This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Herbert has opened a retirement fund account which pays 7 percent interest and requires 5,000 annual ... (Read 58 times)

KimWrice

  • Hero Member
  • *****
  • Posts: 579
on: Jul 10, 2018
Herbert has opened a retirement fund account which pays 7 percent interest and requires 5,000 annual deposits. Herbert will retire in 15 years and expects 10 years of retirement life.
 
  What is the maximum annual retirement benefit Herbert can get during his retirement years?

Question 2

The number of outstanding shares of common stock is always greater than or equal to the number of authorized shares of common stock.
 
  Indicate whether the statement is true or false


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nathang24

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jul 10, 2018
Answer to Question 1

I = 7, PMT = 5,000, N = 15, PV=0
At the beginning of retirement:
CPT FV = 125,645
Annual retirement benefit: i = 7, n = 10, PV = 125,645, FV=0
CPT PMT = 17,887.96

Answer to Question 2

FALSE


KimWrice

  • Member
  • Posts: 579
Reply 2 on: Jul 10, 2018
Excellent

EAN94

  • Member
  • Posts: 307
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Percent of Mothers in the Workforce by Age of Children and Marital Status Percent of Mothers in the Workforce by Age of Children and Marital Status
To maintain global power requires the continuous development of weapons. Shown here is the Osprey. ... To maintain global power requires the continuous development of weapons. Shown here is the Osprey. ...
Annual Mean Number of Days with Thunder Annual Mean Number of Days with Thunder
How to solve any percent efficiency problem How to solve any percent efficiency problem
Daniel's Enterprises has a beta of 1.98 and a growth rate of 12 percent. The stock is ... Daniel's Enterprises has a beta of 1.98 and a growth rate of 12 percent. The stock is ...
Annual Energy Flow: Silver Springs Annual Energy Flow: Silver Springs
Video: Acids and bases - definition

For a complete list of videos, visit our video library