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7. (TCO 10) Assume your goal in life is to retire with $1.5 million. How much would you need to save at the end of
7. (TCO 10) Assume your goal in life is to retire with $1.5 million. How much would you need to save at the end of each year if interest rates average 5% and you have a 25-year work life? (Points : 5) $33,754 $24,555 $27,798 $31,429
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Question 10. 10. (TCO 10) Shirt Company wants to purchase a new cutting machine for its sewing plant. The investment is expected to generate annual cash inflows of $300,000. The required rate of return is 12% and the current machine is expected to last for 4 years. What is the maximum dollar amount Shirt Company would be willing to spend for the machine, assuming its life is also 4 years? Income taxes are not considered. (Points : 5) |
$507,000 $911,100 $791,740 $720,600
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