Guillermo can retire as multi-millionaire how many years

Reference no: EM13697416

Guillermo wants to have $2,000,000 in net worth when he retires. Â To achieve this goal, he plans to invest $10,000 each year (starting one year from now) into a account that earns 10% interest compounded annually. Â The amount of time before, Guillermo can retire as multi-millionaire how many years?

Reference no: EM13697416

Questions Cloud

What is the present worth value of the pump : A pump cost $29,238 when it was purchased. The cost to operate the pump were $500 the first year and increased $50 per year for each of the next 10 years of the life of the pump. The pump has a salvage value of $5675 today, at the end of its 10 year ..

What is the net present worth of the scaper-hauler : If a scaper-hauler that was purchased 8 years ago is sold today for $25,355, the payments for the piece of equipment were $38,355.67 per month, the owner derived an annual benefit of $475,000 for each of the 8 years of ownership, and the interest rat..

Purchased a loader : A construction company purchased a loader new 4 years ago for $645,344. They put 10% down at the time of purchase and financed the rest at a 6% APR. They made monthly payments on the balance of the loan for 4 years.

What is the annual cost of ownership : What is the annual cost of ownership of 4 scaper haulers, 3 bulldozers, and 2 motor graders if the annual interest rate is 3.5% Purchase price scaper hauler $2,145,669 Purchase price bulldozer $1,234,756 Purchase price motor grader $986,758 The contr..

Guillermo can retire as multi-millionaire how many years : Guillermo wants to have $2,000,000 in net worth when he retires. Â To achieve this goal, he plans to invest $10,000 each year (starting one year from now) into a account that earns 10% interest compounded annually. Â The amount of time before, Guille..

Prepare an annual cash flow table for the annual cost : A water distribution company wants to purchase a new pump. The purchase price of the pump is $278,993. The company will put 12.5% down on the pump at the time of purchase and finance the payment of the remaining balance with a 5 year loan having an A..

Definition of a white knight : In the U.S., government programs frequently do all of the following except: The best definition of a “white knight” is: A firm is more likely to be a takeover target:

Automatic teller machines reduces the demand for money : Use the Mundell-Fleming model to predict what would happen to aggregate income, the exchange rate, and the trade balance under both floating and fixed exchange rates in response to each of hte following shocks.

Population size-compatible with efficient sustainable yard : Assume that the relationship between the growth of a fish population and the population size can be expressed as g = 2P – 0.1P, where g is the growth in tons and P is the size of the population (in thousands of tons). Given a price of $50 ton, the ma..

User Account

All Pages