Solved: How much contributed each year to give fund enough to retire, Finance Basics

+44 141 628 6080
[email protected]

How much contributed each year to give fund enough to retire

Jesper Parnevik borrowed $70,000 on March 1, 2006. This amount plus accrued interest at 12% compounded semiannually is to be repaid March 1, 2016. To retire this debt, Jesper plans to contribute to a debt retirement fund five equal amounts starting on March 1, 2011, and for the next 4 years. The fund is expected to earn 10% per annum.

Instructions

How much must be contributed each year by Jesper Parnevik to provide a fund sufficient to retire the debt on March 1, 2016?

View Complete Question

Solution Preview :

Prepared by a verified Expert

Finance Basics: How much contributed each year to give fund enough to retire

Reference No:- TGS0558144

Now Priced at $10 (50% Discount)

Recommended (92%)

Rated (4.4/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Finance Basics

Q : Calculating liquidity ratios

SDJ, Inc., has net working capital of $l,570 current liabilities of $4,380, and inventory of $1,875. What is the current ratio? What is the quick ratio?

Q : Cost of goods sold and operating profit margin

Centennial Chemical Corp. has a gross profit margin of 31.4 percent on revenues of $13,144,680 and EBIT of $2,586,150. What are the company's cost of goods sold and operating profit margin?

Q : Computing earnings per share for company

Cisco Systems had net income of $4.401 billion and, at year end, 6.735 billion shares outstanding. Calculate the earnings per share for the company.

Q : Analyze the account balances for account receivable

Analyze the account balances for account receivable, inentory, and short/current long-term deb. Describe any observations about those account and discuss additional information you want to consider during the current year audit.

Q : How much contributed each year to give fund enough to retire

How much must be contributed each year by Jesper Parnevik to provide a fund sufficient to retire the debt on March 1, 2016?

Q : Company days sales in receivables

Days' Sales in Receivables a company has net income of $195,000, a profit margin of 9.40 percent, and an accounts receivable balance of $106,851. Assuming 75 percent of sales are on credit, what are the company's days' sales in receivables?

Q : Du pont identity

Braam Fire Prevention Corp. has a profit margin of 8.70 percent. Total asset turnover of 1.45, and ROE of 18.67 percent. What is this firm's debt-equity ratio?

Q : Evaluate the performance of the two divisions

Back Mountain Industries (BMI) has two divisions: East and West. BMI has a cost-of-capital of 16.1%. Selected financial information (in thousands of dollars) for the first year of business follows.

Q : How many home runs is expected to hit in given year

If his home-run-hitting ability is expected to grow by 12 percent every year for the following five years, how many home runs is he expected to hit in 2017?

1924104

Questions
Asked

3,689

Active Tutors

1460481

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Solution Preview :

Prepared by a verified Expert

Finance Basics: How much contributed each year to give fund enough to retire

Reference No:- TGS0558144

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : Calculating liquidity ratios

Q : Cost of goods sold and operating profit margin

Q : Computing earnings per share for company

Q : Analyze the account balances for account receivable

Q : How much contributed each year to give fund enough to retire

Q : Company days sales in receivables

Q : Du pont identity

Q : Evaluate the performance of the two divisions

Q : How many home runs is expected to hit in given year

Problem concerning consensual sexual relationship

Describe some of your personality traits

Provide reasons why working from a person centred

Discuss children diagnosed with developmental disabilities

How we perceive objects in the real world

Discussion about the nature versus nurture

How ensure that the youth understand what study involves

Solution Preview :

Prepared by a verified Expert

Finance Basics: How much contributed each year to give fund enough to retire

Reference No:- TGS0558144

Recent Questions Asked Finance Basics

Q : Calculating liquidity ratios

Q : Cost of goods sold and operating profit margin

Q : Computing earnings per share for company

Q : Analyze the account balances for account receivable

Q : How much contributed each year to give fund enough to retire

Q : Company days sales in receivables

Q : Du pont identity

Q : Evaluate the performance of the two divisions

Q : How many home runs is expected to hit in given year

Asked Questions