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Suppose your investment adviser sets up a retirement saving plan for you, with a promise to earning APR=1.2%, compounded monthly?Now suppose you plan to retire in 25 years. If you can afford to contribute USD$4000 monthly to this retirement saving plan for the next 25 years, starting today until your retirement, with a total of 300 (=25*12) monthly retirement fund contributions. The last contribution will be made one month before your retirement.
Problem (a) How much fund can you accumulate on your retirement date? Problem (b) Suppose you expect to live another 20 years after your retirement. With the retirement fund you will accumulate in 25 years (your answer in (a)), you plan to withdraw USD4,500 monthly, starting on the date of your retirement (25 years from now), for another 20 years (total 360 withdraws). How much money will be left on your retirement saving plan account 45 years from now?
Annuity factor for 5 years at 6% is 4.2124. The present value of a single sum factor for 5 years at 6% is .7473. The annual annuity payments equal
When preparing the statement or schedule of revenues, expenditures, and changes in fund balance on the budgetary basis, how are encumbrances outstanding at year-end treated if they will be honored in the upcoming year?
Flag prepares monthly financial statements. Flag promises the customers a new model ship if they are unhappy at any time in the first 2 years after the purchase. Flag estimates that 6% of the ships need replaced, on average.
The company will loan you $5,000 today in exchange for one payment of $5,600 one year from now. What is the APR on this loan?
Which statements is correct for a company that uses the FIFO costing formula with a perpetual inventory system (compared to a periodic system)?
Washburn Company produces earbuds. During the year, manufacturing overhead costs were $234,000. Machine usage was 2,700 hours. The company assigns overhead based on machine hours. Job No. 551 used 90 machine hours. Compute the predetermined overhead ..
What is the amount needed to establish reciprocity under the cost method in the preparation of a consolidated workpaper on December 31, 2014?
Calculate the amount of return you would earn if the $12,000 were invested for one year at 5%. Calculate the net amount of return you would earn if $3,000 were borrowed at a cost of 15%, and then $15,000 were invested for one year at 8%.
Company C earned -2.25 percent. If you have a portfolio made up of 35 percent Y, 40 percent R, and 25 percent C, what is your portfolio return?
Sharam industries has a 120-day operating cycle. If its average age of inventory is 50 days, how long is its average collection period?
Determine the liability for gift certificates to be reported in the December 31, 2013 balance sheet. What is the appropriate classification (current or noncurrent) of the liabilities at December 31, 2013?
Calculate at least three profitability ratios for each company, such as gross profit margin, net profit margin, return on assets, or operating profit margin.
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