Your grandfather likes to tell the story about how he started with 50 head of cattle on his ranch and grew the ranch to 1,000 head of cattle. He said "My plan was simple: grow the number of head of cattle at a rate of 10% per year." Your grandfather reached his goal before he retired. How long did it take him?
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Your grandfather likes to tell the story about how he started with 50 head of cattle on his ranch and grew the ranch to 1,000 head of cattle. He said "My plan was simple: grow the number of head of cattle at a rate of 10% per year." Your grandfather reached his goal before he retired. How long did it take him?
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- You inherited a huge mango garden in Rajshahi from a distantly related great grandfather. It opens two choices for you: Choice (1): Farm for mango yourself and produce mango juice. You will invest 300,000BDT to set it up. But at every year end you will earn 600,000BDT (after deduction of all the taxes etc...) for the next 5 years. Choice (2): Lease out the garden to a company. It pays you 800,000BDT at the beginning of each year for the next 3 years. But after that due to hyper production over natural limits your trees will go barren for the next 2 years and production will become negligible. Which option should you choose? Assume that yearly inflation rate is 5%.(Question #2) Dr. Pickens wants to buy a burger chain. He currently has $35,000. He needs to have $80,000 in 5 years. He can earn 12% compounded annually. If he saves money at the beginning of the year, how much must he save per year to meet his goal?Sam wants to save money to meet two objectives. First, he would like to buy a fishing boat 5 years from today at an estimated cost of $15,000. Second, he would like to retire 20 years from now and have a retirement income of $50,000 per year for at least 20 years. Sam can afford to save only $10,000 per year for the first 10 years. He expects to earn 8% per year on average from his savings over the next 40 years. What must his minimum yearly savings be for the second 10 years to meet his objectives?
- Ryan wants to retire in 10 years when he turns 65 but has determined he will need $1,000,000 to quit his job and live a lifestyle that is comfortable with him. He currently has $350,000 in his 401K and plans to save $850 per month until his 65th birthday. If his investment can earn an average of 9.75% per year, will he make his goal of $1,000,000? Please show your work and inputs if you use a calculator to solve the problem.Joanne is retiring this year. When she started saving 40 years ago, she planned to invest $1,000 per year in an account that promised her 5% annual rate of return. She diligently saved $1,000 every year, except for a five-year period that started fifteen years ago and ended ten years ago. How much does Joanne have in her account today?Your grandfather started his own business 52 years ago. He opened an investment account at the end of his third month of business and contributed $x. Every three months since then, he faithfully saved another $x. His savings account has earned an average rate of 5.73 percent annually. Today, his account is valued at $289.209.11. How much did your grandfather save every three months assuming he saved the same amount each time? Can the calculator and excel solution be provided?
- Your great-uncle Claude is 82 years old. Over the years, he has accumulated savings of $80,000. He estimates that he will live another 10 years at the most and wants to spend his savings by then. (If he lives longer than that, he figures you will be happy to take care of him) Uncle Claude places his $80,000 into an account earning10 percent annually and sets it up in such a way that he will be making 10 equal annual withdrawals-the first one occurring one year from now- such that his account balance will be zero at the end of 10 years. How much will he be able to with draweach year?Mr. and Mrs. Davis needs to have $100,000 to start their own catering business in 15 years. They expect to earn 7% annually on their investment. What amount do they need to have today so that they can reach their financial goal of having $100,000 in 15 years?Your great-uncle Claude is 82 years old. Over the years, he has accumulated savings of $80,000. He estimates that he will live another 10 years at the most and wants to spend his savings by then. (If he lives longer than that, he figures you will be happy to take care of him.) Uncle Claude places his $80,000 into an account earning 10 percent annually and sets it up in such a way that he will be making 10 equal annual withdrawals—the first one occurring one year from now—such that his account balance will be zero at the end of 10 years. How much will he be able to withdraw each year?
- Your good friend Andrew told you that his grandmother just passed. As the family went through her belongings, they found a set of stock certificates for a company called Pecan Perfection. The company bakes the best pecan pies. His grandma bought the stock 45 years ago for $500. After some investigation, it was found that his grandma's original investment was now worth $399,742. What was the average annual return of Andrew's grandma's investment over the past 45 years? (Please answer with two decimal places and without the percent sign.) -Your great - uncle Claude is 82 years old . Over the years , he has accumulated savings of $ 80,000 . He estimates that he will live another 10 years at the most and wants to spend his savings by then . ( If he lives longer than that , he figures you will be happy to take care of him . ) Uncle Claude places his $ 80,000 into an account earning 10 percent annually and sets it up in such a way that he will be making 10 equal annual withdrawals - the first one occurring one year from now — such that his account balance will be zero at the end of 10 years . How much will he be able to withdraw each year ? EBK CONTEMPORARY FINANCIAL MANAGEM chapter5, problem 14pChe-Che bought his brother a laptop 5 years ago which has a cost of around 25,000PhP. The laptop’s life span will last until 5 years. She has a friend which is a computer technician who advised her that the laptop’s life span could extend until 10 years if she could spend semi-annual maintenance of 100Php with a 10Php increase rate starting the next period of maintenance inspection. How much is the total future cost assuming that the money will have a rate of 2% compounded semi-annually if she decided to enjoy using her laptop beyond the expected life span upon purchasing?