How much will be your annual withdrawl

Assignment Help Financial Management

Reference no: EM131222221

You have $20,000 that you put on deposit on your 30th birthday at 5% compounded anually. On your 40th birthday, the account begins earning 6%. Then, on your 50th birthday it begins earning 7%. You plan to withdraw equal annual ammounts on each of your 61st, 62nd.....,70th birthdays.

Find

(a) How much will be your annual withdrawl?

(b) On your way to the bank on your 65th birthday, you decide to withdraw the entire amount remaining. How much do you withdraw?

Reference no: EM131222221

Questions Cloud

Course-human resource management foundations : Topic: High Performance and the Choices Managers Make Note: Please answer EACH of the questions in at least 200 words. Answers should be correct, substantive, professional like a work of graduate student, and must be plagiarism-free. Use in-text ci..

Analyze challenges of unique combination of learning pattern : Describe yourself as a learner in terms of how you typically use your team of Learning Patterns. Identify your Learning Pattern scores and describe the ways in which you use each Pattern. Also, explain how all four Patterns interact together as yo..

What is your locus of control : What is your Locus of Control? How do you feel this will impact your decisions and your career?

Important for helpers to understand ethical codes : Why is it important for helpers to understand ethical codes, state/federal laws, and organizational policies regarding the use of technology and confidentiality?

How much will be your annual withdrawl : How much will be your annual withdrawl? - On your way to the bank on your 65th birthday, you decide to withdraw the entire amount remaining. How much do you withdraw?

Compute the supremum distance between the two objects : Compute the Minkowski distance between the two objects, using q = 3.

Patient confidentiality in the use of technology : What are strategies you can implement to help ensure patient confidentiality in the use of technology?

Employment relationship between employer : What policies does the company utilize to benefit HR and strategy? How does the employment relationship between employer and employee benefit from strong organizational culture and strategy?

Type of evaluation outcomes : Type of evaluation outcomes are expected for someone training on how to build doors more effectively and efficient? Will you please send me the site where the answer comes from?

User Account

All Pages