1 currently you have 887921 in your ira account and want to, Ask an Expert

Finance

1. Currently you have $887,921 in your IRA account, and want to retire when its balance becomes $3 million. If you can earn 10% p.a. return, in how many years can you retire?

2. Silver Corporation agrees to pay an employee $6,000 a year for 20 years beginning twelve years from today and decides to fund the payments by depositing one lump sum in a savings account today. How much should the company deposit assuming the savings account will pay interest at an annual rate of 4%?

$50,931

$52,968.

$55,021.

$58,958.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92797238

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