User Account

All Pages

How much will need to save each year

Assignment Help Managerial Accounting
Reference no: EM132478976

A couple will retire in 50 years; they plan to spend about $38,000 a year in retirement, which should last about 25 years. They believe that they can earn 9% interest on retirement savings.

Question a. If they make annual payments into a savings plan, how much will they need to save each year? Assume the first payment comes in 1 year. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Question b. How would the answer to part (a) change if the couple also realize that in 20 years they will need to spend $68,000 on their child's college education? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Reference no: EM132478976

Questions Cloud

Determine spruce decor profits to be in 2013 : Consider the revenues and costs in 2013 for Spruce Decor Inc., an Alberta- based furniture company entirely owned by Mr. Harold Buford.
What was the annual compound rate of growth in the price : What was the annual compound rate of growth in the price of apples? (Do not round intermediate calculations. Enter your answer as a percent rounded)
How does the money multiplier help : How does the money multiplier help to determine the effects of monetary policy?
How much will grow to if invested at a continuously : How much will $100 grow to if invested at a continuously compounded interest rate of 9% for 8.5 years? (Do not round intermediate calculations)
How much will need to save each year : How would the answer to part (a) change if the couple also realize that in 20 years they will need to spend $68,000 on their child's college education?
What was real income : What was her real income in 2017 in terms of constant 1950 dollars? Use the data in Table below (Round your answer to 2 decimal places.)
How do figure out ending inventory and cost of goods sold : Alpha Company uses the periodic inventory system for the month of May 2016 How do figure out ending inventory and the cost of goods sold?
Make the right decision regarding hiring : It pays its workers a wage of $150 per day. Which statement will help the firm make the right decision regarding hiring a 31st worker?
Draw a supply and demand diagram : Draw a supply and demand diagram for the Corn market showing this equilibrium.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Manage budgets and financial plans

Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.

  Prepare a retained earnings statement

Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.

  Prepare a master budget for the three-month period

Prepare a master budget for the three-month period.

  Construct the companys direct labor budget

Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.

  Evaluate the predetermined overhead rate

Evaluate the Predetermined Overhead Rate

  Determine the company''s bid

Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.

  Compute the pool rates for the different activities

Complete the schedule to compute the pool rates for the different activities.

  Prepare Company financial statements

Prepare Company financial statements

  Prepare an analysis of terracycles

This individual assignment is based on the TerraCycle Inc.

  Discuss the ethical issues

Discuss the ethical issues

  Political resources in emerging markets

Calculate the GDP in Income Approach  and Expenditure Approach

  Management accounting - ehsan electronics company

A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.

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