A couple will retire in 50 years; they plan to spend about $32,000 a year in retirement, which should
last about 25 years. They believe that they can earn 9% interest on retirement savings.
a) If they make annual payments into a savings plan, how much will they need to save each year?Assume the first payment comes in 1 year.
b) How would the answer to part (a) change if the couple also realize that in 20 years they will need to spend $62,000 on their child’s college education?
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Answers: 1
Business, 21.06.2019 14:20
David and darlene jasper have one child, sam, who is 6 years old (birthdate july 1, 2011). the jaspers reside at 4639 honeysuckle lane, los angeles, ca 90248. david's social security number is 577-11-3311, darlene's is 477-98-4731, and sam's is 589-22-1142. david's birthdate is may 29, 1984 and darlene's birthday is january 31, 1986. david and darlene's earnings and withholdings for 2017 are:
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Business, 21.06.2019 17:10
Acompany manufactures hair dryers. it buys some of the components, but it makes the heating element, which it can produce at the rate of 920 per day. hair dryers are assembled daily, 250 days a year, at a rate of 360 per day. because of the disparity between the production and usage rates, the heating elements are periodically produced in batches of 2,300 units. a. approximately how many batches of heating elements are produced annually? b. if production on a batch begins when there is no inventory of heating elements on hand, how much inventory will be on hand 4 days later? c. what is the average inventory of elements, assuming each production cycle begins when there are none on hand?
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Business, 22.06.2019 20:00
Miller mfg. is analyzing a proposed project. the company expects to sell 14,300 units, plus or minus 3 percent. the expected variable cost per unit is $15 and the expected fixed cost is $35,000. the fixed and variable cost estimates are considered accurate within a plus or minus 3 percent range. the depreciation expense is $32,000. the tax rate is 34 percent. the sale price is estimated at $19 a unit, give or take 3 percent. what is the net income under the worst case scenario?
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Business, 23.06.2019 03:00
Why is the type of product sold in an industry an important characteristic? a firm that can differentiate its product from that of rivals may be able to charge a higher price for a superior product. a firm that sells intangible goods is usually considered a monopoly. service industries cannot differentiate their products, which makes it easy for new firms to enter the industry. expensive products are usually sold by perfectly competitive firms.
Answers: 2
A couple will retire in 50 years; they plan to spend about $32,000 a year in retirement, which shoul...
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