BREAK-EVEN ANALYSIS Based On Accounting Profit

Inputs Break-Even Point Based On Acct. Profit = 0

$150,000

Fixed Costs $30,000 30 $120,000

$90,000
Total Costs
Sales Revenue / Unit $6.00 6 $60,000
Sales
$30,000 Revenue
Variable Costs / Unit $4.00 4 Accounting
$0 Profit
($30,000)
($60,000)
0 5,000 10,000 15,000 20,000
Unit Sales

Calculate the Break-even Point using the Formula

Break-even Point (Unit Sales) 15,000

Back solve for the Break-even Point using the Income Statement
Unit Sales 15,000
Sales Revenue $90,000
Variable Costs $60,000
Gross Margin $30,000
Fixed Costs $30,000
Accounting Profit $0

Gross Margin - Fixed Costs )7(

Enter =B21-B22
Data Table: Sensitivity of Costs, Revenues, and Acct. Profit to Unit Sales
Input Values for Unit Sales
Output Formulas: 0 5,000 10,000 15,000 20,000
Total Costs $90,000
Sales Revenue $90,000
Accounting Profit $0 ($30,000) ($20,000) ($10,000) $0 $10,000
BREAK-EVEN ANALYSIS Based On NPV
(in thousands of $)
Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
Key Assumptions
Sales Growth Rate 55.0% 40.0% 25.0% 5.0% -20.0% -50.0%
Change in Sales Growth Rate -15.0% -15.0% -20.0% -25.0% -30.0%
Inflation Rate 2.0% 2.5% 3.0% 3.5% 4.0% 4.0% 4.0%
Real Cost of Capital 11.0% 11.2% 11.4% 11.6% 11.8% 12.0% 12.2%
Tax Rate 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%

Discounting
Discount Rate = Cost of Capital 13.2% 14.0% 14.7% 15.5% 16.3% 16.5% 16.7%
Cumulative Discount Factor 0.0% 13.2% 29.0% 48.1% 71.0% 98.9% 131.6% 170.3%

Price or Cost / Unit

Unit Sales 2,100 3255 4557 5696 5981 4785 2392
Sales Revenue / Unit $9.70 $9.94 $10.24 $10.60 $11.02 $11.46 $11.92
Variable Cost / Unit $7.40 $7.59 $7.81 $8.09 $8.41 $8.75 $9.10
Cash Fixed Costs $5,280 $5,412 $5,574 $5,769 $6,000 $6,240 $6,490

Cash Flow Forecasts

Sales Revenue $20,370 $32,363 $46,667 $60,376 $65,930 $54,854 $28,524
Variable Costs $15,540 $24,689 $35,602 $46,060 $50,297 $41,847 $21,761
Gross Margin $4,830 $7,674 $11,065 $14,316 $15,633 $13,007 $6,763

Cash Fixed Costs $5,280 $5,412 $5,574 $5,769 $6,000 $6,240 $6,490
Depreciation $1,421 $1,421 $1,421 $1,421 $1,421 $1,421 $1,421
Total Fixed Costs $6,701 $6,833 $6,996 $7,191 $7,422 $7,662 $7,911

Operating Profit ($1,871) $840 $4,070 $7,125 $8,211 $5,345 ($1,148)

Taxes ($655) $294 $1,424 $2,494 $2,874 $1,871 ($402)
Net Profit ($1,216) $546 $2,645 $4,631 $5,337 $3,474 ($746)

Add Back Depreciation $1,421 $1,421 $1,421 $1,421 $1,421 $1,421 $1,421
Operating Cash Flow $205 $1,968 $4,067 $6,053 $6,759 $4,896 $675

Investment in Plant & Equip ($11,350) $1,400

Cash Flows ($11,350) $205 $1,968 $4,067 $6,053 $6,759 $4,896 $2,075
Present Value of Each Cash Flow ($11,350) $181 $1,525 $2,746 $3,539 $3,399 $2,114 $768
Net Present Value $2,921

Data Table: Sensitivity of Net Present Value to Year 1 Unit Sales

 and Year 2 Sales Growth Rate
Output Formula: Input Values for Year 1 Unit Sales
Net Present Value $2,921 1,700 1,900 2,100 2,300
45.0%
Input Values for Year 2 50.0%
Sales Growth Rate 55.0%
60.0%
65.0%

NPV Break-Even Contour (Based On NPV = 0) Across

Year 1 Unit Sales And Year 2 Sales Growth Rate

$10
$9 NPV Break-Even
Contour
$8
$7
Net Present Value

$6
$5
$4
$3
$2
$1
$0 65.0%
2,300 60.0%
2,100 55.0%
1,900 50.0%
1,700 45.0%
Year 1 Unit Sales Year 2 Sales Growth Rate
•A typical exercise is the following: You are currently 55 years old and intend to retire at ag
a retirement account: At the beginning of each of years 1, 2, 3, 4 (that is, starting today and
intend to make a deposit into the retirement account. You think that the account will earn 8
•After retirement at age 60, you anticipate living 8 more years. At the beginning of each of
retirement account. Your account balances will continue to earn 8%. How much should you

Inputs
Account Balance at the
beginning of year 1
Interest 8%
Annual Deposit 37,914
Annual Retirement
Withdrawal (30,000)

Outputs

PAYMENT SCHEDULE
KỲ (NĂM) SỐ DƯ ĐẦU TIỀN GỬI TIỀN LÃI SỐ DƯ CUỐI
KỲ ĐẦU KỲ TRONG KỲ KỲ
Deposit
Account Balance
at the Interest earned Total in Account
Periods (YEAR) at the beginning
beginning of during the year end year
of year
year

1 0.00 29,387 2,351 31,737

2 31,737 37,914 5,572 75,223
3 66,014 37,914 8,314 112,242
4 112,242 37,914 12,012 162,168
5 162,168 37,914 16,007 216,088
6 216,088 (30,000) 12,495 198,583
7 198,583 (30,000) 13,487 182,070
8 182,070 (30,000) 12,166 164,235
9 164,235 (30,000) 10,739 144,974
10 144,974 (30,000) 9,198 124,172
11 124,172 (30,000) 7,534 101,706
12 101,706 (30,000) 5,736 77,443
13 77,443 (30,000) 3,795 51,238
 intend to retire at age 60. To make your retirement easier, you intend to start
, starting today and at the beginning of each of the next four years), you
e account will earn 8% per year.
beginning of each of these years you want to withdraw $30,000 from your
ow much should you deposit annually in the account?
16.3. Jessica Jones intention to make a loan from the Citibank to buy property in Edinburgh
of £400,000 in 8 years. If you were her banker, please build up for her payment schedule wi
payment in every period by using Goal Seek and IPMT function.

