User Account

All Pages

Determine what maximum amount marie withdraw each month

Assignment Help Financial Accounting
Reference no: EM132614890

Marie, an employee at McCormick, has determined that she will need $5000 per month in retirement over a 30-year period. She has forecasted that her money will earn 7.2% compounded monthly. Marie will spend 25-years working toward this goal investing monthly at an annual rate of 7.2%. How much should Marie's monthly payments be during her working years in order to satisfy her retirement needs? Hint: Find how much Marie must have at retirement, then find the monthly payments to reach that goal.

Question 1: What maximum amount could Marie withdraw each month so that her balance never decreases (nearest dollar)?

a. PV

b. PMT

C. PMT(consider the payment as perpetuity)

Reference no: EM132614890

Questions Cloud

What amount must be invested today : Flounder requires $234000 in four years to purchase a new home. What amount must be invested today in an investment that earns 7% interest, compounded annually
Which financial statements are designed primarily to : Which Financial statements are designed primarily to? Indicate to investors in a particular company the current market values of their investments.
Discuss typical components of request for proposal : Discuss typical components of RFP meant for nonprofit services.What strategies and techniques should be used to respond effectively to RFP or grant announcement
Find and calculate the monthly payment for each : Find and Calculate the monthly payment for each. Property taxes and insurance will add $1,000 per month to whichever mortgage they choose.
Determine what maximum amount marie withdraw each month : Determine What maximum amount could Marie withdraw each month so that her balance never decreases (nearest dollar)? PMT(consider the payment as perpetuity)
Present the carrying value of the patent at December : Assuming Trail Blazers Corp. uses straight line amortization: Present the carrying value of the patent at December 31, 2021. Show and label all calculations
Know the financial requirements of the program : Now that you have identified a community need, found a program that addresses the need, and know the financial requirements of the program,
Determine the allowance and prepare partial balance sheet : Determine the allowance and prepare partial balance sheet. Assuming the allowance for doubtful accounts has an unadjusted credit balance of $4,500
Solve the value of cogs for the month of april : TK Suppliers, Solve the value of COGS for the month of April and the value of ending inventory at the end of April using the FIFO method.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd