User Account

All Pages

How much money will mr burns need when he retires

Assignment Help Accounting Basics
Reference no: EM133187697

Question - Future value of a complex annuity - Spring?eld mogul Montgomery Burns. age 85, wants to retire at age 100 so he can steal candy from babies full time. Once Mr, Burns retires, he wants to withdraw $0.9 billion at the beginning of each year for 6 years from a special offshore account that will pay 27 percent annually. In order to fund his retirement, Mr. Burns will make 15 equal end-of-the-year deposits in this same special account that will pay 27 percent annually. How much money will Mr. Burns need at age 100, and how large of an annual deposit must he make to fund this retirement account?

a. If the retirement account will pay 27 percent annually. How much money will Mr. Burns need when he retires?

b. How large of an annual deposit must he make to fund this retirement account?

Reference no: EM133187697

Questions Cloud

Sylvain beauchamp lives in ottawa and works for an ontario : Sylvain Beauchamp lives in Ottawa and works for an Ontario retailer with stores in Ottawa, Kingston, and Hull, PQ. His standard work week has him working 8 hour
Discuss the circumstances of the incident : Locate a news article about an organization who experienced an ethical issue related to communication.
Need and opportunities for waged workers : The topic of the argument: "Mechanization (for example robotics) does not in itself reduce the need and opportunities for waged workers."
Interesting aspects of the business : The idea behind putting together a business plan is to enable owners to have a more defined picture of potential costs and drawbacks to certain business decisio
How much money will mr burns need when he retires : If the retirement account will pay 27 percent annually. How much money will Mr. Burns need when he retires
Reit valuation spreadsheet : Consider the REIT valuation spreadsheet presented in class. For each of the following scenarios, and all other things equal, determine whether each scenario wil
Measurement guide for emerging market potential : 1. Setting aside politics and concentrating on culture and consumers, briefly explain 4 factors that make Turkey attractive for fashion-related FDI ( Foreign Di
How did the leader you chose handle conflict : Analyze the leadership styles of one leader from history. What are the positive and negative attributes of each of his or her leadership styles
How much will you have in eight years : When you receive it, you will invest it for six more years at 7.1 percent per year. How much will you have in eight years

Reviews

Write a Review

Accounting Basics Questions & Answers

  Define design and effective capacity

Explain why doubling the capacity of a bottleneck may not double the system capacity? explain the concept of Throughput time and Bottleneck.

  How much cash should gina receive

They share profits in the ratio of 4:4:2. Assuming P3,000 cash is withheld for possible liquidation expenses, how much cash should Gina receive

  What is the effect on income

Babalwa Industries manufactures 20 000 components per year. What is the effect on income if Babalwa Industries purchases the component

  What the non-controlling interest in the subsidiary income

Rojas Co. owned 7,000 shares (70%) of the outstanding 10%, what was the non-controlling interest in the subsidiary's income

  What are the total fixed costs for strait co

In the month of lowest production the company made 1,125 desks at a cost of $38,000. Using the high-low method of cost estimation, the total fixed costs are

  What does the balance sheet tell you about the company

What information is provided in the statements that will assist you in making these business decisions? What information is not provided that could assist in managerial decision making?

  Crawford company has total proceeds before segregation of

crawford company has total proceeds before segregation of sales taxes from sales of 4770. if the sales tax is 6 the

  What is the payback period of the project

What is the net present value (NPV) and internal rate of return (IRR) for the investment?Would you recommend that King's sugar go ahead with making investment

  What effect does this transaction have on net income

The treasury stock purchased in the above question was resold by Chen, Inc. for $15,000. What effect does this transaction have on (a) net income

  Compute the cost of ending inventory based on fifo method

Refer to the above data. Compute the cost of the ending inventory based on the FIFO method of inventory valuation.

  What is cost of goods sold

Manufacturing overhead has an underallocated balance of $12,400; and cost of goods sold is $170,000. What is cost of goods sold

  What is the necessary journal entry to record transactions

Assuming that the March 1 transaction did not happen, what is the necessary journal entry to record the above transactions

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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