You have $3,200 invested at 7%. You want to withdraw $8,000 at the end of each year, starting at the end of this year. How many years will it take to exhaust your funds, i.e., run the account down to zero?
The number of years is:
Thus, it will take 0.42 years too exhaust funds.
You have $3,200 invested at 7%. You want to withdraw $8,000 at the end of each...
You have $375,000 invested at 7.5% and now you want to retire. You want to withdraw $35,000 at the end of each year, beginning at the end of this year. How many years will it take to exhaust your fund and run it down to $0?
Your Aunt Ruth has $450,000 invested at 6.5%, and she plans to retire. She wants to withdraw $40,000 at the beginning of each year, starting immediately. How many years will it take to exhaust her funds, i.e., run the account down to zero?
10. Your mother has $500,000 invested at 8.0%, and she now wants to retire. She wants to withdraw Ss0,000 at the end of each year. How many years will it take to exhaust her funds (run the account down to zero)? I/Y PV PMT FV
Problem #8 (TVM): Tom's best friend, Joe, works for a company that was just acquired. He lost hi job. Joe was given a severance payment of $365,000, which he invested at a 7.5% annual rate. He now plans to retire, and he wants to withdraw $35,000 at the end of each year, starting at the end of this year. How many years will it take to exhaust his funds, i.e., run the account down to zero?
Your father has $400000 invested at 7 percent, and he wants to retire. He plans to withdraw $55000 at the beginning of each year, starting now. How long will it take to exhaust his funds, i.e., run the account down to zero? Your Answer: Answer units Question 19 (4 points) You have just won a lottery that promises to pay you and your heirs $3500 per year forever, beginning in one year. Since you desperately need the cash today, for...
You have just been given a $454,000, which you decide to invest at an APR of 6.7 percent. If you were to withdraw $38,500 at the end of each year, starting at the end of this year, how many years will it take you to exhaust these funds?
Problem 7-17 You have an IRA worth $150,000 and want to start to make equal, annual withdrawals (i.e., distributions from the account) for 20 years. You anticipate earning 4 percent on the funds. (To facilitate the calculation, assume an ordinary annuity.) Use Appendix D to answer the questions. Round your answers to the nearest dollar. How much can you withdraw each year? $ Since you are earning 4 percent on your investments, how much of the withdrawal consumes your investments?...
You want to withdraw a single sum amount of $6,000 from an account at the end of 7 years. This withdrawal will zero out the account. What single sum of money deposited today is required if the account earns 6% per year compounded annually
You just invested $50,000 into an account that earns 7 percent compounded annually. At the end of each year you can withdraw $4,971. How many years can you continue to make the withdrawals ? a. 12 b.13.5 c.18 d.10
You have an IRA worth $250,000 and want to start to make equal, annual withdrawals (i.e., distributions from the account) for 20 years. You anticipate earning 5 percent on the funds. (To facilitate the calculation, assume an ordinary annuity. a. How much can you withdraw each year? b. Since you are earning 5 percent on your investments, how much of the withdrawal consumes your investments? c. How much will be in the account at the end of the first year?...