What uniform amount can he withdraw from the account

Assignment Help Business Economics
Reference no: EM131807567

Zachary has opened a retirement account that will pay 5% interest each year. He plans to deposit 10% of his annual salary into the account for 39 years before he retires. His first year's salary is $52,000, and he expects the salary to grow 4% each year. How much will be in his account after he makes the last deposit? What uniform amount can he withdraw from the account for 25 years beginning one year after his last deposit? Contributed by Paul R. McCright, University of South Florida

Reference no: EM131807567

Questions Cloud

Contractor estimates maintenance costs : A contractor estimates maintenance costs for a new backhoe to be $275 for the first month with a monthly increase of 0.5%.
What will be the present worth of the fund : what will be the present worth of the fund after 35 years if it earns 5% per year? Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri
What was the intrinsic value per share of options exercised : What was the intrinsic value per share of the options exercised in 2012
Discuss the various types of strategies the firm may use : Discuss the various levels and types of strategies the firm may use to maximize its competitiveness and profitability.
What uniform amount can he withdraw from the account : What uniform amount can he withdraw from the account for 25 years beginning one year after his last deposit? Contributed by Paul R. McCright
Should eddie recommend that purchase of the robot : The robot costs $75,000 installed and will have a salvage value of $5000 after 10 years. Should Eddie recommend that purchase of the robot?
Calculate the value of the relevant test statistic : The following table presents the returns of Fidelity's Select Automotive Fund; the data are also available on the text website, labeled Auto motive.
What is the effective interest rate : What is the effective interest rate? How much interest will he owe in the first month's payment? If he makes monthly payments of $225
Prepare project on mobile communication : Prepare project on Mobile Communication - why they are considered as significant Research problems in computer Science or information technology

Reviews

Write a Review

Business Economics Questions & Answers

  What might have caused those advertisers expenditures

Look at those whose advertising went down by double digits from the prior year. Speculate about what might have caused those advertisers' expenditures to decline.

  Exchange rate at the start of week

Lisa Murphy sees a painting for auction in Japan that is expected to sell for ¥5,000,000. How much money in dollars will that be at the exchange rate at the start of this week? Be sure to check exchange rates when you do this problem. Tell where y..

  Are economies of scale evident in the airline industry

Define economies of scale. Are economies of scale evident in the airline industry? What is the implication for market entry? Airline passengers are broadly segmented by purpose of travel. Characterize the two major segments by price elasticity of dem..

  Effects of equilibrium price level and level of real output

Other things equal, what effects would each of the following have on aggregate demand or aggregate supply? In each case use a diagram to show the expected effects of the equilibrium price level and the level of real output.

  Opportunity cost of producing less

If we assume only one factor (labor), we can demonstrate on the PPF the opportunity cost of producing less of one good and more of the other good by:

  Opportunity cost of spending a day at disneyland

If two people spend the same amount of money for a day at Disneyland (pay the same price for admission, pay the same amount for parking, etc.), then they have the same opportunity cost of spending a day at Disneyland. All else equal, a consumer would..

  Recreational use of marijuana has been declared legal

Recreational use of marijuana has been declared legal in Oregon. How might this information affect the market for marijuana in Oregon?

  Explain how complicated fares and the perception of inequity

Explain how complicated fares and the perception of inequity between two different passengers might hurt the credibility of airlines. Include as much detail as possible in your answer, but focus your answer on who earns frequent flyer rewards, and ho..

  Evaluate the role of executive level

Evaluate the role of an Executive Level BPM Group. Who would be members of that group and how is this group responsible for reducing resistance to change? Deduce at least one method by which the organization can reduce change resistance?

  Call the additional revenue per unit marginal revenue

The price-quantity relationship has been estimated for the new prostate cancer blood test: Q = 4,000 – 20 × P. Use a spreadsheet to calculate the quantity demanded and total spending for prices ranging from $200 to $0, using $50 increments. For each ..

  Regarding the entrepreneurs annual expected profit

An entrepreneur is deciding whether or not to open up a new gym. He currently makes $50,000 per year as a personal trainer and will have to give up this job if he opens the gym. If he opens the gym, it will cost $100,000 per year in rent and other op..

  Reach the cash break-even point

How many units does the firm need to sell to reach the cash break-even point?

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