How much must sara save each year

Assignment Help Finance Basics

Reference no: EM131928080

Question: Sara, who has just turned 36, would like to have an annual annuity of $21,500 paid over a 20 year period, the first payment occurring on his 66th birthday. How much must Sara save each year (end of year) for the next 29 years to have this annuity, if the investment will earn 12 percent compounded annually?

Reference no: EM131928080

Questions Cloud

What was the portfolio turnover rate : A mutual fund portfolio currently is worth $ 800 million. During the year, the fund sells stocks worth of 200 million and realizes the long term capital gains.

Determine the cost per cd for each group : Sheridan, Inc. buys 1,200 computer game CDs from a distributor who is discontinuing those games. Determine the cost per CD for each group

Difference in the average time spent by the two services : The standard deviation of the advising department and the thesis instructor is 5.6 minutes and 4.3 minutes respectively.

Taxes per year by purchasing piece of equipment : You will save $110,000 before taxes per year by purchasing the piece of equipment and you will be able to reduce working capital by $50,000.

How much must sara save each year : Sara, who has just turned 36, would like to have an annual annuity of $21,500 paid over a 20 year period, the first payment occurring on his 66th birthday.

Difference in the rates of cities : At a = 0.05, can it be concluded that there is a difference in the rates of both cities?

Compute ending inventory at cost : Martinez Inc. had beginning inventory of $11,100 at cost and $19,800 at retail. Compute ending inventory at cost using the conventional retail method

What is the amount of gross gift-adjusted taxable estate : What is the amount of his gross gift-adjusted taxable estate? Are estate taxes payable?

Record the journal entry when the bonds are issued : The market interest rate for this type of bond is 10%. Record the journal entry when the bonds are issued, and for the first two coupon payments.

Reviews

Write a Review

Required(*) Message

Finance Basics Questions & Answers

Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

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

User Account

All Pages