. Truck                $80,869

CR. Note Payable $80,869

Explanation:

Note issued is a liability instrument. It is a promise of payment f principal amount and interest after a specific period of time. Zero interst interest bearing not does not offer any interest payment but it is issued at a discounted price . Present value of Note payable is the value that should be recognised as a cost of the truck.

Now calculate the present value of the Note.

PV of Zero coupon bond = FV / ( 1 + r )^n

Where

FV = FV maturity value of the note = $118,400

r = Interest rate = 10%

n=  numbers of period = 4 years

Placing Values in the formula

PV of Zero coupon bond = $118,400 / ( 1 + 10% )^4

PV of Zero coupon bond = $80,869

5 0
3 years ago
Building Supplies is considering a merger with Tools and More. Building's total operating costs of producing services are $4 mil
Natalka [10]

Answer:

We generally calculate total average cost by dividing total cost / total output units.

In this case, we are not given the output units, but instead we are given the output value, so we should find a percentage from total revenue.

total costs = $4,800,000

total revenue = $20,000,000 + $5,000,000 = $25,000,000

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This means that for every $100 of revenue, the merged company will spend $19.20.

7 0
3 years ago
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