4.Your Aunt Matilda Mae makes you the following offer:$15,000 upon graduation in one year or $18,000 upon MBA graduation in 3 years.Which offer should you take if current rates are 14% (Hint: take the one with the highest present value!)<\/p>
<\/p>
Jimmy has $255,906 accumulated in a 401K plan. The fund is earning a low, but safe, 3% a year. The withdrawals will take place at the end of each year starting a year from now. How soon will the fund be exhausted if Jimmy withdraws $30,000 each year?<\/p>", "transcribed_text": "", "related_book": { "title": "Principles Of Accounting Volume 2 Managerial Accounting", "isbn": "0357364805, 9780357364802", "edition": "1st Edition", "authors": "OpenStax", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2022\/04\/626124ab6f7b1_547626124ab246f0.jpg", "uri": "\/textbooks\/principles-of-accounting-volume-2-managerial-accounting-1st-edition-9780357364802", "see_more_uri": "" }, "free_related_book": { "isbn": "0300109903", "uri": "\/textbooks\/the-battle-for-the-soul-of-capitalism-1st-edition-978-0300109900-311347", "name": "The Battle For The Soul Of Capitalism", "edition": "1st Edition" }, "question_posted": "2024-06-28 09:46:21", "see_more_questions_link": "\/study-help\/questions\/business-human-resource-management-2020-May-22", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-following-selected-transactions-were-completed-by-niles-co-during", "description": "The following selected transactions were completed by Niles Co. during March of the current year: Mar. 1. 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On average It takes 1 5 0 seconds to serve a customer, and a customer arrives every 4 minutes....", "stars": 3 }, { "url": "\/study-help\/questions\/financial-data-for-joel-de-paris-incorporated-for-last-year-863324", "description": "Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/3-the-sneed-corporation-issues-11900-shares-of-54-par-4287598", "next": "\/study-help\/questions\/what-is-net-present-value-can-it-ever-be-negative-4287600" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "4.Your Aunt Matilda Mae makes you the following offer:$15,000 upon graduation in", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/4your-aunt-matilda-mae-makes-you-the-following-offer15000-upon-4287599" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }} }