Mr jones has deposited his life savings of 70000 in a

Assignment Help Econometrics

Reference no: EM13378117

Mr. Jones has deposited his life savings of $70,000 in a retirement income plan with a local bank. The bank pays a. 10%, b. 11.25%, per year, compounded annually, on such deposits. What is the maximum fixed amount Mr. Jones can withdraw at the end of each year and still have the funds last for 15 years? Ans: a.$9,203.16; b. 9,869.27.

Reference no: EM13378117

Questions Cloud

Is there any time where a corporation can deduct losses : is there any time where a corporation can deduct losses incurred from an early sale of an investment against first

The football coach at midwestern university was given a 5 : the football coach at midwestern university was given a 5 year employment contract that paid 225000 the first year and

1 the three fundamental economic questions of what how and : 1. the three fundamental economic questions of what how and for whoma-exist because of scarcity.b-are much more serious

Your company is considering the purchase of new earth : your company is considering the purchase of new earth moving equipment. the total purchase is 240000 and we pay with

Mr jones has deposited his life savings of 70000 in a : mr. jones has deposited his life savings of 70000 in a retirement income plan with a local bank. the bank pays a. 10 b.

The abc company has contracted to make the following : the abc company has contracted to make the following payments 10000 immediately 1000 at the end of year 1 1500 at the

Choose an item that you would like to manufacture you do : choose an item that you would like to manufacture. you do not actually need to manufacture something but will proceed

The supply of paper is described by the following equation : the supply of paper is described by the following equation qs 5000 p..... where qs is tons supplied per year and p is

A malibu boat will cost 32500 when purchased gasoline and : a malibu boat will cost 32500 when purchased. gasoline and maintenance will approximately cost 25hour and equipment

User Account

All Pages