Kevin is 25 years old and just finished taking a Personal Finance class. He wants to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Kevin is 25 years old and just finished taking a Personal Finance class. He wants to start a investment plan with a goal of reaching $1,000,000 by the time he is 55 years old. He decides to invest in a Real Estate Investment Mutual Fund that has paid a dividend yield of 12% for the past several years. If Kevin wanted to make ONE investment at age 25 and let it grow, how much would he need today to reach that goal? If Kevin decides that he wants to invest in the Real Estate Investment Fund in equal monthly payments every year, how much will he have to invest on a monthly basis? Kevin is 25 years old and just finished taking a Personal Finance class. He wants to start a investment plan with a goal of reaching $1,000,000 by the time he is 55 years old. He decides to invest in a Real Estate Investment Mutual Fund that has paid a dividend yield of 12% for the past several years. If Kevin wanted to make ONE investment at age 25 and let it grow, how much would he need today to reach that goal? If Kevin decides that he wants to invest in the Real Estate Investment Fund in equal monthly payments every year, how much will he have to invest on a monthly basis?
Expert Answer:
Answer rating: 100% (QA)
To calculate the amount Kevin needs to invest today to reach his goal of 1000000 by the time hes 55 ... View the full answer
Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
Posted Date:
Students also viewed these finance questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
1. What evidence is there that Michelle lacks contentment? 2. Inwhat ways is Michelle exhibiting ambivalence toward her finances? 3. What financial idols does Michelle have in her life? 4. What goals...
-
Dun and Bradstreet have reported that nearly half of all Australian businesses operated with a negative cash flow over recent financial years. This figure is worrying as 80% of business failures are...
-
On December 31, 2013, Quirk Inc. has taxable temporary differences of $2.2 million and a deferred tax liability of $616,000. These temporary differences are due to Quirk having claimed CCA in excess...
-
complete these python: json_data={"column...
-
Allan and Koraev both owned condominiums in the same building. Koraevs unit was directly above Allans. While Allan lived in her own unit, Koraev leased his. The leasing of Koraevs unit was managed by...
-
KinderKids provides daycare for children Mondays through Fridays. Its monthly variable costs per child are as follows: Lunch and snacks ................. $ 100 Educational supplies ...................
-
Q. In order to attain economic progress, humans use the natural resources of the planet. Nature is fashioned into products for human consumption. This economic activity is needed to create jobs and...
-
Utilizing an array or vector and loops, write a class structure with accessors and mutators that accept 20 numbers and outputs the following: - the sorted numbers in ascending order - the product of...
-
Your bank is offering you an account that will pay 13% interest in total for a two-year deposit. Determine the equivalent discount rate for a period length of a. six months. b. one year. c. one month.
-
A city has two competitive television stations, station R and station C. Every month, each station makes exactly one choice for the Thursday 89 p.m. time slot from the program categories shown in the...
-
Are all polynomials quadratics? Give examples to support your answer.
-
Building-On-Line (BOL) is an online retailer that has been selling high-end home building products to construction contractors for several years. It was started by Jack Tosic, once a contractor...
-
You are considering a car loan with a stated APR of 6.04% based on monthly compounding. What is the effective annual rate of this loan?
-
what are the dimensions indicated on the scale in figure 3-5? O 20 0" Os'0" 2-8 1/2 2. What pre the dimensions indicated on the drawing below? I
-
What will be the final value of DI after executing the following piece of code? Execute the instructions dependently one after another. CLD MOU CX,OFOH MOU AX.02874H MOU DI,01000H MOU ES, DI SUB...
-
Particulate matter is a serious form of air pollution often arising from industrial production. One way to reduce the pollution is to put a filter, or scrubber, at the end of the smokestack to trap...
-
An industrial machine requires an emergency shutoff switch that must be designed so that it can be easily operated with either hand. Design an experiment to find out whether workers will be able to...
-
A school in the northeastern United States is concerned with the recent drop in female students in its MBA program. It decides to collect data from the admissions office on each applicant, including:...
-
A change in chromosome structure that does not involve a change in the total amount of genetic material is a. a deletion. b. a duplication. c. an inversion. d. none of the above.
-
The term endopolyploidy refers to the phenomenon of having a. too many chromosomes. b. extra chromosomes inside the cell nucleus. c. extra sets of chromosomes in certain cells of the body. d. extra...
-
During transduction involving a P1 phage, a. any small fragment of the bacterial chromosome may be transferred to another bacterium by a new phage. b. only a specific fragment of DNA may be...
Study smarter with the SolutionInn App