You feel that you will need $3.7 million in your retirement account and when you reach that amount, you plan to retire. You feel you can earn an APR of 10.2 percent compounded monthly and plan to save $530 per month until you reach your goal. How many years will it be until you reach your goal and retire?

Use the following information to answer this question: Windswept, Incorporated2024 Income Statement($ in millions)Net sales$ 8,700Cost of goods sold7,250Depreciation350Earnings before interest and taxes$ 1,100Interest paid83Taxable income$ 1,017Taxes214Net income$ 803 Windswept, Incorporated2023 and 2024 Balance Sheets($ in millions) 20232024 20232024Cash$ 140$ 120Accounts payable$ 1,070$ 1,212Accounts received800720Long-term debt9801,213Inventory1,5101,535Common stock3,1502,890Total$ 2,450$ 2,375Retained earnings450700Net fixed assets3,2003,640 Total assets$ 5,650$ 6,015Total liabilities & equity$ 5,650$ 6,015 What is the equity multiplier for 2024?

Your sister just deposited $12,500 into an investment account. She believes that she will earn an annual return of 10.2 percent for the next 9 years. You believe that you will only be able to earn an annual return of 9.6 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 9 years? (Assume annual compounding.)

You made an investment of $12,500 into an account that paid you an annual interest rate of 2.4 percent for the first 7 years and 6.8 percent for the next 4 years. What was your annual rate of return over the entire 11 years? (Assume annual compounding.)

You feel that you will need $1.8 million in your retirement account and when you reach that amount, you plan to retire. You feel you can earn an APR of 9.8 percent compounded monthly and plan to save $245 per month until you reach your goal. How many years will it be until you reach your goal and retire?

During the past year, a company had cash flow to stockholders, an operating cash flow, and net capital spending of $15,367, $36,076, and $15,420, respectively. The net working capital at the beginning of the year was $6,213 and it was $7,430 at the end of the year. What was the company’s cash flow to creditors during the year?

The winner of the first annual Tom Morris Golf Invitational won $165 in the competition which was held in 1911. In 2015, the winner received $1,580,000. If the winner’s purse continues to increase at the same interest rate, how much will the winner receive in 2045? (Assume annual compounding.)

Red Barchetta Company paid $27,545 in dividends and $28,374 in interest over the past year. During the year, net working capital increased from $13,530 to $18,244. The company purchased $42,110 in fixed assets and had a depreciation expense of $16,850. During the year, the company issued $25,025 in new equity and paid off $21,035 in long-term debt. What was the company’s cash flow from assets?

Red Barchetta Company paid $27,950 in dividends and $28,941 in interest over the past year. During the year, net working capital increased from $13,746 to $18,469. The company purchased $43,100 in fixed assets and had a depreciation expense of $17,255. During the year, the company issued $25,250 in new equity and paid off $21,350 in long-term debt. What was the company’s cash flow from assets?

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