Chandler invested his hard earned money these past 15 years and now has $1,000,000 investment portfolio,...
Chandler invested his hard earned money these past 15 years and now has $1,000,000 investment portfolio, and he wishes to make sure he can withdraw $87,500 per year. If his portfolio continues to earn at least 6% annually, how long will Chandler be able to withdraw the full amount?
A).11.43 years
B). 14.17 years
C). 19.86 years
D). 23.08 years
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
Chandler invested his hard earned money these past 15 years and now has $1,000,000 investment portfolio,...
QUESTION 5 Ali earned a return on his investment worth $4,212. Calculate the money he invested...
QUESTION 5 Ali earned a return on his investment worth $4,212. Calculate the money he invested ten years ago? Interest rate was fixed at 12%, compounded annually. (Hint: Return on Investment (ROI) = Total future worth of invested money - present worth of money invested) CA. $1,000 B. $2,000 C. $2,058 D. $1,356 QUESTION 6 A $24,000 student-loan debt was placed at the end of Peter's college career with the interest rate of 1% per month. How many months will...
Your grandmother invested $2,300 for you on the day you were born. This investment has earned...
Your grandmother invested $2,300 for you on the day you were born. This investment has earned an average of 13.8 percent annually. How old are you if the investment is now worth $18,642? O 14.36 years 14.58 years 15.15 years 16.19 years You just inherited $7100 which you are investing at 7.25 percent interest. How long will you have to wait un your account reaches a value of $12,000 O 6.96 years O 8.34 years O 7.50 years O 8.55...
Dean has earned $70,250 annually for the past six years working as an architect for WCC...
Dean has earned $70,250 annually for the past six years working as an architect for WCC Inc. Under WCC's defined benefit plan (which uses a 7-year graded vesting schedule) employees earn a benefit equal to 4.0% of the average of their three highest annual salaries for every full year of service with WCC. Dean has worked for six full years for WCC and his vesting percentage is 80%. What is Dean's vested benefit (or annual retirement benefit he has earned...
Parker is 50 and wants to retire in 15 years. His family has a history of...
Parker is 50 and wants to retire in 15 years. His family has a history of living well into their 90s. Therefore, he estimates that he will live to age 95. He currently has a salary of $120,000 and expects that he will need about 65% of that amount annually if he were retired. He can earn 9 percent in his portfolio while he is working. However, he expects that he will only earn 7 percent in his portfolio during...
A recent college graduate has been saving money for the past 5 years to buy his...
A recent college graduate has been saving money for the past 5 years to buy his dream car. He has deposited $4,200 at the end of each year and is making the last deposit today, that is, he will have made a total of 5 deposits. How much money will he have saved for his dream car assuming he earned an annual return. of 8.10% on his investments? $30,889 $28,676 $19,809 $24,689
Fifteen years after graduating in electrical engineering and accepting employ- ment with Texas Instruments, Samuel Washington...
Fifteen years after graduating in electrical engineering and accepting employ- ment with Texas Instruments, Samuel Washington decides to establish a consulting business. Although he has invested wisely for the past 15 years, the value of his investments is only $325,000. After developing a business plan, he realizes he will need $250,000 on hand initially, plus $150,000 each successive year, to cover the expenses of an office and an assistant. He is unsure about how much of his own money he...
Exercise 6-2 Chris Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing...
Exercise 6-2 Chris Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Chris withdraws the accumulated amount of money. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, e.g. 458,581.) Total withdrawn LINK TO TEXT LINK TO TEXT Click here to view factor tables Compute the amount Chris would withdraw assuming the investment earns...
How much will Tamara have in 10 years from now if she deposits the $9,868 that...
How much will Tamara have in 10 years from now if she deposits the $9,868 that her grandfather gave her at 2.1 % interest rate, compounded annually? Round your answer to 2 decimal places and do not enter any symbols such as S, % or commas. Match the correct terms for the given definitions below. A sum received today is worth more than that same sum received some time in the future. A. Compound interest B. Simple interest C. Time...