Inputs
Loan principle 400,000.00
Interest rate/month 0.75%
Loan term (years) 8

Number of compounding
periods/year 12
Number of periods 96

Outputs
Total Payment/month $5,860.08

PAYMENT SCHEDULE
Beginning
Period Principle Total Payment Interest Payment
Balance
1 400,000.00 $5,860.08 3,000.00
2 397,139.92 $5,860.08 2,978.55
3 394,258.39 $5,860.08 2,956.94
4 391,355.24 $5,860.08 2,935.16
5 388,430.33 $5,860.08 2,913.23
6 385,483.47 $5,860.08 2,891.13
7 382,514.52 $5,860.08 2,868.86
8 379,523.29 $5,860.08 2,846.42
9 376,509.64 $5,860.08 2,823.82
10 373,473.38 $5,860.08 2,801.05
11 370,414.35 $5,860.08 2,778.11
12 367,332.37 $5,860.08 2,754.99
13 364,227.29 $5,860.08 2,731.70
14 361,098.91 $5,860.08 2,708.24
15 357,947.07 $5,860.08 2,684.60
16 354,771.59 $5,860.08 2,660.79
17 351,572.30 $5,860.08 2,636.79
18 348,349.01 $5,860.08 2,612.62
19 345,101.54 $5,860.08 2,588.26
20 341,829.72 $5,860.08 2,563.72
21 338,533.37 $5,860.08 2,539.00
22 335,212.29 $5,860.08 2,514.09
23 331,866.30 $5,860.08 2,489.00
24 328,495.21 $5,860.08 2,463.71
25 325,098.84 $5,860.08 2,438.24
26 321,677.00 $5,860.08 2,412.58
27 318,229.50 $5,860.08 2,386.72
28 314,756.14 $5,860.08 2,360.67
29 311,256.73 $5,860.08 2,334.43
30 307,731.07 $5,860.08 2,307.98
31 304,178.98 $5,860.08 2,281.34
32 300,600.24 $5,860.08 2,254.50
33 296,994.66 $5,860.08 2,227.46
34 293,362.04 $5,860.08 2,200.22
35 289,702.17 $5,860.08 2,172.77
36 286,014.86 $5,860.08 2,145.11
37 282,299.89 $5,860.08 2,117.25
38 278,557.05 $5,860.08 2,089.18
39 274,786.15 $5,860.08 2,060.90
40 270,986.97 $5,860.08 2,032.40
41 267,159.29 $5,860.08 2,003.69
42 263,302.90 $5,860.08 1,974.77
43 259,417.59 $5,860.08 1,945.63
44 255,503.14 $5,860.08 1,916.27
45 251,559.33 $5,860.08 1,886.69
46 247,585.95 $5,860.08 1,856.89
47 243,582.76 $5,860.08 1,826.87
48 239,549.55 $5,860.08 1,796.62
49 235,486.09 $5,860.08 1,766.15
50 231,392.15 $5,860.08 1,735.44
51 227,267.51 $5,860.08 1,704.51
52 223,111.94 $5,860.08 1,673.34
53 218,925.20 $5,860.08 1,641.94
54 214,707.05 $5,860.08 1,610.30
55 210,457.28 $5,860.08 1,578.43
56 206,175.62 $5,860.08 1,546.32
57 201,861.86 $5,860.08 1,513.96
58 197,515.74 $5,860.08 1,481.37
59 193,137.03 $5,860.08 1,448.53
60 188,725.48 $5,860.08 1,415.44
61 184,280.84 $5,860.08 1,382.11
62 179,802.86 $5,860.08 1,348.52
63 175,291.30 $5,860.08 1,314.68
64 170,745.90 $5,860.08 1,280.59
65 166,166.42 $5,860.08 1,246.25
66 161,552.58 $5,860.08 1,211.64
67 156,904.15 $5,860.08 1,176.78
68 152,220.85 $5,860.08 1,141.66
69 147,502.42 $5,860.08 1,106.27
70 142,748.61 $5,860.08 1,070.61
71 137,959.14 $5,860.08 1,034.69
72 133,133.75 $5,860.08 998.50
73 128,272.18 $5,860.08 962.04
74 123,374.14 $5,860.08 925.31
75 118,439.36 $5,860.08 888.30
76 113,467.57 $5,860.08 851.01
77 108,458.50 $5,860.08 813.44
78 103,411.86 $5,860.08 775.59
79 98,327.37 $5,860.08 737.46
80 93,204.74 $5,860.08 699.04
81 88,043.69 $5,860.08 660.33
82 82,843.94 $5,860.08 621.33
83 77,605.19 $5,860.08 582.04
84 72,327.15 $5,860.08 542.45
85 67,009.52 $5,860.08 502.57
86 61,652.01 $5,860.08 462.39
87 56,254.32 $5,860.08 421.91
88 50,816.14 $5,860.08 381.12
89 45,337.18 $5,860.08 340.03
90 39,817.13 $5,860.08 298.63
91 34,255.68 $5,860.08 256.92
92 28,652.51 $5,860.08 214.89
93 23,007.33 $5,860.08 172.55
94 17,319.80 $5,860.08 129.90
95 11,589.62 $5,860.08 86.92
96 5,816.46 $5,860.08 43.62
 y property in Edinburgh. Citibank offered her monthly interest rate: 0.75%. She could pay back
her payment schedule with the clear breakdown in term of interest payment and principal

Principle Payment

$2,860.08
$2,881.53
$2,903.14
$2,924.92
$2,946.85
$2,968.96
$2,991.22
$3,013.66
$3,036.26
$3,059.03
$3,081.97
$3,105.09
$3,128.38
$3,151.84
$3,175.48
$3,199.29
$3,223.29
$3,247.46
$3,271.82
$3,296.36
$3,321.08
$3,345.99
$3,371.08
$3,396.37
$3,421.84
$3,447.50
$3,473.36
$3,499.41
$3,525.66
$3,552.10
$3,578.74
$3,605.58
$3,632.62
$3,659.87
$3,687.32
$3,714.97
$3,742.83
$3,770.90
$3,799.19
$3,827.68
$3,856.39
$3,885.31
$3,914.45
$3,943.81
$3,973.39
$4,003.19
$4,033.21
$4,063.46
$4,093.94
$4,124.64
$4,155.57
$4,186.74
$4,218.14
$4,249.78
$4,281.65
$4,313.76
$4,346.12
$4,378.71
$4,411.55
$4,444.64
$4,477.98
$4,511.56
$4,545.40
$4,579.49
$4,613.83
$4,648.44
$4,683.30
$4,718.42
$4,753.81
$4,789.47
$4,825.39
$4,861.58
$4,898.04
$4,934.78
$4,971.79
$5,009.07
$5,046.64
$5,084.49
$5,122.63
$5,161.05
$5,199.75
$5,238.75
$5,278.04
$5,317.63
$5,357.51
$5,397.69
$5,438.17
$5,478.96
$5,520.05
$5,561.45
$5,603.16
$5,645.19
$5,687.53
$5,730.18
$5,773.16
$5,816.46
ould pay back
principal
A project has a fixed cost of $80,000, variable costs of $8.20 per unit, and generates sales revenue of $14.40 per unit. What is

Inputs
Fixed Costs 80,000.00
Sales Revenue / Unit 14.4
Variable Costs / Unit 8.2

Calculate the Break-even Point using the Formula

Break-even Point (Unit Sales) 12,903

Back solve for the Break-even Point using the Income Statement
Unit Sales 12,903
Sales Revenue $185,806
Variable Costs $105,806
Gross Margin $80,000
Fixed Costs 80,000.00
Accounting Profit $0
evenue of $14.40 per unit. What is the break-even point in unit sales, where accounting profit exactly equals zero, and what is the intuition fo

