How long will it take Lisa Harvie to accumulate $12,000 towards a new car if she...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
How long will it take Lisa Harvie to accumulate $12,000 towards a new car if she is able to deposit $900 a year at 5% interest? . Vincent leung will retire in 10 years. Based on actuarial estimates, he believes he will live 15 years after retirement. During retirement, he needs an annual investment income of $35,000, withdrawn in December 31. How much does he need in 10 years if his investments return will average 6.5%? If Mr. Leung changes his mind and withdraws money on January 1 of each year, with the first withdrawal at the time of his retirement, how much does he need in his account at that time? How long will it take Lisa Harvie to accumulate $12,000 towards a new car if she is able to deposit $900 a year at 5% interest? . Vincent leung will retire in 10 years. Based on actuarial estimates, he believes he will live 15 years after retirement. During retirement, he needs an annual investment income of $35,000, withdrawn in December 31. How much does he need in 10 years if his investments return will average 6.5%? If Mr. Leung changes his mind and withdraws money on January 1 of each year, with the first withdrawal at the time of his retirement, how much does he need in his account at that time?
Expert Answer:
Answer rating: 100% (QA)
Solution Lisa Harvie is depositing 900 per year at 5 interest to accumulate 12000 Using t... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
A 1 5 - kg box starting at rest on a 5 5 - degree incline starts to move. ( a ) What are all the forces on the box, ( b ) what is the acceleration of the box down the incline? ( c ) What is the...
-
For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...
-
Using the SCS method, determine the time of concentration (in hours) for a catchment with a flow length of 250ft and a slope of 2% (i.e. 0.02). The runoff occurs as sheet flow and the surface is...
-
As mentioned in Section 5.6, Sainte-Venants principle will allow particular boundary conditions to be replaced by their statically equivalent resultant. For problems (b), (c), (d),and (f) in Exercise...
-
A, B and C are in partnership sharing profits and losses in the ratio of 50 : 25 : 25 per cent. Each partner receives a salary of 40,000 and interest on opening capital balance of 15 per cent per...
-
Identify and explain the three steps in assessing the risk of material misstatement.
-
For each of the definitions, write the letter of the appropriate term in the space provided. 1-Abusiness that is owned by one individual. 2-Abusiness that is owned by two or more individuals....
-
Kaelea, Inc., has no debt outstanding and a total market value of $70,000. Earnings before interest and taxes, EBIT, are projected to be $6,000 if economic conditions are normal. If there is strong...
-
An inferior product with a large advertising budget sells well when it is introduced, but sales fall as people discontinue use of the product. Suppose that the weekly sales S are give 600t S= t0 (t +...
-
Billingham Packaging is considering expanding its production capacity by purchasing a new machine, the XC-750. The cost of the XC-750 is $2.75 million. Unfortunately, installing this machine will...
-
https://www.youtube.com/watch?v=7nQxWCn_dBg use this link to answer questions in detail 1. What is the essence of this experience from the child's point of view? (based on the facts of the video) 2....
-
A 240 V, single-phase load has a resistance of 3 and an inductive reactance of 4 . Calculate (a) The impedance of the load (b) The power factor of the load (c) The power consumed by the load
-
A 5 A current flows when a neon lighting fixture is supplied by a 120 V power source. If the current lags the voltage by 75, determine the power factor and the real power consumed by the fixture.
-
An automobile generator with an internal resistance of 0.5 develops an open-circuit emf of 9.0 V. The storage battery has an internal resistance of 0.03 and open- circuit emf of 7.0 V. Both sources...
-
Determine the rating of a generator in kVA for a home in order to ensure that the following systems and appliances can be operated in case of a long-term power outage: (a) Air conditioner rated at...
-
Best Purchase must select a location for a new store. Best Purchase has identi- fied five factors as important to store location: land cost, road access, population density, average income, and...
-
. How large must transaction costs in the FX market be such that an arbitrage opportunity, given these spot rates, is no longer possible? USD1.26/GBP EUR1.17/GBP USD0.93/EUR O a. 10.2806% per...
-
1-Stern observed all of the following results EXCEPT _______ in his experiment. A-one of the recombinant phenotypes was associated with an X chromosome of normal length B-the number of car, B+ male...
-
1. If there is such a thing as good debt, what types of debt do you consider to be good? What types do you consider to be bad? 2. What aspects of your financial life make you creditworthy? What...
-
Now that you have read the chapter on investment fundamentals, what do you recommend to Shavenellyee and Sarena on the subject regarding? 1. Portfolio diversification for Shavenellyee? 2. Dollar-cost...
-
1. Why should workers choose to save for retirement through a personally established retirement account? 2. Summarize the importance of low-cost investment fees to long-term retirement success. 3....
-
A popular term for make-or-buy decisions is outsourcing decisions. There are many examples of outsourcing, from Nikes outsourcing of nearly all its production activities to small firms outsourcing of...
-
Quick Copies Company is a small printing and copying firm with three high-speed offset printing presses, five copiers (two color and three black and white), one collator, one cutting and folding...
-
Gulino Corporation manufactures snowmobiles in its White Mountain, Wisconsin plant. The following costs are budgeted for the first quarter's operations. Instructions Classify the above costs of...
Study smarter with the SolutionInn App