What would be your bank balance when you retire

Assignment Help Financial Accounting

Reference no: EM131215960

You are 55 years old and expect to work for 5 years more, saving Rs 1.25 lac a year. Appropriate interest rate = 10 percent.

(a) If you wish to withdraw Rs 75,000 a year for the following 15 years, how much would you need in the bank 5 years from now?

(b) What is its current worth?

Reference no: EM131215960

Questions Cloud

Draw the schematic for counter portion circuit : Draw the schematic for counter portion of this circuit, complete with IC identifiers and pin numbers associated with each gate. Include the Boolean equation used to control the LOAD input - Design a recycle counter is to use the load capability

Compare the differences in malpractice policy options : Identify and explain any legal implications that exist for failure to adhere to a standard of care. Identify and explain the key elements of malpractice.

Calculate the energy of an electron : The width of the potential well (Fig. 4.2) of an electron can be assumed to be about 2 A. Calculate the energy of an electron (in Joules and in eV) from this information for various values of n. Give the zero-point energy.

Find the present value of all cash flows : The Nirmal Chemical Company is planning to invest in a new plant. Find the present value of all cash flows. How would your answer change if cash flows were to grow at 40 percent per year after year 3 up to the seventh year? Now reduce the life of the..

What would be your bank balance when you retire : You are 55 years old and expect to work for 5 years more, saving Rs 1.25 lac a year. Appropriate interest rate = 10 percent. If you wish to withdraw Rs 75,000 a year for the following 15 years, how much would you need in the bank 5 years from now?

Compare the pathophysiology of chronic venous insufficiency : Explain how the patient factor you selected might impact the pathophysiology of CVI and DVT. Describe how you would diagnose and prescribe treatment of these disorders for a patient based on the factor you selected.

Disclosure requirements for maturities of long-term debt : Access the Accounting Standards Codification and determine the specific citation for each of the following items: Disclosure requirements for maturities of long-term debt. How to estimate the value of a note when a note having no ready market and no ..

Calculate the main lattice vectors in reciprocal space : . Calculate the main lattice vectors in reciprocal space of an fcc crystal.

Capital budgeting is integral part of strategic planning : Capital budgeting is an integral part of the strategic planning and budgeting process of most firms. Explain and provide a numerical example of the use of the internal rate-of-return method and the Net Present Value (NPV) method of analyzing capital ..

User Account

All Pages