The amount which he needs to invest from inheritance is
below:
the factor table we need to use here is PV table for i=9% and n=6
and value is 0.59627
investment amount=345000*0.59627=205713
CALCULATOR FULL SCREEN NEXT Question 1 Chris Fillmore's เสelong cream is to own his own fishing...
Brief Exercise 6-07 Chris Fillmore’s lifelong dream is to own his own fishing boat to use in his retirement. Chris has recently come into an inheritance of $444,400. He estimates that the boat he wants will cost $312,700 when he retires in 6 years. Click here to view factor tables How much of his inheritance must he invest at an annual rate of 10% (compounded annually) to buy the boat at retirement? **Would prefer how it is solved using financial...
Alan Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Alan has recently come into an inheritance of $439,700. He estimates that the boat he wants will cost $317.500 when he retires in 5 years. Click here to view factor tables Assuming quarterly compounding of amounts invested at 12%, how much of Alan Fillmore's inheritance must be invested to have enough a retirement to buy the boat? (Round factor volues to 5 decimal places,...
cucu uron ruAL SCREEN PRINTER VERSİON 'BACK D Question 2 John Filmore's lifeliong dream is to own his own fishing boat to use in his retirement. John has recently come into an inhenitance of $408,600. He estimetes that the boat he wants well cost $330,300 when he retires in 4 years Assuming quarterly compounding of amounts invested at 12%, how much f Oh vested to have enough at etre ent to buy the boat? (Round factor vah es Fa eh...
CALCULATOR FULL SCREEN PRINTER VERSiON BACK NEXT Exercise 6-14 Sheridan, Inc. is a furniture manufacturing company with 50 employees. Recently, after a long negotiation with the local labor union, the company decided to initiate a pension plan as a part of its compensation plan. The plan will start on January 1, 2017. Each employee covered by the plan is entitled to a pension payment each year ater retirement. As required by accounting standards, the controller of the company needs to...