User Account

All Pages

How much will his savings be

Assignment Help Financial Accounting
Reference no: EM132944138

Question - Over the past several years, Mr Lee has been able to save regularly. As a result, today he has $14,188 savings. He wants to establish her retirement fund in 5 years and feels he will need $50,000 to do so. If he can earn 12% p.a. on his money, how much will his $14,188 savings be worth in 5 years? Will Mr Lee have $50,000 he needs? If not, how much more money will he need?

Reference no: EM132944138

Questions Cloud

Explain the challenges face by public sectors in Australia : Thoroughly explain the challenges face by the public sectors in Australia? In detail form, explain the administrative challenge face by enterprises in states
What end-of-month payments for the next fourteen months : What end-of-month payments for the next fourteen months should you be willing to accept instead of the lump payment if you can invest the funds
Determine the company production requirements : Ending inventory at that time was 7,000 units. Determine the company's production requirements for each month of the first quarter of 2011
Solve total variable cost per unit and fixed expenses : How do Advise JBSB's management on whether they should implement the proposal outlined above for the year 2019. (Show profit comparison).
How much will his savings be : If he can earn 12% p.a. on his money, how much will his $14,188 savings be worth in 5 years? Will Mr Lee have $50,000 he needs
How will the above transactions be presented : Lamb sold vehicles with a carrying amount of $12,000 for $15,000 cash. How will the above transactions be presented under the heading 'investing activities'
What is the cost of goods manufactured for boboy company : Boboy Company manufactures fishing rods. At the beginning of July, What is the cost of the direct materials used in production during July?
Compute top net cash used in investing activities : Purchased real estate for P550,000 cash which was borrowed from the bank. Compute Top's net cash used in investing activities for 2020
How long will take end-of-month deposits : How long will it take end-of-month deposits of $250 to accumulate $10,000 in an investment account that earns 6.25% compounded monthly?

Reviews

Write a Review

Financial Accounting Questions & Answers

  What is the dollar amount of remaining performance

In their December 31, 2020 Financial Statements, what is the dollar amount of remaining "performance obligations" that Luxury Vacation should report?

  What are are the benefits of income protection

What are are the benefits of income protection? Drawbacks of income protection. what investment choices may be used for income protection?

  What is the vail book mart net income for the year

What is the Vail Book Mart's net income for the year? What is the total amount of sales tax Vail Book Mart collected and paid for the year?

  Which statements regarding the reconciliation of accounting

Which statements regarding the reconciliation of accounting income before tax to taxable income is true? Accounting and tax items that will be recorded

  Make to record the foreign currency adjustment

Make To record the foreign currency adjustment at the settlement of the contract and To record the entering of the purchase contract

  Which instruments is the most similar to a warrant

Which instruments is the most similar to a warrant? If there is absolutely no connection between islands, which callable bonds will be more expensive?

  What dollar amount fees earned should we record

We will earn $12,000 per month. We will receive payment for our services on July 15, 2016. What dollar amount fees earned should we record

  How much will harry have at the end of the fifth year

How much will harry have at the end of the fifth year if he invests his bonuses (including the most recent bonus) in a project paying 8% per year?

  Journalize entries to record the selected transactions

Entries for issuing and calling bonds - The fiscal year of the company is the calendar year. Journalize the entries to record the selected transactions

  What is the annual carrying costs of post card inventory

The ordering cost is $200 per order. What is the annual carrying costs of post card inventory (round the answer to two decimal places)

  The bank gets its full future value

Suppose you borrow buy a $200000 hours, and put $50,000 down toward the purchase price. You borrow the rest from a bank at 6% annual interest, compounded monthly, on 1.1.16,for a 30-years period. The plan is that you pay on the last day of each month..

  Why is important to consider the consequences of taxes

Why is it important to consider the consequences of taxes when financing a new project? Can you think of a situation in your own personal finances

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