How much must amy invest today

Assignment Help Financial Accounting

Reference no: EM13905640

Amy Monroe wants to create a fund today that will enable her to withdraw $27,260 per year for 7 years, with the first withdrawal to take place 5 years from today. If the fund earns 9% interest, how much must Amy invest today? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

Reference no: EM13905640

Questions Cloud

Explain how purposeful movement enhances learning : Explain how purposeful movement enhances learning? a brief explanation and Discuss how Montessori Nurturesabstract thought, or the imagination in young children

Compute the amount that is charged as an expense : At the beginning of 2014, Aristotle Company acquired a mine for $845,160. Of this amount, $96,400 was ascribed to the land value and the remaining portion to the minerals in the mine. Compute the total amount of depletion for 2014. Compute the amount..

Long-term care insurance policy : Valentino is a patient in a nursing home for 49 days of 2015. While in the nursing home, he incurs total costs of $19,404. Medicare pays $11,642 of the costs. Valentino receives $21,344 from his long-term care insurance policy, which pays while he is..

Important system components in linux kernel subsystems : Organizational, Structural, Logical and Execution Relationships Between Important System Components in Linux Kernel Subsystems

How much must amy invest today : Amy Monroe wants to create a fund today that will enable her to withdraw $27,260 per year for 7 years, with the first withdrawal to take place 5 years from today. If the fund earns 9% interest, how much must Amy invest today?

Contributed equipment with fair market value : Liz contributed $80,000 of cash and land with a fair market value of $90,000 and an adjusted basis of $75,000. John contributed equipment with a fair market value of $170,000 and an adjusted basis of $20,000. John had previously used the equipment in..

Determine what the net income : During its first year of operations, Mack's Plumbing Supply Co. had sales of $3,250,000, wrote off $27,800 of accounts as uncollectible using the direct write-off method, and reported net income of $487,500. Determine what the net income would have b..

How much cash will komiko retain after taxes : How much cash will Komiko retain, after taxes, if she holds the investment for 15 years and then she sells when the long-term capital gains rate is 15 percent?

Motivation for using qualitative test for impairment : Discusses the motivation for using a qualitative test for impairment. Discusses how impairment testing will impact the firm and users of financial statements.

User Account

All Pages