Answer:
Annual withdrawal= $57,032.02
Explanation:
Giving the following information:
Initial investment (PV)= $450,846
Interest rate (i)= 12.65%
<u>To calculate the annual withdrawal, we need to use the following formula:</u>
PV= Cf / i
Cf= annual cash flow
450,846= Cf / 0.1265
450,846*0.1265 = Cf
Cf= $57,032.02
Answer:
EAR = 8.24%
Explanation:
EAR = (1+APR/n)^n-1
Where n is number of compounding per year = 4
EAR = (1+8%/4)^4 - 1
EAR = (1 + 0.02)^4
EAR = (1.02)^4
EAR = 1.08243216 - 1
EAR = 0.08243216
EAR = 8.24%
Answer:
98,760 Czech korunas for 6,000 Singapore dollars
Explanation:
For computing the number of Koruna she is able to exchange first we have to determine the Singapore dollar exchange rate in Czech koruna which is
= Singapore dollar exchange rate ÷ Czech exchange rate
= 0.790 ÷ 0.048
= 16.46
And, there are 6,000 Singapore dollars in her pocket
So, the number of Koruna she is able to exchange is
= 16.46 × 6,000 Singapore dollars
= 98,760 Czech korunas for 6,000 Singapore dollars
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