How long will it take Lisa Harvie to accumulate $12,000 towards a new car if she...

 

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How long will it take Lisa Harvie to accumulate $12,000 towards a new car if she is able to deposit $900 a year at 5% interest? . Vincent leung will retire in 10 years. Based on actuarial estimates, he believes he will live 15 years after retirement. During retirement, he needs an annual investment income of $35,000, withdrawn in December 31. How much does he need in 10 years if his investments return will average 6.5%? If Mr. Leung changes his mind and withdraws money on January 1 of each year, with the first withdrawal at the time of his retirement, how much does he need in his account at that time? How long will it take Lisa Harvie to accumulate $12,000 towards a new car if she is able to deposit $900 a year at 5% interest? . Vincent leung will retire in 10 years. Based on actuarial estimates, he believes he will live 15 years after retirement. During retirement, he needs an annual investment income of $35,000, withdrawn in December 31. How much does he need in 10 years if his investments return will average 6.5%? If Mr. Leung changes his mind and withdraws money on January 1 of each year, with the first withdrawal at the time of his retirement, how much does he need in his account at that time?

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Solution Lisa Harvie is depositing 900 per year at 5 interest to accumulate 12000 Using t... View the full answer