Saturday
October 25, 2014

Homework Help: math

Posted by Steven on Sunday, August 5, 2012 at 5:54pm.

3. (TCO A) The following questions are worth 5 points each. Please show all work.

a. Inflation is expected to average five percent for the long term and Mr. Smith earned $74,000 this year, how much must he earn in 20 years just to keep up with inflation and maintain the balance between his income and his increasing expenditures?

74000*2.653=196,322

b. Jamie wants to have $2,000,000 for her retirement in 35 years. How much should she save annually if she thinks she can earn eight percent on her investments?

2000000*.094=

c. The Flemings will need $160,000 annually for 30 years during retirement. How much will they need at retirement if they can earn a four percent rate of return?

d. The Hamptons want to have $2,500,000 for their retirement in 30 years. How much should they save annually if they think they can earn seven percent on their investments?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Finance - A Treasury note with a maturity of four years carries a nominal rate ...
finance - 12. A Treasury note with a maturity of four years carries a nominal ...
finance - 12. A Treasury note with a maturity of four years carries a nominal ...
Finance - A Treasury note with a maturity of four years carries a nominal rate ...
Finance - A thirty-year Treasury bond has a 4.0 percent interest rate. In ...
math - An Algebra I test contains 40 questions. Some of the questions are worth ...
8th Grade Algebra - 1) An exam will have 20 questions worth a total of 100 ...
geometry - User: Courtney Thompson In Course: Geometry V8 ( 2167) Instructor: ...
Finance - 4.A thirty year US treasury bond has a 4.0 percent interest rate.In ...
Busine - Briefly explain what is meant by objective and judgmental performance ...

Search
Members