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Your friend is celebrating her 23rd birthday today and wants to start saving for her anticipated retirement at age 63. She estimates that the annual spending needs would be $300,000 based on the current price level, and inflation rate is expected to be 5% per year. She wants to be able to make withdrawal for spending needs on each year for 22 years following her retirement; the first withdrawal will be on her 64th birthday. In the year that she make her last withdrawal, she also want to be able to withdraw $5,000,000 as an inheritance for her children. Your friend intends to invest her money in a conservative fund, which offers 6 percent interest per year after retirement. Before retirement, your friend invests in stock funds, which offers 9% interest per year. Your friend's employer will contribute an amount, equal to 8% of her salary, to a pension fund, which generate 5% annual return. Your friend can get back all money in the pension fund in her 63rd birthday. In addition, your friend expects to spend $600,000 for down payment of her apartment on her 30th birthday. She will get $240,000 + $ 55000 annual salary in 24th birthday, and the salary is expected to be increase at 4%. The last salary will be paid on her 63rd birthday.
Problem 1: If she starts making these deposits on her 24th birthday. What proportion of salary should her save each year?
On January 1, 2014, 90% of Power Co. was purchased, Under the equity method, what is the balance of the Investment Income account on December 31, 2020?
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Assume Simple Co. had credit sales of $240,000 and cost of goods sold of $140,000 for the period. Simple uses the percentage of credit sales method and estimates that 1 percent of credit sales would result in uncollectible accounts. Before the end-of..
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you have been hired to perform an investment analysis for a high net worth individual to determine if they should
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