What is the youngest age at which don can retire

Assignment Help Business Economics

Reference no: EM13837903

Don Ball is a 55-year-old engineer. According to mortality tables, a male at age 55 has an average life expectancy of 21 more years. Don has accumulated $150,000 toward his retirement. He is now adding $5000 per year to his retirement fund. The fund earns 12% interest. Don will retire when he can obtain an annual income from his retirement fund of $50,000, assuming he lives to age 76. He will make no provision for a retirement income after age 76. What is the youngest age at which Don can retire?

Please use the analysis table. Example (p/f,i,n)

Reference no: EM13837903

Questions Cloud

Discuss the possible challenges faced by sahara : The strategic role that information systems play in an organization to attain competitive advantage is crucial to survive in a challenging business environment

What are the overall symptoms of schizophrenia : What are the overall symptoms of schizophrenia, and which of these symptoms might contribute most to violent behavior? Also, should an individual with schizophrenia who has a history of violent behavior be forced to take medication? Why or why not

What changes in government spending yield desired level : Suppose the initially, real GDP is $14 trillion. The government wishes to increase real GDP to $15 trillion. The marginal propensity to consume (MPC) is 0.8 and every $1.00 increase in real government spending crowds out $0.50 in real plan investment..

Developments would affect the supply of money : Explain how each of the following developments would affect the supply of money, the demand for money, and the interest rate. For each case, show what happens in a closed economy and in a small open economy.

What is the youngest age at which don can retire : Don Ball is a 55-year-old engineer. According to mortality tables, a male at age 55 has an average life expectancy of 21 more years. Don has accumulated $150,000 toward his retirement. He is now adding $5000 per year to his retirement fund. What is t..

Determine the minimum-cost mixture : Determine the minimum-cost mixture that satisfies the daily demand for Sugar Sweet. Can the bounded variable simplex method used to solve this problem?

Discuss the differences between cognition and emotion : Discuss the differences between cognition and emotion, and compare and contrast any two theories of cognition or any two theories of emotion. Which theory of emotion or cognition do you most closely align with? Why

Local community bus service : A local community bus service, the only bus service in the market (i.e. a monopoly), charges $2.00 for a one-way fare for all riders. The city council is thinking of raising the one-way fare to $2.50 for all riders. If the city council increases the ..

The winner of the 1848 presidential election was ____ : The winner of the 1848 presidential election was ____

User Account

All Pages