Homework answers / question archive / 1)You've just retired with $1

1)You've just retired with $1

Finance

Share With

1)You've just retired with $1.5 million. If you expect to live for 30 years and to earn 8% a year on savings, how much can you withdraw each year? Assume you withdraw at the start of each year.

a) 112,148.50

b) 120,000.00

c) 123,371.44

d) 133,241.15

2)Your retirement account has a current balance of $50,000. You plan to add $6000 at the end of each year for the next 30 years. How much can be accumulated in the account at the end of the 30 years? Interest rate is 9%.

a) 817,845

b) 867,845

c) 1,481,229

d) 1,554,835

3)Current marketing situation Federation University?

4)Home and Beyond company has sales of $2850, costs of goods sold of $2190, and accounts receivable of $433. If it takes 73 days on average to sell the inventory, what is the company’s average inventory.

5)Assumes that your firm has total sales of $4740, total costs of $2540, and depreciation of $473. The corporate tax rate is 22 percent. If your firm’s cash coverage ratio is 11, then what is the total interest paid?