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viva [34]
3 years ago
13

You have just retired with savings of $2 million. If you expect to live for 57 years and to earn 7% a year on your savings, how

much can you afford to spend each year (in $ dollars)
Business
1 answer:
galben [10]3 years ago
6 0

Answer:

Annual withdraw= $143,023.66

Explanation:

Giving the following information:

Present value (PV)= $2,000,000

Number of periods (n)= 57

Interest rate (i)= 7% a year

<u>To calculate the annual withdrawal, we need to use the following formula:</u>

Annual withdraw= (PV*i) / [1 - (1+i)^(-n)]

Annual withdraw= (2,000,000*0.07) / [1 - (1.07^-57)]

Annual withdraw= $143,023.66

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Answer:

C. -Because They are responsible for customer satisfaction

Explanation:

Every Cashier is responsible for making sure that the customer Gets what he or she needs. and ever customer should be treated fairly. Every Customer should be happy when Getting Served.

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What are the five exclusive rights given to copyright owners under the copyright act?
bagirrra123 [75]
The right to reproduce the copyrighted work
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8 0
2 years ago
JetBlue’s "Even More Space" initiative allowed passengers to buy seats with more legroom for a slightly higher price. The initia
8090 [49]

Answer: Upselling

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7 0
2 years ago
with no inflation, a bank would be willing to lend a business firm $5 million at an annual interest rate of 6 percent. but if th
Alex

Interest rate - A bank might want to loan a business structure 5000000 dollar at a n old financing cost of 6%.

What is interest rate?
A percentage of the principal, or the amount loaned, is what a lender charges a borrower as interest. The annual percentage rate, or APR, is the usual unit used to express the interest rate on the a loan (APR). The amount earned from a savings account as well as certificate of deposit at a credit union or bank may also be subject to interest rates (CD). Interest on these deposit accounts is calculated as an annual percentage yield (APY). The borrower is essentially charged interest for the use of the asset. Cash, consumer products, vehicles, and real estate are all examples of lent assets. An interest rate can therefore be viewed as the "cost of money" because it increases the cost of borrowing the very same amount of money.

Learn more about interest rate here:
brainly.com/question/25793394
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8 months ago
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