How many years will your annuity last

Assignment Help Finance Basics
Reference no: EM13260501

Tonia saved $47,000 for college and wish to use $15,000 per year. If you use the money as an ordinary annuity and earn 6.15% on your investment, how many years will your annuity last? Use a calculator to determine your answer.

1. 4.27 years
2. 3.13 years
3. 3.36 years
4. 3.59

 

Reference no: EM13260501

Questions Cloud

What is your investment worth in one year : Suppose you invest $1,000 today, compounded quarterly, with the annual interest rate of 5.00%. What is your investment worth in one year?
Find the speed of the deuteron : A deuteron (the nucleus of an isotope of hydrogen) has a mass of 3.34×10?27kg and a charge of 1.60×10?19C, Find the speed of the deuteron
What is the present value of a lottery paid as an annuity : What is the present value of a lottery paid as an annuity due for twenty years if the cash flows are $250,000 per year and the appropriate discount rate is 7.50%?
What is the de broglie wavelength for an electron : De Broglie postulated that the relationship ? = h/p is valid for relativistic particles. What is the de Broglie wavelength for a (relativistic) electron
How many years will your annuity last : Tonia saved $47,000 for college and wish to use $15,000 per year. If you use the money as an ordinary annuity and earn 6.15% on your investment, how many years will your annuity last? Use a calculator to determine your answer.
Calculate the final speeds of the particles : Two particles with masses 2m and 6m are moving toward each other along the x axis with the same initial speeds vi. Find the final speeds of the particles
Discuss mrs. dalloway by virginia wolf : Discuss Mrs. Dalloway by Virginia Wolf, as a modernist text - what a morning-fresh as if issued to children on a beach.
Analyze the exchange rate risks associated with transaction : Analyze the exchange rate risks associated with transaction, economic, and translation exposure in the Indian market for oil ,gas, energy and exploration efforts.
Find the activity of the radioactive source : A 0.170 kg tumour is being irradiated by a radioactive source. Each decay of the radioactive source produces a particle with an energy of 0.450 MeV. find the activity of the radioactive source

Reviews

Write a Review

Finance Basics Questions & Answers

  Calculate firms expected rate of return

Dothan Corporation stock has a 25 percent chance of producing a 30% return, a 50% chance of producing a 12% return, and a 25% chance of producing a -18 percent return.

  True or false question based on corporate tax

Cardinal, LLC incurred $20,000 of startup costs, $3,000 of organizational costs, and paid $10,000 in transfer taxes to change the title of a building contributed by one of LLC's members.

  Calculate the total return on your investment

what would your return have been if you had invested $1,000 in Big's stock instead of the bond?

  Find value of the stock and expected price

A company paid a dividend of 1.80 per share but the dividend is expected to increase to 4 percent per year. The risk free rate is 6% and the market risk premium is 5 percent.

  Find stock selling price

The risk-free rate of return is 11 percent; the required rate of return on the market is 14%; and Schuler Company's stock has a beta coefficient of 1.5.

  Add value to shareholders of corporations

Rumors about potential mergers are often a hot topic in the business press. One rumor being floated around recently is a potential merger between mobile phone giants T-Mobile and Sprint.

  Show the post-merger integration

Explain what concerns would you have in structuring the deal and the post-merger integration that would be different from the concerns you would have when buying physical capital?

  Calculate break-even output level

Amish Corporation makes wooden play sets. The firm pays annual rent of $350,000 per year and pays administrative salaries totaling $120,000 per year.

  Determine market rate of interest for bond

Determine the market rate of interest for a bond with the following characteristics: the bond pays a 7% coupon (semi-annually),

  Country risk analysis and possible exit strategies

Describe one exit strategy that an organization can use when things go wrong in a foreign country? What are some of the issues which might prompt the implementation of an exit strategy? Summarize the impact of an exit strategy on the strategic pla..

  Determine the annualised cost of the loan

Determine the annualised cost of the loan for each of the following outcomes, assuming interest is based on 90 days and a 365 day year

  Determining accuray ipo

Provide a brief description of Accuray, its main business and operational activities and a short synopsis of the main developments of the company over the past 5 few years.

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!

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