For retirement planning-what is the amount you can withdraw

Assignment Help Business Economics

Reference no: EM13996103

1. What is the amount you can withdraw at the end of 20 years if you make $1,500 monthly deposit at a nominal annual rate of 6% compounded monthly?

2. For retirement planning, you decided to deposit $1,000 per month and increase your deposit by $100 per month. How much will you have at the end of 10 years if the bank pays 3% annually, compounded monthly?

3. You make a monthly deposit of $1,000 into a saving account for the next 10 years. How much can you withdraw immediately after your last deposit if your saving account pays 6% per year compounded quarterly?.

Reference no: EM13996103

Questions Cloud

A solution of 2-methyl-1-butanol has a specific rotation : A solution of 2-methyl-1-butanol has a specific rotation of +1.151. What is the ratio of R:S in the sample mixture? [α] =+/- 5.756

What causes a shift in the demand or supply of oranges : On a trip to the grocery store you want to purchase oranges, but the price is pretty high due to the canker disease that has affected the crops. What are your choices? Do you have alternatives? What causes a shift in the demand or supply of oranges (..

The canker disease that has affected the crops : On a trip to the grocery store you want to purchase oranges, but the price is pretty high due to the canker disease that has affected the crops. What are your choices? Do you have alternatives? What causes a shift in the demand or supply of oranges (..

Position of a nations long-run aggregate supply curve : Suppose that the position of a nation’s long-run aggregate supply curve has not changed, but its long-run equilibrium price level has increased. Which of the following factors might account for this event?

For retirement planning-what is the amount you can withdraw : What is the amount you can withdraw at the end of 20 years if you make $1,500 monthly deposit at a nominal annual rate of 6% compounded monthly? For retirement planning, you decided to deposit $1,000 per month and increase your deposit by $100 per mo..

Until the marginal rate of technical substitution reaches : The wall street journal reported that Japan’s No 4 automaker-Mitsubishi Motors- announced a major restructuring plan in an attempt to reverse its 6 percent declining global sales,. Determine the rate at which Mitsubishi can rent capital and the margi..

Consider industry in which two types of managers run firms : Consider an industry in which two types of managers run firms, Genius and Ordinary. There is a fixed supply of 100 genius managers, whereas there is unlimited supply of ordinary managers. Both types of managers are willing to work for a salary of $14..

Bloom had recorded a temporary unrealized loss : Repeat requirement 1, but now assume that, at the end of 2010, Bloom had recorded a temporary unrealized loss (not an OTT impairment) of $100,000 on the Taylor investment.

Atomic number = 6 : Atomic Number = 6, Protons = 6, Electrons = 6, Atomic Weight = 12.0. Electrons in first energy level = 2; second energy level = 4.

User Account

All Pages