Beach with retirement funds

Assignment Help Accounting Basics

Reference no: EM131006075

Joe is 55 and plans to retire and move to Aruba where he could live comfortably on a beach with retirement funds of $750,000. He recently inherited $400,000 that he safely invested at 6% annual interest compounded monthly. At what age can he retire and start his Aruba retirement assuming he makes no additional investments in his retirement fund? How much would he have to invest monthly to retire at age 60?

Reference no: EM131006075

Questions Cloud

Prepare a statement of cash flows for the year 2014 for aero : Use the analysis of Aero to illustrate how information in the balance sheet and statement of cash flows helps the user of the financial statements.

Calculate the irr : The plant will wear out 20 years after its completion. At that point you expect to get $10 million in salvage value for the plant. Using a cost of capital (interest rate) of 12%, calculate the present Worth of the plant. Calculate the IRR.

What is the lessees discount rate : What is the lessor's discount rate when determining the present value of minimum lease payments? What is the lessee's discount rate?

Beach with retirement funds : Joe is 55 and plans to retire and move to Aruba where he could live comfortably on a beach with retirement funds of $750,000. He recently inherited $400,000 that he safely invested at 6% annual interest compounded monthly.

Different products can sometimes price discriminate : A monopolist selling several different products can sometimes "price discriminate" by bundling products together. Here's an example. Suppose the university is planning to offer a series of two concerts. The first program in the series consists of mus..

Key indicators used to forecast demand for land-development : This question is from the book : Real Estate Development: 5th Edition by Mike E Miles. What are the five key indicators used to forecast demand for land and development? Show a regression equation with dependent and independent variables.

How are they recognized in income determination : Under what circumstances are contingent rentals included or excluded from minimum lease payments? If excluded, how are they recognized in income determination?

Compute the rate of change of x-coordinate of given point : Determine the rate of change of the x-coordinate of the point Q at the moment when P is at (3,0) and the x-coordinate of P is increasing at a rate of 1 cm/sec.

User Account

All Pages