Data Table: Sensitivity of Costs, Revenues, and Acct. Profit to Unit Sales
Input Values for Unit Sales
Output Formulas: $0 9,000 10,000 11,000 12,000 13,000
Total Costs 185,806.45
Sales Revenue $185,806
Accounting Profit $0 ($24,200) ($18,000) ($11,800) ($5,600) $600
nd what is the intuition for it?
Suppose a firm is considering the following project, where all of the dollar figures are in thousands of dollars. In year 0, the proj
method over seven years, and has a salvage value of $5,800 in year 7. The project is forecast to generate sales of 4,800 units
decline by 12.0% in years 3, to decline by 16.0% in year 4, to decline by 18.0% in year 5, to decline by 23.0% in year 6, to decl
3.0% in year 1 and rising to 3.8% in year 7. The real cost of capital is forecast to be 10.5% in year 1, rising to 12.0% in year 7. T
year 1 and then to grow with inflation. Variable cost per unit is forecast to be $6.90 in year 1 and then to grow with inflation. Cas
project’s NPV? What is the NPV Break-Even Point in Year 1 Unit Sales, where NPV equals zero? What is the NPV Break-Even
Contour in the two-dimensional space of Year 1 Unit Sales and Year 2 Sales Growth Rate?

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

Key Assumptions
Sales Growth Rate 75.0% -12.0% -16.0% -18.0% -23.0%
Change in Sales Growth Rate -15.0% -15.0% -20.0% -25.0%
Inflation Rate increment 0.1% 0.2% 0.4% 0.6% 0.7%
Inflation Rate 3.0% 3.1% 3.2% 3.4% 3.6% 3.7%
Real Cost of Capital increment 0.7% 0.9% 1.0% 1.1% 1.2%
Real Cost of Capital 10.5% 11.2% 11.4% 11.5% 11.6% 11.7%
Tax Rate 38.0% 38.0% 38.0% 38.0% 38.0% 38.0%

Discounting
Discount Rate = Cost of Capital 13.8% 14.6% 15.0% 15.3% 15.6% 15.8%
Cumulative Discount Factor 0.0% 13.8% 30.5% 50.0% 73.0% 100.0% 131.6%

Price or Cost / Unit

Unit Sales 4,800.00 8,400.00 7,392.00 6,209.28 5,091.61 3,920.54
Sales Revenue / Unit $11.90 $12.27 $12.66 $13.09 $13.56 $14.07
Variable Cost / Unit $6.90 $7.11 $7.34 $7.59 $7.86 $8.16
Cash Fixed Costs $5,740 $5,918 $6,107 $6,315 $6,542 $6,784

Cash Flow Forecasts

Sales Revenue $57,120 $103,059 $93,594 $81,292 $69,059 $55,143
Variable Costs $33,120 $59,757 $54,269 $47,136 $40,043 $31,974
Gross Margin $24,000 $43,302 $39,325 $34,156 $29,016 $23,169

Cash Fixed Costs $5,740 $5,918 $6,107 $6,315 $6,542 $6,784

Depreciation $2,670 $2,670 $2,670 $2,670 $2,670 $2,670
Total Fixed Costs $8,410 $8,588 $8,777 $8,985 $9,212 $9,454

Operating Profit $15,590 $34,714 $30,548 $25,171 $19,804 $13,715

Taxes $5,924 $13,191 $11,608 $9,565 $7,526 $5,212
Net Profit $9,666 $21,523 $18,940 $15,606 $12,279 $8,503

Add Back Depreciation $2,670 $2,670 $2,670 $2,670 $2,670 $2,670

Operating Cash Flow $12,336 $24,193 $21,610 $18,276 $14,949 $11,173

Investment in Plant & Equip ($24,490)

Cash Flows ($24,490) $12,336 $24,193 $21,610 $18,276 $14,949 $11,173
Present Value of Each Cash Flow ($24,490) $10,838 $18,541 $14,405 $10,567 $7,476 $4,824
Net Present Value $46,947
of dollars. In year 0, the project requires $24,490 investment in plant and equipment, is depreciated using the straight-line
enerate sales of 4,800 units in year 1 and grow at a sales growth rate of 75.0% in year 2. The sales growth rate is forecast to
e by 23.0% in year 6, to decline by 30.0% in year 7. Unit sales will drop to zero in year 8. The inflation rate is forecast to be
1, rising to 12.0% in year 7. The tax rate is forecast to be a constant 38.0%. Sales revenue per unit is forecast to be $11.90 in
en to grow with inflation. Cash fixed costs are forecast to be $5,740 in year 1 and then to grow with inflation. What is the
What is the NPV Break-Even Point in the Year 2 Sales Growth Rate, where NPV equals zero? What is the NPV Break-Even

Year 7 Data Table: Sensitivity of Net Present Value to Year 1 Unit Sales
and Year 2 Sales Growth Rate
-30.0% Output Formula: Input Values for Year 1 Unit Sales
-30.0% Net Present Value $46,947 1,700 1,900 2,100 2,300
0.8% 40%
3.8% 45.0%
1.5% 47.0%
12.0% Input Values for Year 2 50.0%
38.0% Sales Growth Rate 55.0%
60.0%
65.0%
16.3%
169.3%

2,744.38
$14.60
$8.47
$7,042

$40,067
$23,232
$16,835

$7,042
$2,670
$9,712

$7,123
$2,707
$4,416

$2,670
$7,086

$5,800
$12,886
$4,785
Jessica Jones intention to make a loan from the Citibank to buy property in Edinburgh. Citibank offered her monthly interest rat
£400,000 in 8 years. If you were her banker, please build up for her payment schedule with the clear breakdown in term of inter
in every period by using Goal Seek and IPMT function.

Loan principle 400,000.00

Interest rate/month 0.75%
Loan term (years) 8

Number of compounding
periods/year 12
Number of periods 96
Outputs
Total Payment/month $5,860.08

