What rate should he quote for apr-what is the firm sales

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Reference no: EM131976330

1. You have retired and you have saved $600,000. You have it invested to earn 6%/year. You think you can live on annual expenses of $71,566/year. For how many years can you live before you have to ask your children to help you?

2. A firm’s ROE is 8%. Its net income is $5 million. The total asset turnover ratio is 0.9. Its debt-to-equity ratio is 0.6. What is the firm’s sales?

3. Jacob works for a bank and is preparing Terms & Conditions for a new credit card that is about to be sent out. It will Effective Annual Rate of 5.25%. What rate should he quote for APR if the interest is to be compounded monthly? (Show all work)

Reference no: EM131976330

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