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This is a classic retirement problem. A time line will help in solving it. Your friend is celebrating her 35th birthday today and wants to start saving for her anticipated retirement at age 65. She wants to be able to withdraw $134,000 from her savings account on each birthday for 20 years following her retirement; the first withdrawal will be on her 66th birthday. Your friend intends to invest her money in the local credit union, which offers 7.9 percent interest per year. She wants to make equal annual payments on each birthday into the account established at the credit union for her retirement fund.
If she starts making these deposits on her 36th birthday and continues to make deposits until she is 65 (the last deposit will be on her 65th birthday), what amount must she deposit annually to be able to make the desired withdrawals at retirement?
Suppose your friend has just inherited a large sum of money. Rather than making equal annual payments, she has decided to make one lump sum payment on her 35th birthday to cover her retirement needs. What amount does she have to deposit?
Suppose your friend's employer will contribute $4,400 to the account every year as part of the company's profit-sharing plan. In addition, your friend expects a $184,000 distribution from a family trust fund on her 55th birthday, which she will also put into the retirement account. What amount must she deposit annually now to be able to make the desired withdrawals at retirement?
If the future value of an ordinary, 11 year annuity is $5,575 and interest rates are 5.5%, what is the future value of the same annuity due
assuming that the real rate of interest is 3 percent, investors expect a 5 percent rate of inflation in the future, and they expect the rate of return on the overall stock market to be 13 percent.
Determine the rate earned on total assets, the rate earned on stockholders' equity, and the rate earned on common stockholders' equity for the years 2011 and 2012. When required, round to one decimal place.
A new roof would last 20 years, but would cost $20,000. The house is expected to last forever. Assuming the costs will remain constant and that the interest rate is 5% what value would you assign the existing roof
What is the present value of $2,150 per year, at a discount rate of 9 percent, if the first payment is received 6 years from now and the last payment is received 20 years from now
Argue for or against an established theory involving Mergers and Acquisitions or Financial Ratio Analysis and argue for or against your own theory involving Mergers and Acquisitions or Financial Ratio Analysis
Discuss key reasons why a country should engage in global trade, and describe the control systems that can be put in place to protect domestic trade.
Marine, Inc., manufactures a product that is available in both a flexible and a rigid model. The company has made the rigid model for years; the flexible model was introduced several years ago to tap a new segment of the market.
Objective and multiple choice questions on Financial Econometrics responsible for creating financial statements.
Wagner Industrial Motors, which is currently operating at full capacity, has sales of $2,450, current assets of $790, current liabilities of $480, net fixed assets of $1,640, and a 5 percent profit margin.
The present value of a payment of 60 at the end of 10 years and 40 at the end of 20 years is equal to 40. The present value of a perpetuity with payments of x at the end of each year is also 40.
Here and Gone, Inc., has sales of $19.9 million, total assets of $14.9 million, and total debt of $5.7 million. Assume the profit margin is 12 percent.
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