How much did clary withdraw each year

Assignment Help Financial Management
Reference no: EM131867931

Clary made a deposit of $34821 each year for 12 years into an account paying 2% compounded annually. She stopped making deposits and let the money accrue interest. At the end of year 24, she began to make equal yearly withdrawals for 11 years. How much did Clary withdraw each year? Enter your answer as: 1234 Round your answer. Do not use a dollar sign ("$"), any commas (",") or a decimal point ("."). Hint: When calculating the withdrawal part of the problem, remember the "P" must be one time period before the first "A".

Reference no: EM131867931

Questions Cloud

What is the net present worth for this new computer system : Kermit is considering purchasing a new computer system. What is the net present worth for this new computer system?
Prepare quantitative comparison of the traditional : Prepare a quantitative comparison of the traditional and activity-based cost assignments.
Monthly end-of-month payments during her retirement : Assuming the annuity is purchased at 6% converted monthly, what is the amount of her monthly end-of-month payments during her retirement?
What percentage of company is financed with debt : What percentage of Company, Inc. is financed with debt? What is the WACC for Company, Inc.?
How much did clary withdraw each year : Clary made a deposit of $34821 each year for 12 years into an account paying 2% compounded annually. How much did Clary withdraw each year?
The cash provided by investing activities : Based on the above information, the cash provided (used) by investing activities for the year on the statement of cash flows would net to:
Find the amount of the second deposit : Joe deposited $10,000 on September 1, 2017 into a savings account earning an effective annual interest rate of 8%, Find the amount of the second deposit.
What should be the company stock price today : Using the corporate valuation model, what should be the company's stock price today (December 31, 2013)?
What is current share price : If the required return is 15 percent, and the company just paid a dividend of $3.55, what is the current share price?

Reviews

Write a Review

Financial Management Questions & Answers

  Dividend payment-what is required return

The next dividend payment by Blue Cheese, Inc., will be $1.56 per share. what is the required return?

  Opened a margin account-local brokerage firm

You’ve just opened a margin account with $15,000 at your local brokerage firm. You instruct your broker to purchase 800 shares of Landon Golf stock, which currently sells for $62 per share. Suppose the call money rate is 5.5 percent and your broker c..

  How much does the average homeowner pay in property taxes

how much does the average homeowner pay in property taxes?

  The required rate of return in the market

Assume that you are the portfolio manager of the Maryland Fund, a $6 million mutual fund that contains the following stocks: The required rate of return in the market is 12.2% and the risk-free rate is 5.50%. What rate of return should investors expe..

  Project has expected cash inflows

A project has expected cash inflows, starting with year 1, of 2200, 2900, 3500, and finally in year 4 4000. The profitability index is 1.14 and the discount rate is 12 percent. What is the initial cost of the project?

  Invest in a portfolio containing stock

You have $102,000 to invest in a portfolio containing Stock X, Stock Y, and a risk-free asset. You must invest all of your money. Your goal is to create a portfolio that has an expected return of 11 percent and that has only 80 percent of the risk of..

  Create delta-neutral position

A put option has a delta of -0.3. A trader has bought 1000 options and wants to create a delta-neutral position.

  What was rate of return from investing in the stock

If during the year you receive a dividend of $2.50 and IBM stock is selling for $130 at the end of year, what was your rate of return from investing in the stock?

  Employing passive-voice verbs

Employing Passive-Voice Verbs. YOUR TASK Revise the following sentences to present the bad news with passive-voice verbs.

  Labor savings and depreciation

Filkins Fabric Company is considering the replacement of its old, fully depreciated knitting machine. Two new models are available: Machine 190-3, which has a cost of $215,000, a 3-year expected life, and after-tax cash flows (labor savings and depre..

  Conviction about the stock price future movements

The common stock of the P.U.T.T. Corporation has been trading in a narrow price range for the past month, and you are convinced it is going to break far out of that range in the next 3 months. What would be a simple options strategy to exploit your c..

  By getting closer to the source of payment

By getting closer to the source of payment, lockboxes can be used to reduce:

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