Question

Please use excel and show formulas used. Alice wants to deposit $35,000 now and at the...

Please use excel and show formulas used.

Alice wants to deposit $35,000 now and at the end of 6 years she wants to deposit $45,000. The bank pays 10% interest compounded semiannually. For the first 6 years, she wants to withdraw an amount every year and for the following 4 years she wants to withdraw exactly $1000 more. What is the maximum amount she can withdraw in year 1?

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
PLEASE SOLVE IN EXCEL SHOW ALL WORK! MUST USE FORMULAS!! Thank you!! You are saving for...
PLEASE SOLVE IN EXCEL SHOW ALL WORK! MUST USE FORMULAS!! Thank you!! You are saving for retirement in 40 years. You deposit $20,000 in a bank account today that pays 3.5% interest, compounded semiannually. You leave those funds on deposit until you retire. You also contribute $5,000 a year to a pension plan for 20 years and then you stop making contributions to the fund. You leave your money in the pension fund until you retire. The pension plan grows...
Please show the work in excel be sure to use appropriate formulas to solve each exercise...
Please show the work in excel be sure to use appropriate formulas to solve each exercise or problem. A1 If you deposit $12,000 in a bank account that pays 10% interest annually, how much will be in your account after 7 years? A2.    What is the present value of a security that will pay $10,000 in 20 years at an interest rate of 8%? A3.                 Find the future value of the following ordinary annuities: $600 per year for...
An individual wishes to deposit an amount of money now and $100 every six months so...
An individual wishes to deposit an amount of money now and $100 every six months so that at the end of five years $1,650 will have been accumulated.   With interest at 4% per year, compounded semiannually, how much should be deposited now? A. $455.35                                           B. $510.95                            C. $332.24                            D. $284.51 Answer:_________________ Show work
Your aunt has $820,000 invested at 5.5%, and she now wants to retire. She wants to...
Your aunt has $820,000 invested at 5.5%, and she now wants to retire. She wants to withdraw $45,000 at the beginning of each year,beginning immediately. She also wants to have $50,000 left to give you when she ceases to withdraw funds from the account. For how many years can she make the $45,000 withdrawals and still have $50,000 left in the end? a. 54 years b. 55 years c. 49 years d. 50 years e. 53 years
A deposit of $10,000 is made a year from now, a second deposit of $10,000 is...
A deposit of $10,000 is made a year from now, a second deposit of $10,000 is made at the end of the year 5, and a deposit of $3000 is made at the end of year 8. The account earns 6% interest. You want to withdraw an equal amount, X at the end of each year for the next 10 years. What is the amount of X if the goal is to empty the account?
Please show all of the factors used in the calculation – PV, I/Y, N, etc. –...
Please show all of the factors used in the calculation – PV, I/Y, N, etc. – NOT just the answer. If the calculation involves an annuity, please indicate if it is an ordinary annuity or an annuity due. a. On January 1, 2019 Tom Jeffers come to you, his CPA, and tells you he wants to retire in 10 years. His life expectancy is 20 years from his retirement. How much should he deposit on December 31, 2028 to be...
You deposit $5,000 into an account at the end of year 0. You deposit $5,000 every...
You deposit $5,000 into an account at the end of year 0. You deposit $5,000 every three (3) months beginning at the end of year 1 and continuing through the end of year 3. You also deposit into the account an amount X starting at the end of year 6 and repeat it every three (3) months for a total of four (4) deposits. You withdraw $112,160 at the end of year 7. After the withdrawal at the end of...
Please show all calculations and formulas. If using Excel (or tables), please show data, formulas, etc....
Please show all calculations and formulas. If using Excel (or tables), please show data, formulas, etc. Practice question 14: Calculate the company’s w.a.c.c. using the info below. ***assume this is a corporate bond that pays 2x annually when calculating the PV of the bond Harvey LLC’s capital structure consists of a 25-year bond issued 5 years ago with a coupon of 6% and a par value of $14,000,000. The company’s main competitor just issued a similar bond paying 5%. The...
Please write formulas and not solve in excel, i need to hand write and show work...
Please write formulas and not solve in excel, i need to hand write and show work on the test. 1. You invested $100 in investment B for 2 years, and $100 in investment B for 1 year. Your rate of return for both years was exactly the same. If at the end of the 2 years the money grew to $215.25. What was your compound return? 2. You invested $100 in investment A, Year 1 it grew by 10%, Year...
Please write legibly and do a step-by-step procedure to solve these problems. 1. S2,000.00 is invested...
Please write legibly and do a step-by-step procedure to solve these problems. 1. S2,000.00 is invested now and left for eight years, at which time the principal is withdrawn. The interest has accrued is left for another eight years. If the effective annual interest rate is 5%, what will be the withdrawal amount at the end of the 16th year? 2. Joanna plans to deposit S500 in the bank now and another S1,000 for the next 2 years. If she...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT