User Account

All Pages

What is the minimum annual return

Assignment Help Financial Accounting
Reference no: EM132971143

Question - Jenny is considering opening an IRA in preparation for her retirement. She plans to save $9,000 per year with the first investment made one year from now (at t=1). She plans to retire in 25 years, immediately after making the last (25th) $9,000 investment. If she hopes to retire having $1,000,000 saved in her retirement account, what is the minimum annual return that her retirement account must earn for the next 25 years?

a. 10.81%

b. 12.45%

c. 11.38%

d. 8.53%

Reference no: EM132971143

Questions Cloud

Show the payoff table for the decision problem : Show the payoff table for this decision problem. Suppose that a company wants to find the impact of upgrading its production technology.
What is the amount of the error : If Company A just lets both errors play out without correcting them, what is the amount of the error they would have in their 2019 cost of goods sold account
What was the cash flow to creditors : What was the operating cash flow for 2020? What was the cash flow to creditors? What was the cash flow from assets for 2020? Is this possible? Explain.
How much will his insurance cover : Personal automobile policy coverage. How much will his insurance cover in each of the following situations? Will he have any out-of-pocket costs
What is the minimum annual return : If she hopes to retire having $1,000,000 saved in her retirement account, what is the minimum annual return that her retirement account must earn
What is breakeven point in sales dollars for sports maniac : How many units would need to be sold to earn an operating income of $100,800? The Sports Maniac Sporting Goods Store sells a baseball and baseball glove set.
Record the journal entry for purchase of printing supplies : At the end of the? year, Speedy had $600 of printing supplies remaining. Record the journal entry for the purchase of printing supplies
What recommendation of financial decisions be proposed : What recommendation of the financial decisions should be proposed for this company based on an analysis of its capital structure and capital budgeting technique
What is the balance of the construction : What is the balance of the Construction in Progress in excess of Progress Billings / (Progress Billings in excess of Construction in Progress) to be presented

Reviews

Write a Review

Financial Accounting Questions & Answers

  What amount of interest expense could be saved for mlx

If MLX is currently paying 9.35% on its line of credit, what amount of interest expense could be saved if the collection float is reduced by 3 days?

  Complete the three-column comparative income statement

Complete the three-column comparative income statement that shows the following. (Round your intermediate calculations and per unit cost answers to 3 decimals.)

  What are us tax consequences of the branch activities

The Swiss franc had an average daily value of $0.50 during Year 1, $0.65 during Year 2, and was worth $0.60 at the end of Year 1, and $0.75 at the end of Year 2. What are US tax consequences of the branch’s activities in Year 1and Year 2?

  What will be the expected return

AT&E has an expected return of 20 percent with a beta of 2.0. What will be the expected return and beta of your portfolio after you purchase the new stock

  Find what will be dollar balances in allowance for doubtful

Arundel Company uses aging to estimate uncollectibles, what will be the dollar balances in the Allowance for Doubtful Accounts? Round to nearest whole dollar.

  Determining the issue price of a bond

Determining the Issue Price of a Bond - On January 1, 2021, R & B Inc. issues $500,000 of 10-year, 4% bonds to yield a market interest rate of 5%

  How may be achieved in the financial service industry

Corporations including those in financial services have obligations towards the planets sustainability. How may be achieved in the financial service industry.

  Holds the benefits of definite dividend calculated

Over the recent holiday you met an individual named Jeff who was raving about the great price they paid for shares of stock in BlueFin Industries. According to Jeff the stock carries a bit of risk in that it can be redeemed by the issuing company, bu..

  What various options are available for investment in capital

Which option/options you would suggest to this financial institution and why? What various options are available for investment in capital market?

  Calculate liquidity current ratio metrics for company

Calculate the following metrics for the company selected for the two most recent years (noted above): Liquidity: Current ratio, Solvency: Debt to assets ratio and Profitability: Return on Assets.

  Prepare journal entries to record the sale of merchandise

On January 1, 2016, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wright received a note requiring payment of $515,000 by Elmira on December 31, 2018. The effective interest rate is 8%. How much sal..

  Schedule of cash payments to know the cash

Notes payable $15,000, Kaur capital $45,000, Singh capital $50,000. Schedule of cash payments to know the cash each partner will receive

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