Homework Answers
| We have to use financial calculator to answer this question | ||||
| Put in calculator below | ||||
| PV | -33000 | |||
| I | 8.5% | |||
| N | 14 | |||
| FV | 0 | |||
| Compute PMT | $4,119.80 | |||
| Annual income = | $4,119.80 | |||
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sieg ied Basset is 65 years of age and has a e expectancy o 14 more...
velue: 10.00 points Siegfried Basset is 65 years of age and has a life expectancy of...
velue: 10.00 points Siegfried Basset is 65 years of age and has a life expectancy of 11 more years. He wishes to invest $20,700 in an annuity that will make a level payment at the end of each year until his death. If the interest rate is 8.0%, what income can Mr. Basset expect to receive each year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual income Reterences Book & Resources 徘鲥割% 1d.sesegmes Worksheet Difmiculity:...
a. The cost of a new automobile is $11,900 lf he interest rate is 4%, how...
a. The cost of a new automobile is $11,900 lf he interest rate is 4%, how much would you have to set aside now to provide this sum in four years? Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value b, You have to pay $15,000 a year in school fees at the end of each of the next five years. If the Interest rate is 7%, how much do you need to set aside...
Kangaroo Autos is offering free credit on a new $12,500 car. You pay $500 down and...
Kangaroo Autos is offering free credit on a new $12,500 car. You pay $500 down and then $400 a month for the next 30 months. Turtle Motors next door does not offer free credit but will give you $1,190 off the list price. a. If the rate of interest is 0.83% a month, calculate the present value of the payments to Kangaroo Autos. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not...
Suppose the projections of male life expectancy at age 65 years in the United States are summariz...
Suppose the projections of male life expectancy at age 65 years in the United States are summarized in the following table (x = 0 corresponds to 2000). Year, x 0 10 20 30 40 50 Years beyond 65, y 15.6 16.8 17.6 18.9 19.3 20.3 (a) Find an equation of the least-squares line for these data. (Round your coefficients to three decimal places.) y = (b) Use the result of (a) to estimate the life expectancy at 65 of a...
Arnold Atkinson wants to retire in 20 years at age 65. He has determined that he...
Arnold Atkinson wants to retire in 20 years at age 65. He has determined that he will need a capital sum of $2,784,000 at that time to provide his retirement income. He presently has a retirement plan with a balance of $350,000, to which he will add $25,000 per year. Phil assumes that his preretirement and postretirement rates of return will be 8%, and that inflation will average 3%. He will not consider Social Security benefits in his planning. He...
Your client is 30 years old. She wants to begin saving for retirement, with the first...
Your client is 30 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $3,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 11% in the future. If she follows your advice, how much money will she have at 65? Do not round intermediate calculations. Round your answer to the nearest cent. How much...
eBook Your client is 28 years old. She wants to begin saving for retirement, with the...
eBook Your client is 28 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 12% in the future. a. If she follows your advice, how much money will she have at 65? Do not round intermediate calculations. Round your answer to the nearest cent....
Your client is 28 years old. She wants to begin saving for retirement, with the first...
Your client is 28 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 7% in the future. a. If she follows your advice, how much money will she have at 65? Do not round intermediate calculations. Round your answer to the nearest cent. b....
Earned and Unearned Income (LO. 2) Duc has been employed by Longbow Corporation for 25 years....
Earned and Unearned Income (LO. 2) Duc has been employed by Longbow Corporation for 25 years. During that time, he bought an annuity at a cost of $50 per month ($15,000 total cost). The annuity will pay him $200 per month after he reaches age 65. When Duc dies, his wife, Annika, will continue to receive the annuity until her death. Duc turns 65 in April 2019 and receives 8 payments on the contract. Annika is age 60 when the...
George (age 42 at year-end) has been contributing to a traditional IRA for years (all deductible...
George (age 42 at year-end) has been contributing to a traditional IRA for years (all deductible contributions) and his IRA is now worth $28,600. He is planning on transferring (or rolling over) the entire balance into a Roth IRA account. George’s marginal tax rate is 24 percent. (Leave no answer blank. Enter zero if applicable. Round your intermediate calculations and final answers to the nearest whole dollar amount.) a. What are the tax consequences to George if he takes $28,600...
velue: 10.00 points Siegfried Basset is 65 years of age and has a life expectancy of 11 more years. He wishes to invest $20,700 in an annuity that will make a level payment at the end of each year until his death. If the interest rate is 8.0%, what income can Mr. Basset expect to receive each year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual income Reterences Book & Resources 徘鲥割% 1d.sesegmes Worksheet Difmiculity:...
a. The cost of a new automobile is $11,900 lf he interest rate is 4%, how much would you have to set aside now to provide this sum in four years? Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value b, You have to pay $15,000 a year in school fees at the end of each of the next five years. If the Interest rate is 7%, how much do you need to set aside...
Kangaroo Autos is offering free credit on a new $12,500 car. You pay $500 down and then $400 a month for the next 30 months. Turtle Motors next door does not offer free credit but will give you $1,190 off the list price. a. If the rate of interest is 0.83% a month, calculate the present value of the payments to Kangaroo Autos. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not...
eBook Your client is 28 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 12% in the future. a. If she follows your advice, how much money will she have at 65? Do not round intermediate calculations. Round your answer to the nearest cent....
Your client is 28 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 7% in the future. a. If she follows your advice, how much money will she have at 65? Do not round intermediate calculations. Round your answer to the nearest cent. b....
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