You MUST use the TI BA II calculator features (N, I/Y, PV,PMT, FV, AMORT) to solve questions whenever possible.1. Seanna O'Brien receives pension payments of $3,200 at theend of every six months from a retirement fund of $50,000.The fund earns 7% compounded semi-annually. What is thesize of the final pension payment?2. For how many years will Prasad make payments on the$28,000 he borrowed to start his machine shop if he makespayments of $3,400 at the end of every three months andinterest is 8.08% compounded semi-annually?

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Answered: You MUST use the TI BA II calculator…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A retired couple plans to supplement their retirement income with monthly withdrawals of the interest earned on a retirement account which has a balance of $200,000. a. If the fund earns interest monthly at an APR of 6%, which the couple always withdraws from the account, how much is generated in interest each month? Round/take your answer to the nearest cent. Recall that APR stands for Annual Percentage Rate. 24 b. Estimate (to the nearest tenth of a percent) the annual interest rate needed for this couple to be able to earn $1,350 per month in interest from this $200,000 account. Round your answer to the nearest tenth of a percent, eg., 2.5%.
Withdrawal Amount. Over the years, Ahmed and Aamina El-zayaty, of Berkeley, California, have accumulated $200,000 and $220,000, respectively, in their employer-sponsored retirement plans. If the amounts in their two accounts earn a 6 percent rate of return over Ahmed and Aamina's anticipated 20 years of retirement, how large of an amount could be withdrawn from Ahmed's account each month? Use the Garman/Forgue companion website or Appendix A-4 to make your calculations. $1,787 $1,453 $2,287 $1,919
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PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS2.Alejandra Marrufo wants to know how much she should deposit today, so that in 10 years she will have the amount (VF) of 77,150.00, which she needs to make a pension payment for her domestic worker, a) if the account pays 8.125% interest compoundable semiannually; b) if the account pays 9.65% compoundable monthl
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Sandra plans to retire and can receive a lump sum of $26,376 from her pension provider. She decides to invest of the lump sum for 8 years and use the rest for 3 travelling. Her bank account pays 4.99% compound interest per annum. How much interest will Sandra receive from this investment after 8 years? Round your answer to the nearest thousand dollars. %24

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