You sell valuable artifacts from your household estate for $200,000 and want to use the money to
supplement your retirement. You receive the money on your 60th birthday, the day you retire.
You
want to withdraw equal amounts at the end of each of the next 25 years. What constant amount can
you withdraw each year and have nothing remaining at the end of 20 years if you are earning 7%
interest per year?
A) $37,574 B) $28,318 C) $17,162 D) $49,113
C
You might also like to view...
Assume that you are the Chase Manhattan Bank of the United States, and you have 1 million Swiss francs in your vault that you will need to use in 30 days. Moreover, you need 500,000 British pounds for the next 30 days. You arrange to loan your francs to Barclays Bank of London for 30 days in exchange for 500,000 pounds today and reverse the transaction at the end of 30 days. You have just arranged a
a. forward contract. b. futures contract. c. spot contract. d. currency swap.
Which of the following is true of direct marketing channels?
A) Direct marketing channels offer the greatest opportunity for sales communication and customer interaction. B) Direct marketing channels yield very low margins for the manufacturer. C) Direct marketing channels do not allow the manufacturer control over the sales messages and service quality. D) Direct marketing channels are most suited for inexpensive products that are bought in low quantities. E) Direct marketing channels result in the lowest out-of-pocket marketing expenses for the manufacturer.
Explain the difference between “synchronous” distance learning and “asynchronous” distance learning.
What will be an ideal response?
In determining the amount of down payment and monthly mortgage payments you can afford, you should maintain some extra funds for liquidity purposes to cover unanticipated bills
Indicate whether the statement is true or false.