1. William Wallace is planning for retirement. Right now he has $12,000 in his...
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Finance
1.
William Wallace is planning for retirement. Right now he has $12,000 in his 401(k) account at work that earns an average of 8.50 percent per year. He is currently 30 years old, and he will invest another $2,500 per year until he retires at age 65. After he retires, how much can he withdraw each year if he expects to live until age 90?
2.
Alfred Inc. can purchase some heavy equipment for $1,750,000 that provides positive cash flows of $840,000 for four years. What rate of return does this opportunity offer?
3.
William Conqueror has applied for a loan of $90,000 to finance the purchase of a new business. The bank will require him to make annual payments of $10,850 at the end of each of the next 18 years. Determine the interest rate in effect on this loan.
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