Author Question: How long would it take for Nico to save an adequate amount for retirement if he deposits 40,000 per ... (Read 77 times)

dejastew · **on:** Jul 10, 2018

How long would it take for Nico to save an adequate amount for retirement if he deposits 40,000 per year into an account beginning one year from today that pays 12 percent per year if he wishes to have a total of 1,000,000 at retirement?

A) 12.2 years
B) 15.7 years
C) 14.5 years
D) 16.5 years

Question 2

In planning and managing the requirements of a firm, the financial manager is concerned with ________.

A) the mix and type of assets, but not the type of financing utilized
B) the type of financing utilized, but not the mix and type of assets
C) the acquisition of fixed assets, allowing someone else to plan the level of current assets required, and the market value of the share
D) the mix and type of assets, the type of financing utilized, and analysis in order to monitor the financial condition