PAYMENT SCHEDULE
Beginning
Total Interest Principle
Period Principle
Payment Payment Payment
Balance
1 400,000.00 $5,860.08 $3,000.00 $2,860.08
2 397,139.92 $5,860.08 $2,978.55 $2,881.53
3 394,258.39 $5,860.08 $2,956.94 $2,903.14
4 391,355.24 $5,860.08 $2,935.16 $2,924.92
5 388,430.33 $5,860.08 $2,913.23 $2,946.85
6 385,483.47 $5,860.08 $2,891.13 $2,968.96
7 382,514.52 $5,860.08 $2,868.86 $2,991.22
8 379,523.29 $5,860.08 $2,846.42 $3,013.66
9 376,509.64 $5,860.08 $2,823.82 $3,036.26
10 373,473.38 $5,860.08 $2,801.05 $3,059.03
11 370,414.35 $5,860.08 $2,778.11 $3,081.97
12 367,332.37 $5,860.08 $2,754.99 $3,105.09
13 364,227.29 $5,860.08 $2,731.70 $3,128.38
14 361,098.91 $5,860.08 $2,708.24 $3,151.84
15 357,947.07 $5,860.08 $2,684.60 $3,175.48
16 354,771.59 $5,860.08 $2,660.79 $3,199.29
17 351,572.30 $5,860.08 $2,636.79 $3,223.29
18 348,349.01 $5,860.08 $2,612.62 $3,247.46
19 345,101.54 $5,860.08 $2,588.26 $3,271.82
20 341,829.72 $5,860.08 $2,563.72 $3,296.36
21 338,533.37 $5,860.08 $2,539.00 $3,321.08
22 335,212.29 $5,860.08 $2,514.09 $3,345.99
23 331,866.30 $5,860.08 $2,489.00 $3,371.08
24 328,495.21 $5,860.08 $2,463.71 $3,396.37
25 325,098.84 $5,860.08 $2,438.24 $3,421.84
26 321,677.00 $5,860.08 $2,412.58 $3,447.50
27 318,229.50 $5,860.08 $2,386.72 $3,473.36
28 314,756.14 $5,860.08 $2,360.67 $3,499.41
29 311,256.73 $5,860.08 $2,334.43 $3,525.66
30 307,731.07 $5,860.08 $2,307.98 $3,552.10
31 304,178.98 $5,860.08 $2,281.34 $3,578.74
32 300,600.24 $5,860.08 $2,254.50 $3,605.58
33 296,994.66 $5,860.08 $2,227.46 $3,632.62
34 293,362.04 $5,860.08 $2,200.22 $3,659.87
35 289,702.17 $5,860.08 $2,172.77 $3,687.32
36 286,014.86 $5,860.08 $2,145.11 $3,714.97
37 282,299.89 $5,860.08 $2,117.25 $3,742.83
38 278,557.05 $5,860.08 $2,089.18 $3,770.90
39 274,786.15 $5,860.08 $2,060.90 $3,799.19
40 270,986.97 $5,860.08 $2,032.40 $3,827.68
41 267,159.29 $5,860.08 $2,003.69 $3,856.39
42 263,302.90 $5,860.08 $1,974.77 $3,885.31
43 259,417.59 $5,860.08 $1,945.63 $3,914.45
44 255,503.14 $5,860.08 $1,916.27 $3,943.81
45 251,559.33 $5,860.08 $1,886.69 $3,973.39
46 247,585.95 $5,860.08 $1,856.89 $4,003.19
47 243,582.76 $5,860.08 $1,826.87 $4,033.21
48 239,549.55 $5,860.08 $1,796.62 $4,063.46
49 235,486.09 $5,860.08 $1,766.15 $4,093.94
50 231,392.15 $5,860.08 $1,735.44 $4,124.64
51 227,267.51 $5,860.08 $1,704.51 $4,155.57
52 223,111.94 $5,860.08 $1,673.34 $4,186.74
53 218,925.20 $5,860.08 $1,641.94 $4,218.14
54 214,707.05 $5,860.08 $1,610.30 $4,249.78
55 210,457.28 $5,860.08 $1,578.43 $4,281.65
56 206,175.62 $5,860.08 $1,546.32 $4,313.76
57 201,861.86 $5,860.08 $1,513.96 $4,346.12
58 197,515.74 $5,860.08 $1,481.37 $4,378.71
59 193,137.03 $5,860.08 $1,448.53 $4,411.55
60 188,725.48 $5,860.08 $1,415.44 $4,444.64
61 184,280.84 $5,860.08 $1,382.11 $4,477.98
62 179,802.86 $5,860.08 $1,348.52 $4,511.56
63 175,291.30 $5,860.08 $1,314.68 $4,545.40
64 170,745.90 $5,860.08 $1,280.59 $4,579.49
65 166,166.42 $5,860.08 $1,246.25 $4,613.83
66 161,552.58 $5,860.08 $1,211.64 $4,648.44
67 156,904.15 $5,860.08 $1,176.78 $4,683.30
68 152,220.85 $5,860.08 $1,141.66 $4,718.42
69 147,502.42 $5,860.08 $1,106.27 $4,753.81
70 142,748.61 $5,860.08 $1,070.61 $4,789.47
71 137,959.14 $5,860.08 $1,034.69 $4,825.39
72 133,133.75 $5,860.08 $998.50 $4,861.58
73 128,272.18 $5,860.08 $962.04 $4,898.04
74 123,374.14 $5,860.08 $925.31 $4,934.78
75 118,439.36 $5,860.08 $888.30 $4,971.79
76 113,467.57 $5,860.08 $851.01 $5,009.07
77 108,458.50 $5,860.08 $813.44 $5,046.64
78 103,411.86 $5,860.08 $775.59 $5,084.49
79 98,327.37 $5,860.08 $737.46 $5,122.63
80 93,204.74 $5,860.08 $699.04 $5,161.05
81 88,043.69 $5,860.08 $660.33 $5,199.75
82 82,843.94 $5,860.08 $621.33 $5,238.75
83 77,605.19 $5,860.08 $582.04 $5,278.04
84 72,327.15 $5,860.08 $542.45 $5,317.63
85 67,009.52 $5,860.08 $502.57 $5,357.51
86 61,652.01 $5,860.08 $462.39 $5,397.69
87 56,254.32 $5,860.08 $421.91 $5,438.17
88 50,816.14 $5,860.08 $381.12 $5,478.96
89 45,337.18 $5,860.08 $340.03 $5,520.05
90 39,817.13 $5,860.08 $298.63 $5,561.45
91 34,255.68 $5,860.08 $256.92 $5,603.16
92 28,652.51 $5,860.08 $214.89 $5,645.19
93 23,007.33 $5,860.08 $172.55 $5,687.53
94 17,319.80 $5,860.08 $129.90 $5,730.18
95 11,589.62 $5,860.08 $86.92 $5,773.16
96 5,816.46 $5,860.08 $43.62 $5,816.46
0.00
ered her monthly interest rate: 0.75%. She could pay back of
ar breakdown in term of interest payment and principal payment
ABC Corp. purchased a piece of property for $5 million. The firm paid a down payment of 15 percent in cash and financed the b
at an annual percentage rate of 7.5 percent, compounded monthly. Please build up for ABC payment schedule with the clear b
every period by using Goal Seek and IPMT function.

