How much money should be deposited each year for 12 years if you wish to withdraw $309

Question:

How much money should be deposited each year for 12 years if you wish to withdraw $309 each year for five years, beginning at the end of the 14th year? Let i = 8% per year.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Engineering Economy

ISBN: 978-0133439274

16th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

See More Books

Question Posted: Dec 03, 2018 12:23 PM

See More Questions

(1) The Martin family recently deposited $1,000 in a bank account that pays a 3 percent nominal interest rate. Interest in the account will be compounded daily (365 days = 1 year). How much will they...
You have decided to start planning for your retirement by analyzing different retirement plans. The plan offered by IRA Managers requires you to deposit $5,000 at the beginning of each of the next 30...
Multiple Choice Questions Items 1 through 4 require use of present value tables. The following are the present value factors of $1 discounted at 8% for one to five periods. Each item is based on 8%...
Susan has completed a concept map, assisted by her colleagues, and has recently returned from her meeting with her manager. Her manager is very concerned about the high attrition rate and poor...
Based on the information in Problem 28-16, if the firm considered in Figure 28-1 were to employ 14 units of labor, what would be the resulting marginal revenue product of the 14th unit of labor hired?
Solve the preceding problem for a W 250 x 44.8 wide-flange shape with the following data: L = 3.5 m, q = 45 kN / m, h = 267 mm, b = 148 mm, tf = 13 mm, tw = 7.62 mm, d = 0.5 m, and a = 50 mm.
A parallel-plate capacitor in which the plates are extendable is connected to a battery and charged until there is a charge $+q$ on one plate and a charge $-q$ on the other plate. (a) With the...
1 (a) what source of power does Carl have (b) What type of power is she using? (c) Which influencing tactic is Carl using during the meeting? (d) Is negotiation and/or the (e) Exchange tactic...
When an object is placed between the pole(P) and focus(F) of a concave mirror, the image formed is (i) behind the mirror (ii) virtual and erect and (iii) larger than the object (or magnified) M A' E...
Management of a manufacturing unit is considering extensive modernization of the factory through progressive mechanization which would result in improved productivity and reduced strength. Through...
Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start saving $A per year for 40 years. Starting on her 62nd birthday, Lisa plans on withdrawing $10,000 and will continue...
Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 10%, how much accumulated...
On January 1, 2018, Burlington Inc.'s general ledger contained these opening balances for its liability accounts: Accounts payable..................................$52,000 CPP...
Explain in detail Define customer value and its importance in crm based on what the textbook says. Then talk about mass customization and how it helps with customer value. Brief summary about what...
Based on Apple vs Samsung lawsuit briefly explain the conflict scenario (facts of the case - background story) along with the parties involved in the negotiation process and then address the...
A dosimeter unit is tested for failure and median life of 6000 hours was found. Previous experience with these shows the time to failure is Weibull distributed with a shape factor of 3. What is the...
How does the design of facilities, including urban form, transportation, and parks influences physical activity?List some urban design strategies that can encourage more pedestrian and bicycle trips.
Transportation has an irrefutable importance to an economy. Explain transportation's role in an economy. Support your claim with evidence of transportation's impact on an economy (provide a positive...
Why is it important for the ALSA management team to understand the importance of social media in their work?
Q1) What is the a3 Value Q2) What is the a7 Value Q3) What is the a4 Value Q4) What is the b3 Value Q5) What is the b2 Value Q6) What is the sign of 2nd constraint? A pastry chef at a bakery wants to...
a. What is the CW, when i = 10% per year, of $1,500 per year, starting in year one and continuing forever; and $10,000 in year five, repeating every four years thereafter, and continuing forever? b....
A foundation was endowed with $10,000,000 in July 2000. In July 2004, $3,000,000 was expended for facilities, and it was decided to provide $250,000 at the end of each year forever to cover operating...
Vidhi is investing in some rental property in Collegeville and is investigating her income from the investment. She knows the rental revenue will increase each year, but so will the maintenance...
Suppose that the net income view were to be correct in Problem 1. Describe a profitable investment strategy for investors in the companys bonds and equity if the company were to reduce its debt. What...
A piece of land in Ottawa with an area of 0.5 square kilometers is priced at 5200 Canadian dollars. If there are 0.9955 Canadian dollars per (U.S.) dollar, then what is the price in dollars per...
Marc and Mikkel are married and file a joint tax return. Marc and Mikkel earned salaries this year of $ 6 6 , 2 0 0 and $ 2 5 , 2 0 0 , respectively. In addition to their salaries, they received...

How much money should be deposited each year for 12 years if you wish to withdraw $309

Question:

Step by Step Answer:

P 12 of deposits A FA 812 and P 13 P 12 FP 8 1 P ...View the full answer

Engineering Economy

Students also viewed these Business questions