A graduate went to her financial advisor and informed him that she is 27 years old and would like to retire when she is 60 and want to have $4, 700 per month for 25 years after retirement. If money is worth 4.75% what is the lump sum payment that the graduate should make today in order to achieve this goal?
Answer to relevant QuestionsMr. Khalil went to Pre-Owned Motor Corp to purchase a Jaguar for $120,000. He put 3% down and the interested rate is 5.00% for 5 years. What was the total principal paid at the end of year 3. Show the principal yearly. Show ...If $ 9000 is invested at 8% interest, find the value of the investment at the end of 9 years if the interest is compounded.Annually_______Monthly________Daily___________Continuously_____Assume that for a period of time, long-term corporate bonds had an average return of 8.0 percent with a standard deviation of 12.0 percent. What is the 95 percent probability range of returns?Peter, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with seven years to maturity that is quoted at 108 percent of face value. The issue makes semiannual payments and has an embedded ...Miller Brothers Hardware paid an annual dividend of $1.15 per share last month. Today, the company announced that future dividends will be increasing by 2.6 per cent annually. If you require a 12 per cent rate of return, how ...
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