Loan 5000000
Down payment 15%
Loan principle 4,250,000.00
Interest rate/year 7.50% Interest rate/month 0.63%
Loan term (years) 15

Number of compounding
periods/year 12
Number of periods 180
Outputs
Total Payment/month $43,564.69
PAYMENT SCHEDULE

Beginning
Interest Principle
Period Principle Total Payment
Payment Payment
Balance
1 5000000 $43,564.69 $26,562.50 $17,002.19
2 $4,982,997.81 $43,564.69 $26,482.28 $17,082.41
3 $4,965,915.39 $43,564.69 $26,401.55 $17,163.14
4 $4,948,752.26 $43,564.69 $26,320.33 $17,244.37
5 $4,931,507.89 $43,564.69 $26,238.59 $17,326.10
6 $4,914,181.79 $43,564.69 $26,156.34 $17,408.35
7 $4,896,773.44 $43,564.69 $26,073.58 $17,491.11
8 $4,879,282.33 $43,564.69 $25,990.31 $17,574.39
9 $4,861,707.95 $43,564.69 $25,906.51 $17,658.18
10 $4,844,049.77 $43,564.69 $25,822.19 $17,742.51
11 $4,826,307.26 $43,564.69 $25,737.34 $17,827.35
12 $4,808,479.90 $43,564.69 $25,651.96 $17,912.73
13 $4,790,567.17 $43,564.69 $25,566.04 $17,998.65
14 $4,772,568.52 $43,564.69 $25,479.59 $18,085.10
15 $4,754,483.43 $43,564.69 $25,392.60 $18,172.09
16 $4,736,311.34 $43,564.69 $25,305.07 $18,259.62
17 $4,718,051.72 $43,564.69 $25,216.99 $18,347.70
18 $4,699,704.02 $43,564.69 $25,128.36 $18,436.33
19 $4,681,267.68 $43,564.69 $25,039.17 $18,525.52
20 $4,662,742.16 $43,564.69 $24,949.43 $18,615.26
21 $4,644,126.90 $43,564.69 $24,859.13 $18,705.57
22 $4,625,421.34 $43,564.69 $24,768.26 $18,796.43
23 $4,606,624.90 $43,564.69 $24,676.82 $18,887.87
24 $4,587,737.03 $43,564.69 $24,584.81 $18,979.88
25 $4,568,757.16 $43,564.69 $24,492.23 $19,072.46
26 $4,549,684.70 $43,564.69 $24,399.07 $19,165.62
27 $4,530,519.07 $43,564.69 $24,305.33 $19,259.36
28 $4,511,259.71 $43,564.69 $24,211.00 $19,353.69
29 $4,491,906.02 $43,564.69 $24,116.08 $19,448.61
30 $4,472,457.40 $43,564.69 $24,020.57 $19,544.12
31 $4,452,913.28 $43,564.69 $23,924.46 $19,640.23
32 $4,433,273.04 $43,564.69 $23,827.75 $19,736.94
33 $4,413,536.10 $43,564.69 $23,730.43 $19,834.26
34 $4,393,701.84 $43,564.69 $23,632.51 $19,932.18
35 $4,373,769.66 $43,564.69 $23,533.98 $20,030.71
36 $4,353,738.95 $43,564.69 $23,434.83 $20,129.87
37 $4,333,609.08 $43,564.69 $23,335.06 $20,229.64
38 $4,313,379.45 $43,564.69 $23,234.66 $20,330.03
39 $4,293,049.42 $43,564.69 $23,133.64 $20,431.05
40 $4,272,618.37 $43,564.69 $23,031.99 $20,532.70
41 $4,252,085.67 $43,564.69 $22,929.70 $20,634.99
42 $4,231,450.68 $43,564.69 $22,826.78 $20,737.92
43 $4,210,712.76 $43,564.69 $22,723.20 $20,841.49
44 $4,189,871.27 $43,564.69 $22,618.99 $20,945.70
45 $4,168,925.57 $43,564.69 $22,514.12 $21,050.57
46 $4,147,874.99 $43,564.69 $22,408.59 $21,156.10
47 $4,126,718.90 $43,564.69 $22,302.41 $21,262.28
48 $4,105,456.61 $43,564.69 $22,195.56 $21,369.13
49 $4,084,087.48 $43,564.69 $22,088.05 $21,476.65
50 $4,062,610.84 $43,564.69 $21,979.86 $21,584.83
51 $4,041,026.01 $43,564.69 $21,871.00 $21,693.70
52 $4,019,332.31 $43,564.69 $21,761.45 $21,803.24
53 $3,997,529.07 $43,564.69 $21,651.22 $21,913.47
54 $3,975,615.60 $43,564.69 $21,540.31 $22,024.39
55 $3,953,591.22 $43,564.69 $21,428.70 $22,136.00
56 $3,931,455.22 $43,564.69 $21,316.39 $22,248.31
57 $3,909,206.91 $43,564.69 $21,203.38 $22,361.32
58 $3,886,845.60 $43,564.69 $21,089.66 $22,475.03
59 $3,864,370.57 $43,564.69 $20,975.23 $22,589.46
60 $3,841,781.11 $43,564.69 $20,860.09 $22,704.60
61 $3,819,076.50 $43,564.69 $20,744.23 $22,820.46
62 $3,796,256.04 $43,564.69 $20,627.64 $22,937.05
63 $3,773,318.99 $43,564.69 $20,510.33 $23,054.36
64 $3,750,264.63 $43,564.69 $20,392.28 $23,172.41
65 $3,727,092.21 $43,564.69 $20,273.49 $23,291.20
66 $3,703,801.01 $43,564.69 $20,153.96 $23,410.73
67 $3,680,390.29 $43,564.69 $20,033.69 $23,531.00
68 $3,656,859.28 $43,564.69 $19,912.66 $23,652.03
69 $3,633,207.25 $43,564.69 $19,790.88 $23,773.81
70 $3,609,433.44 $43,564.69 $19,668.33 $23,896.36
71 $3,585,537.08 $43,564.69 $19,545.02 $24,019.67
72 $3,561,517.41 $43,564.69 $19,420.94 $24,143.75
73 $3,537,373.66 $43,564.69 $19,296.09 $24,268.61
74 $3,513,105.06 $43,564.69 $19,170.45 $24,394.24
75 $3,488,710.81 $43,564.69 $19,044.03 $24,520.67
76 $3,464,190.15 $43,564.69 $18,916.81 $24,647.88
 77 $3,439,542.27 $43,564.69 $18,788.81 $24,775.89
78 $3,414,766.38 $43,564.69 $18,660.00 $24,904.69
79 $3,389,861.69 $43,564.69 $18,530.39 $25,034.31
80 $3,364,827.38 $43,564.69 $18,399.96 $25,164.73
81 $3,339,662.65 $43,564.69 $18,268.72 $25,295.97
82 $3,314,366.69 $43,564.69 $18,136.67 $25,428.03
83 $3,288,938.66 $43,564.69 $18,003.78 $25,560.91
84 $3,263,377.75 $43,564.69 $17,870.07 $25,694.62
85 $3,237,683.13 $43,564.69 $17,735.52 $25,829.17
86 $3,211,853.96 $43,564.69 $17,600.13 $25,964.56
87 $3,185,889.40 $43,564.69 $17,463.89 $26,100.80
88 $3,159,788.60 $43,564.69 $17,326.80 $26,237.89
89 $3,133,550.71 $43,564.69 $17,188.86 $26,375.83
90 $3,107,174.87 $43,564.69 $17,050.05 $26,514.64
