JACK plans to retire after 20 years. Deposit account in a bank for this He thinks to open it. The interest on time deposits applied by the bank is 12% per annum. JACK He will deposit equal money every 3 months to his account. 5 years after retirement wants to withdraw $ 55,000 from this account every 6 months. Retired for the first time from the account will withdraw money 6 months after it occurs. a) Cash flow sequences regarding the amounts Jack deposited and withdrawn from the account Draw. b) How much money should Jack deposit her to the account she will open every 3 months?

JACK plans to retire after 20 years. Deposit account in a bank for this He thinks to open it. The interest on time deposits applied by the bank is 12% per annum. JACK He will deposit equal money every 3 months to his account. 5 years after retirement wants to withdraw $ 55,000 from this account every 6 months. Retired for the first time from the account will withdraw money 6 months after it occurs. a) Cash flow sequences regarding the amounts Jack deposited and withdrawn from the account Draw. b) How much money should Jack deposit her to the account she will open every 3 months?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4MC: Refer to the present value table information on the previous page. What amount should Brett have in...

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Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264
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