Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Business & Finance Posted 12 May 2018 My Price 5.00

Springfield mogul Montgomery

(Future value of a complex annuity) Springfield mogul Montgomery Burns, age 90, wants to retire at age 100 so he can steal candy from babies full time. Once Mr Burns retires, he wants to withdraw $1.2 billion at the beginning of each year for 6 years from a special offshore account that will pay 23 percent annually. In order to fund his retirement, Mr. Bums will make 10 equal end-of-the-year deposits in this same special account that will pay 23 percent annually. How much money will Mr. Burns need at age 100, and how large of an annual deposit must he make to fund this retirement account? a. If the retirement account will pay 23 percent annually, how much money will M Burns need when he retires? 0.12 billion (Round to three decimal places.

Springfield mogul Montgomery Burns age 90 wants to retire at age 100 so he can steal candy from babies full time Once Mr. Burns retires, he wants to withdraw $1.2 billion at the beginning of each year for 6 years from a special offshore account that will pay 23 percent annually In order to fund his retirement. Mr, Bums will make 10 equal end-of-the-year deposits in this same special account that will pay 23 percent annually. How much money will Mr. Burns need at age 100. and how large of an annual deposit must he make to fund this retirement account? a. If the retirement account will pay 23 percent annually, how much money will Mr. Burns need when he retires? $0.12 billion (Round to three decimal places)

Answers

Maurice Tutor
(5)
Status NEW Posted 12 May 2018 06:05 PM My Price 5.00

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