91 $3,080,660.23 $43,564.69 $16,910.38 $26,654.32
92 $3,054,005.92 $43,564.69 $16,769.83 $26,794.86
93 $3,027,211.05 $43,564.69 $16,628.40 $26,936.29
94 $3,000,274.76 $43,564.69 $16,486.09 $27,078.60
95 $2,973,196.16 $43,564.69 $16,342.89 $27,221.80
96 $2,945,974.37 $43,564.69 $16,198.80 $27,365.89
97 $2,918,608.47 $43,564.69 $16,053.80 $27,510.89
98 $2,891,097.58 $43,564.69 $15,907.90 $27,656.79
99 $2,863,440.79 $43,564.69 $15,761.09 $27,803.60
100 $2,835,637.19 $43,564.69 $15,613.36 $27,951.33
101 $2,807,685.85 $43,564.69 $15,464.70 $28,099.99
102 $2,779,585.87 $43,564.69 $15,315.12 $28,249.57
103 $2,751,336.29 $43,564.69 $15,164.60 $28,400.09
104 $2,722,936.20 $43,564.69 $15,013.14 $28,551.55
105 $2,694,384.65 $43,564.69 $14,860.74 $28,703.95
106 $2,665,680.70 $43,564.69 $14,707.38 $28,857.31
107 $2,636,823.39 $43,564.69 $14,553.06 $29,011.63
108 $2,607,811.76 $43,564.69 $14,397.78 $29,166.91
109 $2,578,644.85 $43,564.69 $14,241.53 $29,323.16
110 $2,549,321.69 $43,564.69 $14,084.30 $29,480.39
111 $2,519,841.30 $43,564.69 $13,926.09 $29,638.60
112 $2,490,202.70 $43,564.69 $13,766.89 $29,797.80
113 $2,460,404.90 $43,564.69 $13,606.70 $29,957.99
114 $2,430,446.90 $43,564.69 $13,445.50 $30,119.19
115 $2,400,327.71 $43,564.69 $13,283.30 $30,281.39
116 $2,370,046.32 $43,564.69 $13,120.08 $30,444.61
117 $2,339,601.71 $43,564.69 $12,955.84 $30,608.85
118 $2,308,992.86 $43,564.69 $12,790.58 $30,774.11
119 $2,278,218.75 $43,564.69 $12,624.28 $30,940.41
120 $2,247,278.34 $43,564.69 $12,456.95 $31,107.74
121 $2,216,170.59 $43,564.69 $12,288.57 $31,276.13
122 $2,184,894.47 $43,564.69 $12,119.13 $31,445.56
123 $2,153,448.91 $43,564.69 $11,948.64 $31,616.05
124 $2,121,832.86 $43,564.69 $11,777.08 $31,787.61
125 $2,090,045.24 $43,564.69 $11,604.45 $31,960.24
126 $2,058,085.00 $43,564.69 $11,430.74 $32,133.95
127 $2,025,951.05 $43,564.69 $11,255.94 $32,308.75
128 $1,993,642.30 $43,564.69 $11,080.06 $32,484.64
129 $1,961,157.67 $43,564.69 $10,903.07 $32,661.62
130 $1,928,496.04 $43,564.69 $10,724.98 $32,839.72
131 $1,895,656.33 $43,564.69 $10,545.77 $33,018.92
132 $1,862,637.40 $43,564.69 $10,365.44 $33,199.25
133 $1,829,438.15 $43,564.69 $10,183.99 $33,380.70
134 $1,796,057.45 $43,564.69 $10,001.40 $33,563.29
135 $1,762,494.16 $43,564.69 $9,817.67 $33,747.02
136 $1,728,747.14 $43,564.69 $9,632.79 $33,931.90
137 $1,694,815.24 $43,564.69 $9,446.76 $34,117.93
138 $1,660,697.31 $43,564.69 $9,259.57 $34,305.13
139 $1,626,392.18 $43,564.69 $9,071.20 $34,493.49
140 $1,591,898.69 $43,564.69 $8,881.66 $34,683.03
141 $1,557,215.66 $43,564.69 $8,690.93 $34,873.76
142 $1,522,341.90 $43,564.69 $8,499.01 $35,065.68
143 $1,487,276.22 $43,564.69 $8,305.89 $35,258.80
144 $1,452,017.42 $43,564.69 $8,111.57 $35,453.12
145 $1,416,564.30 $43,564.69 $7,916.03 $35,648.67
146 $1,380,915.63 $43,564.69 $7,719.26 $35,845.43
147 $1,345,070.20 $43,564.69 $7,521.27 $36,043.42
148 $1,309,026.78 $43,564.69 $7,322.04 $36,242.65
149 $1,272,784.13 $43,564.69 $7,121.57 $36,443.12
150 $1,236,341.01 $43,564.69 $6,919.84 $36,644.85
151 $1,199,696.16 $43,564.69 $6,716.85 $36,847.84
152 $1,162,848.32 $43,564.69 $6,512.59 $37,052.10
153 $1,125,796.22 $43,564.69 $6,307.06 $37,257.63
154 $1,088,538.59 $43,564.69 $6,100.24 $37,464.45
155 $1,051,074.13 $43,564.69 $5,892.13 $37,672.56
156 $1,013,401.57 $43,564.69 $5,682.72 $37,881.97
157 $975,519.60 $43,564.69 $5,472.00 $38,092.69
158 $937,426.90 $43,564.69 $5,259.96 $38,304.73
159 $899,122.17 $43,564.69 $5,046.60 $38,518.10
160 $860,604.08 $43,564.69 $4,831.90 $38,732.79
161 $821,871.29 $43,564.69 $4,615.86 $38,948.83
162 $782,922.46 $43,564.69 $4,398.47 $39,166.22
163 $743,756.24 $43,564.69 $4,179.73 $39,384.97
164 $704,371.27 $43,564.69 $3,959.61 $39,605.08
165 $664,766.19 $43,564.69 $3,738.12 $39,826.57
166 $624,939.62 $43,564.69 $3,515.25 $40,049.44
167 $584,890.18 $43,564.69 $3,290.98 $40,273.71
168 $544,616.47 $43,564.69 $3,065.31 $40,499.38
169 $504,117.09 $43,564.69 $2,838.23 $40,726.46
170 $463,390.63 $43,564.69 $2,609.73 $40,954.96
171 $422,435.67 $43,564.69 $2,379.81 $41,184.89
172 $381,250.78 $43,564.69 $2,148.44 $41,416.25
173 $339,834.53 $43,564.69 $1,915.63 $41,649.06
174 $298,185.47 $43,564.69 $1,681.37 $41,883.32
175 $256,302.15 $43,564.69 $1,445.64 $42,119.05
176 $214,183.09 $43,564.69 $1,208.44 $42,356.26
177 $171,826.84 $43,564.69 $969.75 $42,594.94
178 $129,231.90 $43,564.69 $729.57 $42,835.12
179 $86,396.78 $43,564.69 $487.90 $43,076.80
180 $43,319.98 $43,564.69 $244.71 $43,319.98
$0.00
 cash and financed the balance. The loan terms require monthly payments for 15 years
chedule with the clear breakdown in term of interest payment and principal payment in
You have $50,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. • A. How many dollars in
years? • B. How many dollars per month can you withdraw for as long as you live and still leave this nest egg intact?

