A person invests $50,000 in an investment that earns 6 percent. If $6,000 is withdrawn each year,

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

Question:

A person invests $50,000 in an investment that earns 6 percent. If $6,000 is withdrawn each year, how many years will it take for the fund to run out?

Posted Date: May 17, 2024 11:11 AM

See More Questions

1. Joshua Vermier of Sacramento, California, received a raise after his first year on the job to $43,800 from his initial salary of $42,000. What was Joshuas raise stated as a percentage? Inflation...
A person invests $50,000 in an investment that earns 6 percent. If $6000 is withdrawn each year, how many years will it take for the fund to run out?
(b) A person is offered a gift of $5,000 now or $8,000 five years from now. If such funds could be ex- pected to earn 8 percent over the next five years, which is the better choice? (c) A person...
Q2. (20 pts) Product structure tree of product A is given in the following table: B(2) A C(3) D(3) E(4) F(5) E(6) a. How many components of each kind to produce 5 product A? b. Draw operation process...
What is the SQL command to list the total sales by customer and by product, with subtotals by customer and a grand total for all product sales?
Bruno and coworkers [Int. J. Thermophys., 7, 1033 (1986)] describe an apparatus that contains a palladium-silver membrane that is permeable to hydrogen but not other gases. In their experiments after...
$(3 c)^{6}$ Simplify the expression.
For each of the following subsequent (post-balance-sheet) events, indicate whether a company should (a) Adjust the financial statements, (b) Disclose in notes to the financial statements, or (c)...
*** philippines income taxation **** . Mr. X, a corporate rank and file employee, earns PhP47,600 per month for a 12-month calendar year. The following contributions are deducted from his monthly...
The following are the income of a resident citizen for the period: Interest income from an investment in a 10-year bond P40,000 Interest income from 5-year time deposit in Philippine bank 50,000...
Who excommunicated emperor Theodosius, causing that ruler to humble himself?
A capacitor is made from two parallel plates of area A, which are separated by a distance d. The region between the plates is filled by a dielectric of dielectric constant x. The capacitor is first...
Select and describe a leader you admire. Your selected leader may be either a real-life individual or a fictional character from television, movies, or a book. Using leadership theories, analyze your...
Who was among the first to exam the human factors of the work force?
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $40,000...
The instruction to convert 'A' to 'a' is: Select one: a. or al, 0000010b b. or al, 00100000b or al, 00100100b d. or al, 00010000b e. or al, 01100000b
Outline a general process applicable to most control situations. Using this, explain how you would develop a system to control home delivery staff at a local pizza shop.
Using divisibility rules, determine if 342,887 is divisible by 9 .
Using divisibility rules, determine if 87,762 is divisible by 10 .
Can 43,568 pieces of mail be separated into 6 bins with the same number of pieces of mail per bin?

A person invests $50,000 in an investment that earns 6 percent. If $6,000 is withdrawn each year,

Question:

Expert Answer:

Students also viewed these finance questions