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Your client is planning for retirement. Calculate the size of the monthly contributions he will need to make to achieve his retirement goals. He is hoping to retire in exactly 32 years from today. He will make equal monthly contributions to his retirement account during these 32 years, with the first deposit in exactly one month from today. Currently, he has savings of $12,000, which he is going to transfer immediately into this new retirement account. He will also receive an insurance pay equal to $550,000 as soon as he retires. During his retirement years, he is expecting to make 12 annual withdrawals in the size of $150,000 per year, with the first withdrawal to take place as soon as he retires. At the end of the sixth year of his retirement he will need to withdraw an additional amount of $45,000 in order to cover the expenses of a transcontinental cruise. After the 12 years in retirement, he is planning on moving into a retirement village. This facility will provide housing and all other necessities for the rest of his life. In exchange, he will need to make a one-time payment of $1.5 million at the time of move-in, i.e., after 12 years in retirement. During the next 32 years, funds in the retirement account will be invested into a mix of securities that are expected to generate an average annual return of 8%. After he retires, the investments will be shifted to safer securities with an average expected annual return of 5% p.a.
You have graduated, and are on the staff of the Assistant Treasurer of company CKS. (You are an assistant to the Assistant Treasurer.) Your boss, the Assistant Treasurer, recently attended a conference at which he heard that swaptions could be used t..
Staind, Inc., has 7 percent coupon bonds on the market that have 6 years left to maturity. The bonds make annual payments. If the YTM on these bonds is 11 percent, what is the current bond price?
The R.M Smithers Corporation earned an operating profit margin of 11.2 percent based on sales of 10.5 millionand total assets of 4.8 million last year. What was Smither's total asset turnover ratio. What was Smithers' operating return last year?
Under what conditions are remittances significant contributors to the economy and overall balance of payments?
According to Smith, social harmony comes from economic exchanges in which people act. Which one of the following is a role for government that Smith saw as essential? The division of labor tends to be greatest in less economically developed countrie..
A 12-year bond that has a 12 percent coupon rate is currently selling for $1,000, which equals the bond's face value. If interest is paid semiannually, the bond's yield to maturity is
The difficulty many investors experienced in selling mortgage based securities during the financial crisis of 2009 is an example of
You purchase a house that costs $625,000 with a 8%, 30-year mortgage. In order to avoid PMI insurance, you decide to follow a conforming mortgage by making a down payment of 20%. 1. What is your monthly payment? 2. Amortize the first and second payme..
Apps store, Inc is offering a 7 year bond with a 1000 par value. The selling price is 95% of the par value and the bond offers a yield to maturity of 10%. This bond offers semi-annual coupon payments? What is the dollar amount $ of the semi-annual co..
Assume customers will spend the same amount on either version. What level of incremental sales is associated with introducing the new pizza?
entrepreneurial motivation and rewards-dq1discuss the motivatorsrewards that encourage individuals to begin
A firm has a profit margin of 5% and an equity multiplier of 1.4. Its sales are $150 million, and it has total assets of $75 million. What is its ROE?
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