Bank account to achieve her retirement goal

Assignment Help Business Economics

Reference no: EM13740691

Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start savin $A per year for 40 years. Starting on her 62nd birthday, Lisa plans on withdrawing $10000 and will continue these annual with drawls until the account is exhausted on her 85th birthday. If Lisa's bank account pays 3% per year, what annual amount of $A will Lisa need to invest in her bank account to achieve her retirement goal?

Reference no: EM13740691

Questions Cloud

Selection and description of organization : Select a business organization from the Fortune 500 which is of interest to you and ensure that you will be able to obtain the necessary information about its strategy, business model, and performance (much of this information can be obtained from..

Wholesale skim milk market is perfectly competitive : Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity?

Elements of employee well-being : Assume you are an HR director for a manufacturing company. Your responsibilities address all elements of employee well-being, which include compliance with the Occupational Safety and Health Administration and include employee benefits and relatio..

Equilibrium price and consumer surplus : Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price, quantity and consumer surplus?

Bank account to achieve her retirement goal : Lisa plans to retire on her 61st birthday. On her 22nd birthday, Lisa will start savin $A per year for 40 years. Starting on her 62nd birthday, Lisa plans on withdrawing $10000 and will continue these annual with drawls until the account is exhausted..

Components of an international compensation program : Discuss the key components of an international compensation program. Give an example of one of these components and how it has affected a company of your choice.

Marginal rate of substitution of football tickets : Charlie has $ 1000 to allocate between football tickets and movie tickets over the year. The price of each football ticket is $50, and the price of each movie ticket is $10. His marginal rate of substitution of football tickets for movie tickets equa..

How managers can take up overseas tasks : Your e-mail message should also include at least three recommendations on how managers can take up overseas tasks with minimum transition problems. State the rationale for your recommendations

What will be the quantity demanded of rice : The price elasticity for rice is estimated to be -0.4 and the income elasticity is 0.8. At a price of $0.40 per pound and a per capita income of $20,000, the demand for rice is 50 million tons per year. If per capita income increases to $20,500, what..

User Account

All Pages