You have 30 years left until retirement and want to retire with $5,000,000 saved. You plan to deposit 1,200 dollars into the account each month beginning one month from today. You currently have $20,000 saved. Calculate the rate of return (APR) you need to earn to reach your retirement goal. (Enter percentages as decimals and round to 4 decimals) 2. Tom Tom Co. has been working on new technology. This new technology will be available in the near term, and the firm's CEO anticipates the first cash flow to be $300,000, received four years from today. Subsequent annual cash flows will grow at 3% in perpetuity. Calculate the value of the technology today if the discount rate is 10%. (Round to 2 decimals)
1. You have 30 years left until retirement and want to retire with $5,000,000 saved. You plan to deposit 1,200 dollars into the account each month beginning one month from today. You currently have $20,000 saved. Calculate the
2. Tom Tom Co. has been working on new technology. This new technology will be available in the near term, and the firm's CEO anticipates the first cash flow to be $300,000, received four years from today. Subsequent annual cash flows will grow at 3% in perpetuity. Calculate the value of the technology today if the discount rate is 10%. (Round to 2 decimals)
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