How much longer will a $100,000 fund earning 9% compounded monthly sustain beginning-of-month withdrawals of $900 than

Question:

How much longer will a $100,000 fund earning 9% compounded monthly sustain beginning-of-month withdrawals of $900 than beginning-of-month withdrawals of $1000?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

See More Books

Question Posted: Jan 20, 2016 07:58 AM

See More Questions

The interest rate on a $100,000 loan is 9% compounded monthly. How much longer will it take to pay off the loan with monthly payments of $1000 than with monthly payments of $1050?
How much longer will it take month-end RRSP contributions of $500 to accumulate $500,000 than month-end contributions of $550? Assume that the RRSP earns 7.5% compounded monthly. Round the time...
How much longer will it take to pay off a $100,000 loan with monthly payments of $1000 than with monthly payments of $1100? The interest rate on the loan is 10.5% compounded monthly.
In 2020/21 Ella had taxable income (after deducting the personal allowance) of 52,000, all of which represented savings income. She paid 1,600 as a Gift Aid donation to the NSPCC (a registered...
Describe a balanced scorecard, and explain how it helps an organization meet its goals.
A binary system of species 1 and 2 consists of vapor and liquid phases in equilibrium at temperature T for which In y1 = 1.8x22 In y2 = 1.821. P1sat = 1.24 bar P2sat = 0.89 bar. Assuming the...
Suppose there is no risk-free asset and the minimum-variance return is different from the constant-mimicking return, that is, bm = bc. From Section 5.5, we know that there is an SDF that is an affine...
The following are financial statements for Germaine Company: The following information is also available for 2011: (a) Plant assets were sold for their book value of $180 during the year. The assets...
IBM's stock returns have a correlation of .6 with market returns. IBM's standard dev of stock returns is 35% and the standard dev of market returns is 25%. if the risk free rate is 2% and the...
Recognition accuracy that measures the percentage of orders that are taken correctly is 86.8%. Suppose that you place order with the bot and two friends of yours independently place orders with the...
Suppose that the Samsung TV is purchased for $650 on a loan from a consumer-finance company that charges interest at 30% compounded monthly. What regular beginning-of-week payment would pay off the...
How many fewer deposits will it take to accumulate savings of $100,000 with beginning of-month deposits of $220 than with beginning-of-month deposits of $200? The savings earn 5.4% compounded monthly.
Does possible misuse constitute a waiver of the implied warranties? Consider the case of a lessee of a car who, after 18 months, found the car was running roughly. When taking the car back to the...
How could civil engineers contribute to space debris management and cleanup?
In what ways can the principles of resilient infrastructure be applied to design urban systems capable of withstanding natural disasters, and how do these principles contribute to the overall safety...
What are local variables and global variables in Python?
When to use a tuple vs list vs dictionary in Python? Explain some benefits of Python
What is Lambda Functions in Python? How do I modify a string in python?
How do managers in your organization react and respond to employee errors and mistakes? Is there a learning climate in place in which mistakes and failures are viewed as learning opportunities?
The packaging division of a company having considered several alternative package designs for the company's new product has finally brought down their choices to two designs of which only one has to...
Which of the following use financial statement data to make decisions? a. customers b. investors c. suppliers d. all of these
(Three Differences, Multiple Rates, Future Taxable Income) During 2010, Graham Co.'s first year of operations, the company reports pretax financial income of $250,000. Graham's enacted tax rate is...
(Two Differences, One Rate, Beginning Deferred Balance, Compute Pretax Financial Income) Shamess Co. establishes a $90 million liability at the end of 2010 for the estimated litigation settlement for...
(Two Differences, No Beginning Deferred Taxes, Multiple Rates) Macinski Inc., in its first year of operations, has the following differences between the book basis and tax basis of its assets and...
Consider a 5 year debt with a 15% coupon rate paid semi-annually, redeemable at Php1,000 par. The bond is selling at 90%. The flotation cost is Php50 per bind. The firm's tax bracket is 30%.
A project will generate annual cash flows of $237,600 for each of the next three years, and a cash flow of $274,800 during the fourth year. The initial cost of the project is $749,600. What is the...
You want to invest annual amounts over the next 15 years. If your goal is to have $15,000 at the end of that time and if you can earn 8 percent on your invested funds, how much do you need to invest...

How much longer will a $100,000 fund earning 9% compounded monthly sustain beginning-of-month withdrawals of $900 than

Question:

Step by Step Answer:

The 100000 fund equals the present value of the withdrawals which form a simple annuity due having ...View the full answer

Business Mathematics In Canada

Students also viewed these Accounting questions