Inputs

Account Balance at the

beginning of year 1 50000.00
Interest 5.5% 12.00 0.46%
Annual Deposit
Annual Retirement
Withdrawal 312

Outputs
A.
PAYMENT SCHEDULE

KỲ (NĂM) SỐ DƯ ĐẦU KỲ TIỀN RÚT TIỀN LÃI TRONG

TRONG KỲ KỲ

Account Balance
WITHDRAWAL IN Interest earned during
Periods (YEAR) at the beginning of
THE CURRENCY the year
year

1 50000.00 312 229.17

2 49,459.23 312 226.69
3 48,920.94 312 224.22
4 48,385.12 312 221.77
5 47,851.75 312 219.32
6 47,320.83 312 216.89
7 46,792.34 312 214.46
8 46,266.27 312 212.05
9 45,742.61 312 209.65
10 45,221.36 312 207.26
11 44,702.49 312 204.89
12 44,186.00 312 202.52
13 43,671.88 312 200.16
14 43,160.11 312 197.82
15 42,650.70 312 195.48
16 42,143.61 312 193.16
17 41,638.85 312 190.84
18 41,136.40 312 188.54
19 40,636.26 312 186.25
20 40,138.41 312 183.97
21 39,642.84 312 181.70
22 39,149.54 312 179.44
23 38,658.50 312 177.18
24 38,169.71 312 174.94
25 37,683.17 312 172.71
26 37,198.85 312 170.49
27 36,716.75 312 168.29
28 36,236.86 312 166.09
29 35,759.18 312 163.90
30 35,283.68 312 161.72
31 34,810.36 312 159.55
32 34,339.21 312 157.39
33 33,870.22 312 155.24
34 33,403.38 312 153.10
35 32,938.68 312 150.97
36 32,476.10 312 148.85
37 32,015.65 312 146.74
38 31,557.31 312 144.64
39 31,101.07 312 142.55
40 30,646.92 312 140.47
41 30,194.86 312 138.39
42 29,744.86 312 136.33
43 29,296.93 312 134.28
44 28,851.05 312 132.23
45 28,407.21 312 130.20
46 27,965.41 312 128.17
47 27,525.63 312 126.16
48 27,087.87 312 124.15
49 26,652.11 312 122.16
50 26,218.36 312 120.17
51 25,786.59 312 118.19
52 25,356.80 312 116.22
53 24,928.97 312 114.26
54 24,503.11 312 112.31
55 24,079.21 312 110.36
56 23,657.24 312 108.43
57 23,237.21 312 106.50
58 22,819.10 312 104.59
59 22,402.91 312 102.68
60 21,988.63 312 100.78
61 21,576.25 312 98.89
62 21,165.75 312 97.01
63 20,757.14 312 95.14
64 20,350.40 312 93.27
65 19,945.53 312 91.42
66 19,542.51 312 89.57
67 19,141.34 312 87.73
68 18,742.00 312 85.90
69 18,344.50 312 84.08
70 17,948.82 312 82.27
71 17,554.95 312 80.46
72 17,162.89 312 78.66
73 16,772.62 312 76.87
74 16,384.14 312 75.09
 75 15,997.45 312 73.32
76 15,612.52 312 71.56
77 15,229.36 312 69.80
78 14,847.96 312 68.05
79 14,468.30 312 66.31
80 14,090.39 312 64.58
81 13,714.21 312 62.86
82 13,339.75 312 61.14
83 12,967.00 312 59.43
84 12,595.97 312 57.73
85 12,226.64 312 56.04
86 11,858.99 312 54.35
87 11,493.04 312 52.68
88 11,128.76 312 51.01
89 10,766.15 312 49.34
90 10,405.20 312 47.69
91 10,045.91 312 46.04
92 9,688.26 312 44.40
93 9,332.26 312 42.77
94 8,977.88 312 41.15
95 8,625.13 312 39.53
96 8,274.00 312 37.92
97 7,924.47 312 36.32
98 7,576.55 312 34.73
99 7,230.22 312 33.14
100 6,885.48 312 31.56
101 6,542.32 312 29.99
102 6,200.73 312 28.42
103 5,860.71 312 26.86
104 5,522.24 312 25.31
105 5,185.33 312 23.77
106 4,849.96 312 22.23
107 4,516.13 312 20.70
108 4,183.83 312 19.18
109 3,853.05 312 17.66
110 3,523.79 312 16.15
111 3,196.04 312 14.65
112 2,869.78 312 13.15
113 2,545.03 312 11.66
114 2,221.76 312 10.18
115 1,899.98 312 8.71
116 1,579.67 312 7.24
117 1,260.82 312 5.78
118 943.44 312 4.32
119 627.52 312 2.88
120 313.04 312 1.43
rterly. • A. How many dollars in withdrawals per month would reduce this nest egg to zero in 10
this nest egg intact?

SỐ DƯ CUỐI
KỲ

Total in Account
end year

49,459.23
48,920.94
48,385.12
47,851.75
47,320.83
46,792.34
46,266.27
45,742.61
45,221.36
44,702.49
44,186.00
43,671.88
43,160.11
42,650.70
42,143.61
41,638.85
41,136.40
40,636.26
40,138.41
39,642.84
39,149.54
38,658.50
38,169.71
37,683.17
37,198.85
36,716.75
36,236.86
35,759.18
35,283.68
34,810.36
34,339.21
33,870.22
33,403.38
32,938.68
32,476.10
32,015.65
31,557.31
31,101.07
30,646.92
30,194.86
29,744.86
29,296.93
28,851.05
28,407.21
27,965.41
27,525.63
27,087.87
26,652.11
26,218.36
25,786.59
25,356.80
24,928.97
24,503.11
24,079.21
23,657.24
23,237.21
22,819.10
22,402.91
21,988.63
21,576.25
21,165.75
20,757.14
20,350.40
19,945.53
19,542.51
19,141.34
18,742.00
18,344.50
17,948.82
17,554.95
17,162.89
16,772.62
16,384.14
15,997.45
15,612.52
15,229.36
14,847.96
14,468.30
14,090.39
13,714.21
13,339.75
12,967.00
12,595.97
12,226.64
11,858.99
11,493.04
11,128.76
10,766.15
10,405.20
10,045.91
9,688.26
9,332.26
8,977.88
8,625.13
8,274.00
7,924.47
7,576.55
7,230.22
6,885.48
6,542.32
6,200.73
5,860.71
5,522.24
5,185.33
4,849.96
4,516.13
4,183.83
3,853.05
3,523.79
3,196.04
2,869.78
2,545.03
2,221.76
1,899.98
1,579.67
1,260.82
943.44
627.52
313.04
0.00
Nadine is retiring at age 62 and expects to live to age 90. On the day she retires, she has $700,000 in her retirement savings a
years. Using Goal Seek, How much can she withdraw from her retirement savings each month if she plans to spend her last pe

Inputs

Account Balance at the

beginning of year 1 700,000.00
Interest 7% 12
nper 29 348
Annual Deposit

Annual Retirement
Withdrawal 613

Outputs

PAYMENT SCHEDULE

KỲ (NĂM) SỐ DƯ ĐẦU KỲ TIỀN RÚT TRONG KỲ

Account Balance
Periods (YEAR) at the beginning of year
WITHDRAWAL IN THE CURRENCY

