What must the contributions be

Assignment Help Financial Accounting
Reference no: EM132809980

Problem 1: Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 72.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 72.0 when he fully retires, he will wants to have $2,536,421.00 in his retirement account. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assume a 8.00% interest rate.

Reference no: EM132809980

Questions Cloud

What is the target variable cost per mouse : If the company desires to make a profit $2,000,000 on the mouse, what is the target variable cost per mouse? Round to two decimal places
Functions of carbohydrates in human body : CARBOHYDRATES: Functions of carbohydrates in human body; dietary sources of carbohydrates; types of cabrs you should/should not eat and why; what is "Glycemis i
What should be the required rate of return : For the Bedal Corporation with a beta of 1.26, what should be the required rate of return if the market risk premium is 7.9% and the risk-free rate is 3.4%
What is the most crucial moral issue : What is the most crucial moral issue associated with measuring employee performance?
What must the contributions be : He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be?
Recommended compartive human reszsorce metrics : What are the recommended compartive Human Reszsorce Metrics for a mid-size company of 1000 to 3000 employyes?
Describe six sigma and balanced scorecard approaches : Describe the six sigma and balanced scorecard approaches to evaluation and how each could be used to assess the effectiveness of the recruiting
Prepare journal entries to record transactions for polarid : Prepare journal entries to record the transactions for Polaris Company. Accrued direct labor cost of $48,000 and indirect labor cost of $21,000.
Improve the safety of the production line : The union at Clearwater Electronics reported a major safety issue at the company and worked with the HR director to draft a document to improve the safety of th

Reviews

Write a Review

Financial Accounting Questions & Answers

  Find what are earnings per share on common stock for year

Balance sheets for Kellman Company, if net income is $250,000 and interest expense is $30,000 for Year 2, what earnings per share on common stock for Year 2?

  Financial statement analysis general description

Financial Statement Analysis General Description

  How would a society decide the optimal level

Accordingly, discuss how would a society decide the optimal level of informational efficiency? Is this a technical or a political problem?

  What is the estimated beta coefficient of your company

Do you feel that the three-stock portfolio is sufficiently diversified or does it still have risk that can be diversified away? Explain

  Calculate bad debts under each given method

Jacobian Steel Manufacturing sells bulk steel products for maritime construction. Which method should they use and why? Calculate bad debts under each method and find the method closest to the actual bad debts.

  Prepare a properly formatted statement of cash flows

Fannin Company is a manufacturer of premium athletic equipment. Prepare a properly formatted statement of cash flows using the indirect method.

  What the par value of the stock was

When the market value was P65 per share. Prior to the split, Daniel had 200,000 shares of P15 par value stock. After the split, the par value of the stock was

  Elucidate how choice of the type of responsibility center

Elucidate how the choice of the type of responsibility center affects behaviour. You should support your discussion by using real world examples.

  Least amount of carbon dioxide emissions

You are a Volkswagen executive deciding which is the best way to improve the environment, after your plans for the sale of large numbers of diesel-powered cars were shelved. Calculate and explain which option produces the least amount of Carbon Dioxi..

  The temperature was affetcing the production rate

A six sigma project was done and it was found that the temperature was affetcing the production rate. The initial project measured the production rate trend to identify the potential reasons of concern. If you has to decide which parameter you need t..

  What stock price if an investor wants return of six percent

What is the? stock's price if an investor wants a return of 6?%? King Waterbeds has an annual cash dividend policy that raises the dividend

  Provide the journal entries necessary at dates to account

Provide the journal entries necessary at the 01/07/2015 dates to account for the above transactions and events. (Ignore narrations).

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