1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anna007 [38]
3 years ago
10

Your uncle just won the weekly lottery, receiving $375,000, which he invested at a 7.5% annual rate. He now has decided to retir

e, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. What is the maximum number of whole payments that can be withdrawn before the account is exhausted, i.e., before the account balance would become negative? (Hint: Round down to the nearest whole number.)
Business
1 answer:
Genrish500 [490]3 years ago
3 0

Answer:

22

Explanation:

Calculation to determine the maximum number of whole payments that can be withdrawn

Based on the information given we would be using financial calculator to determine the maximum number of whole payments that can be withdrawn which represent N

PV -$375,000

PMT $35,000

I 7.50% Annual rate

FV $0

N ?

Hence;

N=22

Therefore the maximum number of whole payment that can be withdrawn will be 22

You might be interested in
When a business does not generate enough revenue to cover salaries, rent, and other expenses, it incurs a _____.
STALIN [3.7K]

Answer:

The correct answer is: Net Loss.

Explanation:

A Net Loss or Net Operating Loss (<em>NOL</em>) occurs when the firm's expenditures are higher than its revenue. Net losses are the results of different factors such as inefficient employees, competition or unexpected market conditions (war). If a company reports net losses, it does not necessarily imply it will file for bankruptcy since there are other sources from where the company can hold like loans.

5 0
3 years ago
Increasingly, people are buying more fuel-efficient cars that burn less gasoline per mile. This seves people money
Sliva [168]
As the gas prices increase, the demand for electric and fuel efficient cars has greatly increased. People want to avoid spending more money than needed. With new advancements being made technologically, there is not much of a demand for cars that require excessive gasoline.
These new advancements have created a new era of automobiles which in turn creates job openings and economic growth in the auto industry.
Personally, I would rather purchase an electric car, or a car that is more fuel efficient to save more money in the long run.
7 0
3 years ago
For the year ended December 31, Ion Corp. had cash inflows of $25,000 from the purchases, sales, and maturities of held-to-matur
77julia77 [94]

Answer:

The amount of net cash flow from investing activities that ion should report in its cash flow statement is $65,000.

Explanation:

A cash flow statement is one of the financial statements which will tell how changes in income statement and balance sheet accounts will affect the company's cash inflow and outflow. This statement will break down the analysis in to operating , investing and financing activities.

For taking out the net cash flow in investing activities, purchase activities are added and sale activities are subtracted and from the given information in the question , it is clear that both are purchasing activities, therefore

NET CASH FLOW FROM INVESTING = $25,000 + $40,000

                                                              = $65,000

5 0
3 years ago
when the price rises from p1 to p2, consumer surplus a. increases by an amount equal to a. b. decrease by an amount equal to c.
aleksandrvk [35]

When the price rises from P1 to P2, consumer surplus decreases by an amount equal to B + C.

Consumer surplus, also known as buyers' surplus, refers to an economic measurement of consumer advantages that arises from market competition. It occurs when the actual price for a product or service that consumers are paying is less than the price, they are willing to pay. The changes in price affect the consumer surplus, as consumer surplus always increases as the price of a good or service decreases, and decreases as the price of a good or service increase. Visually, it is illustrated by economists as the area under the demand curve between the market price and what consumers would be willing to pay. In this case, that is represented by sum of B and C.

Note: The question is incomplete. It does not contain the figure (which is attached).

Learn more about Consumer surplus:

brainly.com/question/13573671

#SPJ4

6 0
1 year ago
What are some ways to make money through investing in real estate.
UNO [17]
There are a few ways that you can make money in real estate:

CHARGE RENT:
If you own a house, hotel, mobile home, or land that is unused, charge people rent to use your facility/property. 

BUSINESS OPERATION:
Why not start a car wash, convenience store, or a retail store? That's extra income that you have access to!

FLIP HOUSES:
You can easily flip a house by buying any old/run-down house and upgrading it. A profit is almost guaranteed. 
7 0
3 years ago
Other questions:
  • You are given the following information concerning Parrothead Enterprises:
    7·1 answer
  • The market price of a security is $26. Its expected rate of return is 13%. The risk-free rate is 5% and the market risk premium
    6·1 answer
  • Macroeconomics studies all of the following EXCEPT which one?
    7·1 answer
  • Mary reports that, on a productive week, she can develop the system requirements in four days, but during a normal week it shoul
    15·1 answer
  • As a manager, you want to praise a team member, Phil, for doing a good job on a particular project. However, you know that Phil
    5·1 answer
  • A stock is expected to pay a $0.45 dividend at the end of the year (D1 = 0.45). The dividend is expected to grow at a constant r
    13·1 answer
  • List four advantages of bankruptcy
    15·1 answer
  • Coordination refers to ________. a. identifying the span of control within an organization b. portioning the performance of spec
    6·2 answers
  • Which type of tax is also known as municipal tax? taxes at the level are known as municipal taxes. the two main components of th
    12·1 answer
  • Recent trends show that the percentage of the labor force represented by unions has _____.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!