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Eduardwww [97]
3 years ago
10

11. Nadine is retiring at age 62 and expects to live to age 85. On the day she retires, she has $402,000 in her retirement savin

gs account. She is somewhat conservative with her money and expects to earn 6 percent during her retirement years. How much can she withdraw from her retirement savings each month if she plans to spend her last penny on the morning of her death? A. $1,909.92 B. $2,147.78 C. $2,219.46 D. $2,416.08 E. $2,688.77
Business
1 answer:
Svet_ta [14]3 years ago
7 0

Answer:

E. $2,688.77

Explanation:

We need to calculate the PMT of an ordinary annuity at 6%

PV \div \frac{1-(1+r)^{-time} }{rate} = C\\

PV 402,000

time:

85 years - 62 years = 23 years of retirement

23 years  x   12 months per year = 276 months

rate: 6% annual rate we must divide over 12 months to convert into monthly: 0.06/12 = 0.005

402000 \div \frac{1-(1+0.005)^{-276} }{0.005} = C\\

C  $ 2,688.766

<em>She can withdraw 2,688.76 per month</em>

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GrogVix [38]

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Skills in developing instructional materials and research make you a very valuable assets in providing data that needed by the people on the field (the front liners).

The duty of professional support services is to collect relevant data from company operations, processing that data, and provide instructions or advice for the front liners on how to use that data to their advantage.

8 0
3 years ago
Read 2 more answers
Net Present Value Method
arsen [322]

Answer:

year               net cash flow

0                     -$150,000

1                        $80,000

2                       $65,000

3                       $50,000

4                       $40,000

A) NPV = -$150,000 + ($80,000 x .87) + ($65,000 x .756) + ($50,000 x .658) + ($40,000 x .572) = -$150,000 + $69,600 + $49,140 + $32,900 + $22,880 = -$150,000 + $174,520 = $24,520

B) Yes , because the net present value indicates that the return on the proposal is greater than the minimum desired rate of return of 15%. Since the NPV is positive ($24,520), it means that the cash inflows are higher than the cash outflows when we use a 15% discount rate.

4 0
3 years ago
Alpha Company is looking at two different capital​ structures, one an​ all-equity firm and the other a levered firm with ​$4.6 m
Aleks [24]

Answer:

The break-even EBIT using EPS is $1,288,000.

Explanation:

the break-even EBIT using EPS is the EBIT that will brings EPS under two different capital structure equal.

Denot X is the EBIT.

* We have:

+ EPS in all-equity firm = X/460,000

+ EPS in levered firm = ( X - interest rate)/230,000 = ( X - 4,600,000 x 14%)/230,000 = (X - 644,000) / 230,000.

* We have the equation:

X/460,000 = (X-644,000)/230,000 <=> X/460,000 = 2.8 <=> X = $1,288,000.

So, the break-even EBIT using EPS is $1,288,000.

8 0
3 years ago
A full summary of all consecutive grants, conveyances, wills, records, and judicial proceedings affecting title to a specific pa
Bad White [126]

Answer:

B) Abstract and opinion.

Explanation:

Abstract and opinion can also be call Abstract of title:

this is the records or evidence of the full history of the property from the conveyance,wills, legal backing, and the list of those people that as assume ownership of the property for a particular period of time.

A full summary of all consecutive grants, conveyances, wills, records, and judicial proceedings affecting title to a specific parcel of real estate, together with a statement of all recorded liens and encumbrances affecting the property and their present status, but not including encroachments and forgeries, is known as a Abstract of Title or Abstract and opinion.

6 0
3 years ago
Jeff got a part-time job delivering groceries for $15/hour and grossed $8,200
solniwko [45]

Answer:

Income = $8,200

Less:

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4 0
3 years ago
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