Expenses expected to be the first year of retirement

Assignment Help Financial Management

Reference no: EM131984671

a) A loan has a stated annual rate of 15.07%. If the loan payments are made monthly and interest is compounded monthly, what is the effective annual rate of interest?

b) You invest $460.00 at the beginning of every year and your friend invests $460.00 at the end of every year. If you both earn an anual rate of return of 11.07%, how much more money will you have after 15.0 years?

c) You currently have $3,531.00 in a retirement Savings account that earns an annual return of 10.16%. You want to retire in 49 years with $1,000,000. How much more do you need to Save at the end of every year to reach your retirement goal?

d) You currently owe $2,085.00 of your credit card that charges an annual interest rate of 19.42%. You make $152.00 of new charges every month and make a paayment of $269.00 every month. What will your credit card balance be in three months?

e)You would like to retire in 27 years. The expected rate of inflation is 1.44% per year. You currently have a standard of living that requires $9.690.00 of monthly expenses. Assuming you want to maintain the same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement?

Reference no: EM131984671

Questions Cloud

Find the quoted price to the nearest : The yield was quoted as 11.267%. Find the quoted price to the nearest .001.

Risk premium is basis points-default premium is basis points : To the nearest basis point, the risk premium is basis points and the default premium is basis points

Write a cpp program a two-dimensional array are populated : Write a c++ program a 2-dimensional array of 10x5 that are populated by random numbers between 0 and 49.

What is the most that you would pay for an investment : What is the most that you would pay for an investment that promises to pay $6,296 a year forever with the first payment starting one year from now?

Expenses expected to be the first year of retirement : Assuming you want to maintain the same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement?

What is the firms dividend yield : The shares of the Dyer Drilling Co. sell for $60. The firm has a P/E ratio of 15. Twenty percent of earnings is paid out in dividends.

Draft an internal memorandum : The audit partner from Awesome Audits wants you to draft an internal memorandum based on the given information

Calculate the earnings before interest and taxes : Sheryl's Shipping had sales last year of $11,500. The cost of goods sold was $6,800, general and administrative expenses were $1,300.

Calculate present value of total outflows : Compute the discount rate. Calculate the present value of total outflows. Calculate the present value of total inflows.

User Account

All Pages