Your uncle has a job that paid him the following year-end cash bonuses shown in the table below. Since he was a finance major in college, he invested all the bonuses he received in a stock mutual fund that earns 10% per year. How much would he have in his mutual fund account at the end of 2030? Year 2019 2020 2021 2022 Bonus $6,000 $8,000 $10,000 $15,000
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- Peter has opened a retirement investment account and plan to contribute $6,000 at the end of each year to his account for 30 years. He wants to retire when he has $1 million in the account. What expected annual rate of return must earn to have $1 million in his account? 11.24% 8.93% 9.26% 12.18% 10.07%Your uncle has $795,000 and wants to retire. He expects to live for another 25 years and to earn 7.5% on his invested funds. How much could he withdraw at the end of each of the next 25 years and end up with zero in the account? Select one: a. $59,908.79 b. $77,025.58 c. $71,319.98 d. $79,878.38 e. $72,033.18Accounting Q1: Randall receives a $4,200 monthly payment from a registered annuity. He calculates that 65.2% of the payment is a return of capital and the rest is interest. What portion of the payments would be taxable? Q2: Tony earned $80,000 last year, and there was a $4,800 pension adjustment. He will earn $84,000 this year. How much can he contribute to his RRSP this year, and what is his taxable income this year ?
- Hi there, Im working on this corporate finance problem, how do i solve using formulas? Today is your 60th birthday and you plan to retire today. You will make $1364.6 per month if you start your CPP at age 65. You don't want to wait until your 65 and want to start your CPP the day you turn 60. Your pension is reduced by 0.6% of the monthly payment for every month before age 65. What is the amount of your monthly CPP payment if you take the benefits at 60?Assume that you own an annuity that will pay you $15,000 per year for 12 years, with the first payment being made today. You need money today to start a new business, and your uncle offers to give you $160,000 for the annuity. If you sell it, what rate of return would your uncle earn on his investment? O 2.28% O 2.20% O 2.22% 2.33% 2.59%(1) SITUATION There are two brothers; Percy and Liam. They both have the goal to retire at the age of 65 with one million dollars in their respective bank accounts. They have been talking to people familiar with the stock market, who assure them that over long periods of time they will be able to earn an 8% return by investing. ANNUITIES Percy decides that instead of doing a one-time payment, he is going to save a little bit each month. If he begins saving $350 per month at age 25, will he meet his goal? (2) Liam follows his brother and begins to save $350 per month – except he again waits until he is 35. How much less will Liam have than his brother at retirement? .
- You want to retire with $400 000 in the bank and you are able to earn 6% compounded quarterly for the next 25 years. How much money do you have to invest today in order to achieve your goal? Select one: a. $90 251.77 b. $90 201.77 c. $90 001.78 d. $90 251.78 e. $90 001.77A recent college graduate with 42 years to retirement can accumulate a large sum of money via disciplined, regular investments. If he/she invests $190 each month until retirement and earns an APR of 7.9% on his/her investments, the accumulated sum for retirement will be: O$757,628 $756,542 $759,226 $674,549 4B Your father invested $50,000 for your education in the year 2000 in ABC bank. The bank paid 8.00% per annum, compounded semi-annually and credited the proceeds to your account in the year 2022. You have directed the bank to deposit this amount for 3 years at 8.25% compounded annually. How much will you have in your account in 2025?