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Use the Annual Payout Annuity with COLA Formula to find the deposit necessary to receive monthly payouts with an annual cost-of-living adjustment. To use the formula, all figures must be annual figures, including the payout and the annual rate. You can adapt the formula for monthly payouts by using • the future value of a one-year ordinary annuity in place of the annual payout, where pymt is the monthly payout, and • the annual yield of the given compound interest rate in place of the annual rate r. Gary Kersting is about the retire, so he is setting up a payout annuity with his bank. He wishes to receive a monthly payout for the next twenty years, where the payout starts at $1,100 per month and receives an annual COLA of 4%. His money will earn 8.7% compounded monthly. (a) The annual payout is the future value of a one-year ordinary annuity. Find this future value. (Round your answer to the nearest cent.) $ (b) The annual rate r is the annual yield of 8.7% interest compounded monthly. Find this annual yield. (Round your answer to seven decimal places.) % (c) Use the Annual Payout Annuity with COLA Formula to find how much money he must deposit. (Round your answer to the nearest cent.) $ (d) Gary could have saved for his payout annuity with an ordinary annuity. If he had started doing so twenty-five years ago, what would the required monthly payments have been? (The two annuities pay the same interest rate. Round your answer to the nearest cent.) $
Which of the following is a source of cash? Information that can make a difference to the decision at hand is considered to be. Which of the following increases cash. Which of the following ratios measures operating performance?
The finance department is evaluating two accounts receivable transaction processing system. Accuracy of weekly accounts receivable aging report.
Which of the following types of risk is diversifiable?
what is the cash-on- cash rate of return (equity dividend rate) for the equity investors in this property?
problem 1budgets in managerial accountingsantiagos salsa is in the process of preparing a production cost budget for
The cash futures price of a 3-month zero coupon bond with a face value of $100 for delivery in 9.38 months from now is 96.31 dollars. Suppose that the current spot interest rate for a term of 12.38 months is 15.75 per cent per annum.
Assume you bought an asset for $5,000. It was sold for $3,000 at the end of its second year of operation. If it is depreciated according to 3 year MACRS, what is the after-tax cash flow associated with this sale? Assume your tax rate is 20%.
If you currently own 6,000 shares of stock in the company and decide not to participate in the rights offering, how much money can you get by selling your right
Venus wants to create a scholarship fund that will make its first scholarship payment in 7 years from today.
Securities gains (losses if negative) 10.737, Taxes 41.997. What is Castle State Bank's net profit margin?
Initially firm x has a beta of 1.3, when Rrf=7% and Rm=12 percent. The firm now sells 10 percent of its assets (Beta=1.2) and uses the proceeds to purchase another asset, a machine with a beta of .8. What is the required rate of return on the machine..
Your credit card company charges you 1.18 percent per month. What is the annual percentage rate on your account?
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