You plan to retire in 10 years. Would it be better for you to save $27,500 a
Question:
You plan to retire in 10 years. Would it be better for you to save $27,500 a year for the last five years before retirement or $16,250 for each of the 10 years? You are able to earn 9 percent interest on your investments.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
27500 for last five years of reti...View the full answer
Answered By
Hemstone Ouma
"Hi there! My name is Hemstone Ouma and I am a computer scientist with a strong background in hands-on experience skills such as programming, sofware development and testing to name just a few. I have a degree in computer science from Dedan Kimathi University of Technology and a Masters degree from the University of Nairobi in Business Education. I have spent the past 6 years working in the field, gaining a wide range of skills and knowledge. In my current role as a programmer, I have had the opportunity to work on a variety of projects and have developed a strong understanding of several programming languages such as python, java, C++, C# and Javascript.
In addition to my professional experience, I also have a passion for teaching and helping others to learn. I have experience as a tutor, both in a formal setting and on a one-on-one basis, and have a proven track record of helping students to succeed. I believe that with the right guidance and support, anyone can learn and excel in computer science.
I am excited to bring my skills and experience to a new opportunity and am always looking for ways to make an impact and grow as a professional. I am confident that my hands-on experience as a computer scientist and tutor make me a strong candidate for any role and I am excited to see where my career will take me next.
5.00+
8+ Reviews
22+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
You plan to retire in 10 years and buy a house in Oviedo, Florida. The house you are looking at currently costs $100,000 and is expected to increase in value each year at a rate of 5 percent....
-
Would it be better if international auditing standards were set by the United Nations rather than under the existing system?
-
You plan to retire in exactly 20 years. Your goal is to create a fund that will allow you to receive $20,000 at the end of each year for the 30 years between retirement and death (a psychic told you...
-
Ruff, Tuff, and Duff are parners sharing profits and losses 30/30/40 respectively. Their balance sheet is below: Cash Receivable from Ruff Property & Equipment $200,000 10,000 500,000 $710,000...
-
Malcolm owns 60% and Buddy owns 40% of Magpie Corporation. On July 1, 2015, each lends the corporation $30,000 at an annual interest rate of 10%. Malcolm and Buddy are not related. Both shareholders...
-
What is the probability that the next person asked has two tattoos? Use the frequency distribution.
-
When variables are related to each other, why might this be the case? And, when two variables are strongly related to one another, does it mean that a change in one causes a change in the other? Why...
-
Rick Kleckner Corporation recorded a capital lease at $300,000 on January 1, 2011. The interest rate is 12%. Kleckner Corporation made the first lease payment of $53,920 on January 1, 2011. The lease...
-
Selected data (in thousands) derived from the income statement and balance sheet of Cardinas Corp. for a recent year are as follows: Income statement data: Net income Gain on disposal of property...
-
A company has two factories, one at Liverpool and one at Brighton.[20] In addition it has four depots with storage facilities at Newcastle, Birmingham, London and Exeter. The company sells its...
-
As a result of a slowdown in operations, Global Stores is offering employees who have been terminated a severance package of $118,000 cash, another $129,000 to be paid in one year, and an annuity of...
-
You want a retirement fund of $125,000 when you retire in six years. You are able to earn 8 percent on your investments. How much should you deposit each year to build the retirement fund that you...
-
In this question we consider conditional distributions for binary random variables, expressed as tables. a. A, B, C, and D are binary random variables. How many entries are in the following...
-
a. The mother was ordered to promote the frequent and continuing positive interaction between the children and the father. Wouldnt this promotion constitute an expression of opinion by the mother? If...
-
Determine if a given utility function of a form: is (weakly) increasing or (weakly) decreasing. u: R R
-
Why are budget lines of the first and of the second traders in static Arrow- Hurwicz model identical (coincide)?
-
On what date is CGT for 2021-22 normally due for payment?
-
There are given utility functions u: R R R
-
Derive an asymptotic form for \(\Gamma_{h}\) and \(\Gamma_{v}\) when the grazing angle is very small.
-
Identify the tax issues or problems suggested by the following situations. State each issue as a question. Jennifer did not file a tax return for 2007 because she honestly believed that no tax was...
-
In Problems use formula (2) for the amount to find each of the indicated quantities. A = $910; r = 16%; t = 13 weeks; P = ? Formula 2 A = P + Prt = P(1 + rt)
-
Describe how the following business transactions affect the three elements of the accounting equation. a. Received cash for services performed. b. Paid for utilities used in the business. c. Borrowed...
-
How are revenues and expenses reported on the income statement under? (a) The cash basis of accounting and (b) The accrual basis of accounting?
-
How are revenues and expenses reported on the income statement under? (a) The cash basis of accounting and (b) The accrual basis of accounting?
-
What logic gate does this represent (reduce it) Do D
-
What basic logic gate does this implement? a b in out Not otb E in Not O out nota And out aAndNotb out Or out b notAndb a out And b
-
Design a Fuzzy system to reduce effect of impulse noise on a noisy image with intensities ranging from [0, L-1]. Let zs denotes the intensity of middle pixel of the neighborhood. The output intensity...
Study smarter with the SolutionInn App