User Account

All Pages

Compute how old will be when the account has target amount

Assignment Help Financial Accounting
Reference no: EM132720243

Problem 1: You are 20 years old and plan to retire with $1,000,000. You have $22,500 available for investment now. You deposit this into an account that pays 9.25% interest compounded annually? How old will you be when the account has the target amount? (Answers are rounded.)

A. 61
B. 59
C. 65
D. 57
E. 63
F. 55

 

Reference no: EM132720243

Questions Cloud

Was the amount of cash received from the sale of the bonds : Was the amount of cash received from the sale of the bonds greater or less than $26,000,000? A corporation issues $26,000,000 of 9% bonds to yield interest
Manage poor work performance : Explain how a performance plan/ improvement contract can be used to manage poor work performance.
Introduce ways to improve work relationships : How can you monitor, analyse and introduce ways to improve work relationships?
Characteristics of sound written communication : Describe how written communication methods/ techniques can be used for communicating information and ideas to a range of stakeholders.
Compute how old will be when the account has target amount : Compute how old will you be when the account has the target amount? You are 20 years old and plan to retire with $1,000,000.
Development of positive and trust-based : What techniques will assist the development of positive and trust-based work relationships and trust and confidence in a team?
Positive cultural and social environment : Give examples of how a negative or positive cultural and social environment can support or hinder achieving planned outcomes.
Identify the collaborative strategies : The license raj that existed prior to economic liberalization (1940s-1980s) in India did not allow foreign companies to enter the market. In the mid-'80s
Determine how old will be when account has the target amount : You are 20 years old and plan to retire with $1,000,000. You have $22,500 available for investment. How old will you be when the account has the target amount?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Determine the net present value of proposed mining project

Renfree Mines, Inc., owns the mining rights to a large tract of land in a mountainous area. The tract contains a mineral deposit that the company believes might be commercially attractive to mine and sell. Determine the net present value of the propo..

  Determine and perform vertical analysis

Using these data from the comparative balance sheet of Ivanhoe Company, perform vertical analysis. (Round percentages to 1 decimal place, e.g. 12.5%.)

  Should the equipment be bought and explain

Compute the 1.) PBP, 2.) ARR, with annual depreciation of 14,000, 3.) NPV, and 4.) IRR. 5.) Should the equipment be bought? Explain

  Depreciated using straight-line depreciation for their books

Accounting for Income Taxes C.U. Incorporated asked you to help them with their financial statements. They bought a machine that is depreciated using straight-line depreciation for their books and uses MACRS depreciation for tax purposes. It was purc..

  Sensitivity of npv to conditions

Sensitivity of NPV to Conditions. Burton Co., based in the U.S., considers a project in which it has an initial outlay of $3 million and expects to receive 10 million Swiss francs (SF) in one year. The spot rate of the franc is $.80. Burton Co. decid..

  Prepare journal entries to record each transaction

Prepare journal entries to record each transaction. Prepare journal entries to record the preceding transactions and events.

  Examine the five steps to managing accounts receivable

Examine the five (5) steps to managing accounts receivable. Speculate on the step that is most vulnerable to fraud. Suggest at least two (2) actions that a company can take in order to protect this step from fraud.

  Invest in the bond fund rather than in stocks

the two women's funds earn the same returns in the future as in the past, how old will each be when they become millionaires?

  Net operating income through accepting special order

Tullius Corporation has received a request for a special order of 8,000 units of product C64 for $50.00 each. The normal selling price of this product is $53.25 each, but the units would need to be modified slightly for the customer. How much is the ..

  Describe how and why interest expense is allocated

Describe how and why interest expense is allocated between measurement periods. As a business manager should you be concerned when notes payable are used in funding the operations of the business?

  Illustrate what is the maximum amount of before-tax salary

Lara's employer has a 40 percent marginal tax rate. Ignoring payroll taxes, illustrate what is the maximum amount of before-tax salary Lara would give up to receive health insurance?

  How does this compare to other not for profit entities

On the internet and in the news you see many articles on non-profit companies and their contribution rates. For example, let us say that a firm returns 20% of its contributions to research and pays its CEO $700,000 per year. Is this reasonable? How d..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd