finance

posted by .

You are 25 years old and inherit $65,000 from your grandmother. If you wish to purchase a $100,000 yatch to celebrate your 30th birthday, what compound annual rate of return must you earn?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Finance

    You are considering the purchase of an industrial warehouse. The purchase price is $1 million. You expect to hold the property for five years. You have decided to finance the acquisition with the $700,000 loan, 10 percent interest …
  2. Finance for decision makers

    Joe Nautilus has $120,000 and wants to retire. What return must his money earn so he may receive annual benefits of $20,000 for the next 14 years. a) 12% b)Between 12% and 13% c) 14% d) Greater than 15%
  3. finance

    You want to accumulate $1,000,000 in retirement funds by your 65th birthday. Today is your 30th birthday, and you plan on making annual investments into a mutual fund that you project will earn a 10% annual rate of return. Your first …
  4. Finance

    Mr fish want to build a house in 10 years. he estimates that the total cost will be $170,000. if he can put aside 10,000 at the end of the year, what rate of return must he return must he earn in order to have the amount needed?
  5. Finance

    You wish to retire in 12 years and currently have $50,000 in a savings account yielding 5 percent annually and $100,000 in quality "blue chip" stocks yielding 10 percent. If you expect to add $30,000 at the end of each year to your …
  6. value of money

    You want to have $1,000,000 in your bank account when you turn 65 years old. Today is your 20th birthday. As a birthday present you received $27,000 and you want to invest this amount. At what annual interest rate must you achieve …
  7. finance

    You take out a 30- yr mortgage loan, purchase price is $120,000 put $20,000 down and finances the balance of $100,000 at fixed annual loan rate of 12%, what will be your monthly payment?
  8. finance

    You want to save $1,000,000 for your retirement (under 40 years old) or $100,000 (over 40 years old). If you use common stocks with an average rate of return of 10% how much do you need to save monthly?
  9. finance

    You wish to retire in 12 years and currently have $50,000 in a savings account yielding 5 percent annually and $100,000 in quality "blue chip" stocks yielding 10 percent. If you expect to add $30,000 at the end of each year …
  10. Finance

    You purchase a piece of property for $30,000 nine years ago and sold it today for $83,190. What was your annual rate of return on your investment?

More Similar Questions