1. Suppose you accumulated $500,000, perhaps from many years of saving. You put the money in...
1. Suppose you accumulated $500,000, perhaps from many years of saving. You put the money in a savings plan earning 6% compounded monthly. If you want to withdraw $4,000 at the beginning of each month, how long before the savings plan is exhausted? 2. Suppose you accumulated $500,000, perhaps from many years of saving. You put the money in a savings plan earning 6% compounded monthly. If you want the plan to last 40 years, how much can you withdraw...
TIME VALUE OF MONEY Jeff Warren after consulting with some PhD students and his Financial Advisor...
TIME VALUE OF MONEY Jeff Warren after consulting with some PhD students and his Financial Advisor decided to register his server building company as S corporation, which is a special designation that allows small businesses to be taxed as if they were a sole proprietorship or a partnership rather than as a corporation whilst at the same time enjoying limited liability of a corporation. Jeff is satisfied with this choice because he is aware that one of the disadvantages of...
QUESTION 5 Ali earned a return on his investment worth $4,212. Calculate the money he invested ten years ago? Interest rate was fixed at 12%, compounded annually. (Hint: Return on Investment (ROI) = Total future worth of invested money - present worth of money invested) CA. $1,000 B. $2,000 C. $2,058 D. $1,356 QUESTION 6 A $24,000 student-loan debt was placed at the end of Peter's college career with the interest rate of 1% per month. How many months will...
Your grandmother invested $2,300 for you on the day you were born. This investment has earned an average of 13.8 percent annually. How old are you if the investment is now worth $18,642? O 14.36 years 14.58 years 15.15 years 16.19 years You just inherited $7100 which you are investing at 7.25 percent interest. How long will you have to wait un your account reaches a value of $12,000 O 6.96 years O 8.34 years O 7.50 years O 8.55...
Exercise 6-2 Chris Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Chris withdraws the accumulated amount of money. Compute the amount Chris would withdraw assuming the investment earns simple interest. (Round answers to decimal places, e.g. 458,581.) Total withdrawn LINK TO TEXT LINK TO TEXT Click here to view factor tables Compute the amount Chris would withdraw assuming the investment earns...
How much will Tamara have in 10 years from now if she deposits the $9,868 that her grandfather gave her at 2.1 % interest rate, compounded annually? Round your answer to 2 decimal places and do not enter any symbols such as S, % or commas. Match the correct terms for the given definitions below. A sum received today is worth more than that same sum received some time in the future. A. Compound interest B. Simple interest C. Time...
Most questions answered within 3 hours.
-
What is meant by a “term premium”?
What can explain such a premium? Is it a...
asked 37 minutes ago -
23. Which molecule has only covalent bonds? A. CO2 B. Al2O3 C.
Mg3N2
24. The octet...
asked 1 hour ago -
the
total pressure for a mixture of N2O4 and NO2 is 2.20 atm. If Kp=
7.10...
asked 1 hour ago -
Delaware Corp. prepared a master budget that included $22,385
for direct materials, $28,600 for direct labor,...
asked 1 hour ago -
For pesticide HCB (hexachlorobenzene), its logarithmic partition
coefficient log Kow is 5.6. What would be the...
asked 1 hour ago -
A chemist requires 0.422 mil Na2CO3 for a reaction. How many
grams does this correspond to?
asked 1 hour ago -
If the vapor pressure of carvone is approximately 9.4 torr at 99
°C, approximately how much...
asked 1 hour ago -
A juice bottling company is carrying out a test at 10%
significance that the mean population...
asked 1 hour ago -
What is the reflectivity (in percent) needed to keep water at a
temperature near its freezing...
asked 1 hour ago -
Suppose that the average surface temperature of Earth is 300K.
Assume this is uniform over its...
asked 1 hour ago -
Draw the condensed structural formula for alkenes and alkynes or
the line-angle structural formula for cycloalkenes...
asked 1 hour ago -
M. Laing has suggested a new arrangement of the periodic table
(J.Chem.Ed.1989, 66,
746). Answer the following...
asked 2 hours ago