Annual withdrawals are made from an investment fund, starting with $5000 and decreasing (negative growth) by 5%
Question:
(a) What will be the size of the 15th withdrawal? (Let k = -5%)
(b) What will be the total amount withdrawn
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
PMT 500000 k 5 005 n 15 a Size of the ...View the full answer
Answered By
Jonas Araujo
I have recently received the degree of PhD. In Physics by the Universidade Federal do Maranhão after spending a term in Durham University, as I have been awarded a scholarship from a Brazilian mobility program. During my PhD. I have performed research mainly in Theoretical Physics and published works in distinguished Journals (check my ORCID: https://orcid.org/0000-0002-4324-1184).
During my BSc. I have been awarded a scholarship to study for a year in the University of Evansville, where I have worked in detection-analysis of photon correlations in the the Photonics Laboratory. There I was a tutor in Electromagnetism, Classical Mechanics and Calculus for most of that year (2012).
I am very dedicated, honest and a fast learner, but most of all, I value a job well done.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
(Various Time Value Situations) Answer each of these unrelated questions. (a) On January 1, 2003, Rather Corporation sold a building that cost $250,000 and that had accumulated depreciation of...
-
(a) On January 1, 2012, Fishbone Corporation sold a building that cost $250,000 and that had accumulated depreciation of $100,000 on the date of sale. Fishbone received as consideration a $240,000...
-
(Multiple Choice) 1) Holding all other variables constant, an increase in the interest rate will cause ________ to decrease. a. Future values b. Annuity payments c. Present values d. Growth rates 2)...
-
Suppose the comparative balance sheets of Sage Hill Inc.. are presented here. SAGE HILL INC. Condensed Balance Sheet May 31 ($ in millions) 2019 2018 Assets Current Assets $9,680 $8,760 Property,...
-
In the previous question, suppose that the management decides to use a p chart for the analysis. As noted earlier, 10% of produced items are known to be nonconforming. The firm analyzes a batch of...
-
1. Solve each triangle (i.e. find all the missing lengths and angles). [Ans: a) ZA = 52, a = 15.4 cm, b = 19.5 cm, b) J = 70, LL = 20, k = 13.1 cm ] a) A 12 cm 38 B C b) 12.3 cm K 4.4 cm J 2. Dmitri...
-
In a gas turbine, air at a temperature of \(15^{\circ} \mathrm{C}\) and 1 bar pressure enters the compressor, where it is compressed to 5 bar. Air enters the turbine at a temperature of \(815^{\circ}...
-
Air at 38C and 97% relative humidity is to be cooled to 18C and fed into a plant area at a race of 510m3/min. (a) Calculate the rate (kg/mm) at which water condenses. (b) Calculate the cooling...
-
Following the launch of new electric cars by Toyota and Honda, demand for Japanese cars increases for all values of the real exchange rate, domestic GDP and foreign GDP. In other words, all things...
-
The following regression results were based on monthly data over the period January 1978 to December 1987: Y t = 0.00681 ................... + 0.75815X t se = (0.02596) .................. (0.27009) t...
-
You plan to make 25 annual deposits into your RRSP starting with $500 and increasing thereafter by 3%. (a) What will be the size of the 25th deposit? (b) What will be the total amount deposited?
-
Twenty semi-annual deposits are made earning interest of 5% compounded semiannually. The size of the first deposit is $1200 and the deposits increase at 1.5% thereafter. (a) Determine the total...
-
Waketown Marina needs to raise $2.0 million to expand the company. The company is considering issuing either: $2,000,000 of 6% bonds payable to borrow the money; or 100,000 shares of common stock...
-
Machine learning (ML) and artificial intelligence (AI) will be playing a more significant role in cybersecurity tools and techniques in the coming years. Given this fact, research the trends for ML...
-
Assume that the acquisition cost and expected useful life of a computer system are $5,000 and 6 years, respectively. The computer systems expected number of failures per million hours is 80 and its...
-
A "balanced" mutual fund is defined as having a standard deviation of 3 . 0 5 , while an income mutual fund is defined as having a standard deviation of 2 . 6 7 . Which mutual fund is a more risky...
-
Discuss the theories used in the Journal of Financial Risk Management and explainable, trustworthy, responsible AI by Sebastian Fritz-Morgenthal l, Bernhard hein and jochen papenbrock for its plans...
-
What ethical considerations arise in the context of leadership succession planning and executive compensation, balancing organizational interests with individual rights and fairness principles?
-
The value that attracts millions of customers to McDonald's every day comes from capabilities that are based in its value chain. Briefly describe McDonald's value chain and discuss how information...
-
Tanaka Company's cost and production data for two recent months included the following: March April Production (units).........300................600 Rent.....................$1,800............$1,800...
-
A family is thinking about buying a new house costing $120,000. The family must pay 20% down, and the rest is to be amortized over 30 years in equal monthly payments. If money costs 7.5% compounded...
-
Annual payments of $1,045 are made for 5 years to repay a loan at 4.75% compounded annually. In Problems, find i (the rate per period) and n (the number of periods) for each loan at the given annual...
-
A person establishes a sinking fund for retirement by contributing $7,500 per year at the end of each year for 20 years. For the next 20 years, equal yearly payments are withdrawn, at the end of...
-
This project requires an investment in fixed assets, at time 0, of 44,000,000. Assets will be depreciated straight line in 5 years. This project has a 4 year life. The revenues for each of the 4...
-
Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year - end, the Work in Process Inventory account shows the following. Work in Process Inventory Date Explanation...
-
T-bill with a $10,000 par has 174 days until maturity. The T-bill has a bank discount bid quote of 2.208% and ask quote of 2.198%. What is the return on the investment in this T-bill if the trader...
Study smarter with the SolutionInn App