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DanielleElmas [232]
3 years ago
8

You plan on making a $235.15 monthly deposit into an account that pays 3.2% interest, compounded monthly, for 20 years. At the e

nd of this period, you plan on withdrawing regular monthly payments. Determine the amount that you can withdraw each month for 10 years, if you plan on not having anything in the account at the end of the 10 year period and no future deposits are made to the account.
Business
1 answer:
erma4kov [3.2K]3 years ago
8 0

Answer:

Monthly payment = $769.27

Explanation:

First we have to determine the future value of the ordinary annuity:

Payment = $235.15

N = 20 * 12 = 240

Rate = 3.2% / 12 = 0.267%

Using a financial calculator and the FV function, the FV = $78,910.41

Again, using the financial calculator or Excel, you can determine the monthly payment:

N = 10 / 12 = 120

Rate = 0.267%

PV = $78,910.41

FV = $0

Monthly payment = $769.27

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You are considering two investment alternatives. The first is a stock that pays quarterly dividends of ​$0.38 per share and is t
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Answer:

The​ 1-year HPR for the first stock is 16.18%

Explanation:

The computation is shown below:

For investment 1 -

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= {($0.38 × 2) + $29.25 - $25.83} ÷ ($25.83) × 100

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= 16.18%

3 0
2 years ago
Suppose that students at Big University buy season football tickets at the beginning of the fall semester. Everyone expects that
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Answer:

A) The current supply will shift to the left

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If everyone expects that the football team will have a great season, the quantity demanded for tickets will increase, which will increase their price. But the suppliers will also hold to their tickets until a day or two before the games to increase expectations and fans' anxieties. That way the price will increase even more, and they will make a higher profit.

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The following items appear on the balance sheet of a company with a one-year operating cycle. Identify the proper classification
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The Wood Division of Bramble Corp. manufactures rubber moldings and sells them externally for $45. Its variable cost is $25 per
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Answer:

c. $45

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3 years ago
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