How much will she be able to withdraw at end of each year

Assignment Help Accounting Basics
Reference no: EM131832638

Question - Your client is 33 years old; and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $6,000 per year; and you advise her to invest it in the stock market, which you expect to provide an average return of 11% in the future.

If she follows your advice, how much money will she have at 65? Round your answer to the nearest cent.

How much will she have at 70? Round your answer to the nearest cent.

She expects to live for 20 years if she retires at 65 and for 15 years if she retires at 70. If her investments continue to earn the same rate, how much will she be able to withdraw at the end of each year after retirement at each retirement age? Round your answers to the nearest cent.

Annual withdrawals if she retires at 65 $ ....

Annual withdrawals if she retires at 70 $ ....

Reference no: EM131832638

Questions Cloud

Standard normal distribution : Show that U I V, U live, and IU V V each has a t distribution with one degree of freedom.
Prepare riverbed''s november journal entry : On November 1, it rented storage space to a lessee for 3 months for a total cash payment of $1,860 received in advance. Prepare Riverbed journal entry
Find the fisher information : Suppose that a random variable X has a Poisson distribution for which the mean 0 is unknown (0 > 0). Find the Fisher information /(0) in X.
Analyze the simple cost modeling calculation : Research a recent (within 5 years OK) software defect or hack. Apply the simple cost modeling calculation we reviewed in Lecture 1 and write a 1 page.
How much will she be able to withdraw at end of each year : If her investments continue to earn the same rate, how much will she be able to withdraw at the end of each year
Write program that reads word and prints number of syllables : Write a program that reads a word and prints the number of syllables in the word.
Determine the mean of distribution : Determine a value of c such that the random variable cY win have a X2 distribution. ]0. If a random variable X has a X l distribution with " degrees of freedom
Determining the normal distribution with mean : Suppose that the random variables Xl and X2 are independent, and that each has a normal distribution with mean J.I. and variance a 2.
Known value of the variance : Suppose that each of two statisticians A and B independently takes a random sample of 20 observations from a normal distribution for which the mean

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate the contribution margin per gig

ACC1101 Assignment. David Jones is considering two possible business ownership types - a sole trader or a partnership with Zoe Zig. Advise Jones of the comparative advantages and disadvantages of the two ownership structures being considered. Calc..

  Compute the cost of goods sold and ending inventory

Compute the cost of goods sold and ending inventory, assume (1) is LIFO, LIFO cost flow (2) LIFO cost flow. And (3) weighted average.

  How many states do not impose a state income tax withholding

On which form are your state. city. and county income taxes summarized by your employer on an annual basis? Which of the following statements is used to report payment by an employer to suppliers or contractors?

  Discuss the objective of using probability proportional

Determine the correct expansion factor. Determine the sample size you should use.

  Calculate the corporation income tax liability

Quince Corporation has taxable income of $450,000 for its 2010 calendar tax year. Calculate the corporation's income tax liability for 2010

  Uses the percentage-of-completion method

29. Assume that Gomez uses the percentage-of-completion method of accounting. The portion of the total gross profit to be recognized as income in 2010 is

  Shimmer does not sell any other assets during the year and

shimmer inc is a calendar year end accrual method corporation. this year its sells the following long term

  The accountants and engineers have developed the following

problem letterman office service amp supply sells a variety of office equipment including the executive office chair.

  Amount of dividends received deduction

Eagle Corporation owns stock in Hawk Corporation and has taxable income of $233,000 for the year before considering the dividends received deduction. Hawk Corporation pays Eagle a dividend of $300,000, which was considered in calculating the $233,..

  Influences of anglo-saxon accounting-continental european

Compare the importance of the influences of Anglo-Saxon accounting and continental European accounting in Eastern Europe and in China during the 1990s.

  Review case of the mishima technologies company

Mishima Technologies Company introduced Product X to the market on December 1. The new product carries a one-year warranty. In its first month on the market.

  What is the character and amount of gain or loss recognized

Samson Corporation sold the following during the year: What is the character and amount of gain or loss recognized? Put your response in Excel

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