How much must the balance of the fund equal on June

Assignment Help Accounting Basics
Reference no: EM132851003

Question - Adams Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 12% basis that will enable him to withdraw $15,910 per year on June 30, beginning in 2024 and continuing through 2027. To develop this fund, Adams intends to make equal contributions on June 30 of each of the years 2020-2023.

Required -

1. How much must the balance of the fund equal on June 30, 2023, in order for Adams to satisfy his objective?

2. What are each of Adams's contributions to the fund?

Reference no: EM132851003

Questions Cloud

How can ict be a tool in connecting all stakeholders : How can ICT be a tool in connecting all stakeholders in your community?
Discuss community and public health challenges : Discuss community and public health challenges to improving health outcomes. Illustrate an interdisciplinary approach to improve health outcomes of community
Poverty and dietary calcium : Poverty and Dietary Calcium. Calcium is the most abundant mineral in the human body and has several important functions. Most body calcium is stored
Malfunctioning equipment : You are the manager of a large foodservice facility that has some old, malfunctioning equipment.
How much must the balance of the fund equal on June : How much must the balance of the fund equal on June 30, 2023, in order for Adams to satisfy his objective
Economics-Final Project Milestone-Organizational Analysis : You selected an organization to analyze from the U.S. Securities and Exchange Commission's EDGAR database and received approval
Determine the electability of people running for office : Similar studies have been conducted in the area of political science to determine the electability of people running for office. What do you think
What cash flow must the investment provide : You have been offered a 5-year investment at a price of $84,124.25. What cash flow must the investment provide at the end of each of the final 3 years
What is the dividend yield : Shares of ABT stock offer an expected total return of 14.6 percent. What is the dividend yield if the dividend increases by 2.8 percent annually

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the 2012 form 1040 and all other required federal

1. prepare the 2012 form 1040 and all other required federal forms and schedules for brett simons. the returns

  Do you think the investor will prevail

Now assume that instead of applying for a bank loan, Given the violations I discussed in my solution to the week 1 homework, do you think the investor will prevail?

  What audit procedures would have detected the fraud

At closing the supervisor deposits cash equal to the recorded sales on the POS system and keeps the rest. What audit procedures would have detected the fraud

  Jones mining company plans to sell 120000 units of a

jones mining company plans to sell 120000 units of a certain product line at a price of 6. there are 10000 units of the

  Solve the cost of each capital component-in other words

Solve the cost of each capital component-in other words, the after-tax cost of debt, the cost of preferred stock (including flotation costs)

  Included in a set of budgetary instructions

What information should be included in a set of budgetary instructions?

  What the work of factory employees that can be physically

What the work of factory employees that can be physically and directly associated with converting raw materials into finished goods is

  Prepare an amortization table for this installment note

on january 1 2014 zinn company obtained a 39000 four-year 10 installment note from fidelity bank. the note requires

  Accountants close revenue, expense, drawing accounts

At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required and (2) provide an example of the closing of an expense account, Supplies Expense in the form of a journal entry.

  Amount of the interest expense

A borrower has two alternatives for a loan: (1) issue a $660,000, 90-day, 9% note or (2) issue a $660,000, 90-day note that the creditor discounts at 9%. Assume a 360-day year.

  How can internal auditors maintain independence

How can internal auditors maintain independence, since they are employees of the company?

  What project would you recommend pursuing

Situation: A college is determining which projects to pursue in 2020. What project would you recommend pursuing based on a Payback Period Analysis

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