1 700,000.00 613
2 695,303.51 613
3 690,634.41 613
4 685,992.55 613
5 681,377.76 613
6 676,789.90 613
7 672,228.79 613
8 667,694.30 613
9 663,186.25 613
10 658,704.51 613
11 654,248.90 613
12 649,819.29 613
13 645,415.52 613
14 641,037.43 613
15 636,684.89 613
16 632,357.73 613
17 628,055.81 613
18 623,778.99 613
19 619,527.12 613
20 615,300.05 613
21 611,097.64 613
22 606,919.74 613
23 602,766.22 613
24 598,636.92 613
25 594,531.71 613
26 590,450.45 613
27 586,392.99 613
28 582,359.21 613
29 578,348.95 613
30 574,362.09 613
31 570,398.48 613
32 566,457.99 613
33 562,540.49 613
34 558,645.85 613
35 554,773.92 613
36 550,924.58 613
37 547,097.69 613
38 543,293.12 613
39 539,510.75 613
40 535,750.45 613
41 532,012.07 613
42 528,295.51 613
43 524,600.62 613
44 520,927.29 613
45 517,275.39 613
46 513,644.79 613
47 510,035.37 613
48 506,447.00 613
49 502,879.56 613
50 499,332.94 613
51 495,807.00 613
52 492,301.63 613
53 488,816.71 613
54 485,352.12 613
55 481,907.74 613
56 478,483.45 613
57 475,079.14 613
58 471,694.68 613
59 468,329.97 613
60 464,984.88 613
61 461,659.31 613
62 458,353.13 613
63 455,066.25 613
64 451,798.53 613
65 448,549.88 613
66 445,320.18 613
67 442,109.31 613
68 438,917.18 613
69 435,743.67 613
70 432,588.67 613
71 429,452.08 613
72 426,333.78 613
73 423,233.67 613
74 420,151.65 613
 75 417,087.60 613
76 414,041.43 613
77 411,013.03 613
78 408,002.29 613
79 405,009.11 613
80 402,033.40 613
81 399,075.04 613
82 396,133.95 613
83 393,210.00 613
84 390,303.12 613
85 387,413.19 613
86 384,540.12 613
87 381,683.80 613
88 378,844.15 613
89 376,021.07 613
90 373,214.45 613
91 370,424.21 613
92 367,650.24 613
93 364,892.45 613
94 362,150.75 613
95 359,425.04 613
96 356,715.24 613
97 354,021.24 613
98 351,342.95 613
99 348,680.29 613
100 346,033.16 613
101 343,401.47 613
102 340,785.14 613
103 338,184.06 613
104 335,598.16 613
105 333,027.34 613
106 330,471.52 613
107 327,930.61 613
108 325,404.52 613
109 322,893.17 613
110 320,396.46 613
111 317,914.32 613
112 315,446.66 613
113 312,993.39 613
114 310,554.44 613
115 308,129.71 613
116 305,719.12 613
117 303,322.60 613
118 300,940.06 613
119 298,571.41 613
120 296,216.59 613
121 293,875.50 613
122 291,548.06 613
123 289,234.20 613
124 286,933.84 613
125 284,646.90 613
126 282,373.30 613
127 280,112.96 613
128 277,865.81 613
129 275,631.76 613
130 273,410.75 613
131 271,202.69 613
132 269,007.52 613
133 266,825.14 613
134 264,655.50 613
135 262,498.52 613
136 260,354.12 613
137 258,222.22 613
138 256,102.76 613
139 253,995.67 613
140 251,900.87 613
141 249,818.29 613
142 247,747.85 613
143 245,689.49 613
144 243,643.14 613
145 241,608.73 613
146 239,586.19 613
147 237,575.44 613
148 235,576.42 613
149 233,589.06 613
150 231,613.30 613
151 229,649.06 613
152 227,696.28 613
153 225,754.89 613
154 223,824.83 613
155 221,906.02 613
156 219,998.41 613
157 218,101.92 613
158 216,216.50 613
159 214,342.08 613
160 212,478.59 613
161 210,625.97 613
162 208,784.15 613
163 206,953.09 613
164 205,132.70 613
165 203,322.93 613
166 201,523.72 613
167 199,735.00 613
168 197,956.72 613
169 196,188.81 613
170 194,431.22 613
171 192,683.87 613
172 190,946.72 613
173 189,219.71 613
174 187,502.76 613
175 185,795.84 613
176 184,098.87 613
177 182,411.79 613
178 180,734.56 613
179 179,067.12 613
180 177,409.40 613
181 175,761.35 613
182 174,122.91 613
183 172,494.04 613
184 170,874.66 613
185 169,264.73 613
186 167,664.19 613
187 166,072.99 613
188 164,491.07 613
189 162,918.38 613
190 161,354.86 613
191 159,800.46 613
192 158,255.13 613
193 156,718.81 613
194 155,191.46 613
195 153,673.02 613
196 152,163.43 613
197 150,662.65 613
198 149,170.62 613
199 147,687.30 613
200 146,212.63 613
201 144,746.56 613
202 143,289.04 613
203 141,840.03 613
204 140,399.47 613
205 138,967.31 613
206 137,543.51 613
207 136,128.01 613
208 134,720.77 613
209 133,321.73 613
210 131,930.86 613
211 130,548.11 613
212 129,173.41 613
213 127,806.74 613
214 126,448.04 613
215 125,097.27 613
216 123,754.37 613
217 122,419.31 613
218 121,092.04 613
219 119,772.50 613
220 118,460.67 613
221 117,156.49 613
222 115,859.92 613
223 114,570.90 613
224 113,289.41 613
225 112,015.40 613
226 110,748.81 613
227 109,489.62 613
228 108,237.77 613
229 106,993.22 613
230 105,755.93 613
231 104,525.86 613
232 103,302.96 613
233 102,087.20 613
234 100,878.53 613
235 99,676.91 613
236 98,482.30 613
237 97,294.66 613
238 96,113.95 613
239 94,940.12 613
240 93,773.15 613
241 92,612.97 613
242 91,459.57 613
243 90,312.90 613
244 89,172.91 613
245 88,039.57 613
246 86,912.85 613
247 85,792.69 613
248 84,679.08 613
249 83,571.95 613
250 82,471.29 613
251 81,377.05 613
252 80,289.19 613
253 79,207.67 613
254 78,132.47 613
255 77,063.53 613
256 76,000.83 613
257 74,944.33 613
258 73,894.00 613
259 72,849.79 613
260 71,811.67 613
261 70,779.61 613
262 69,753.57 613
263 68,733.51 613
264 67,719.40 613
265 66,711.21 613
266 65,708.90 613
267 64,712.44 613
268 63,721.79 613
269 62,736.92 613
270 61,757.79 613
271 60,784.38 613
272 59,816.64 613
273 58,854.55 613
274 57,898.07 613
275 56,947.17 613
276 56,001.81 613
277 55,061.98 613
278 54,127.62 613
279 53,198.72 613
280 52,275.23 613
281 51,357.13 613
282 50,444.38 613
283 49,536.96 613
284 48,634.84 613
285 47,737.97 613
286 46,846.34 613
287 45,959.91 613
288 45,078.65 613
289 44,202.53 613
290 43,331.52 613
291 42,465.59 613
292 41,604.71 613
293 40,748.86 613
294 39,898.00 613
295 39,052.10 613
296 38,211.13 613
297 37,375.07 613
298 36,543.89 613
299 35,717.56 613
300 34,896.04 613
301 34,079.32 613
302 33,267.36 613
303 32,460.14 613
304 31,657.63 613
305 30,859.80 613
306 30,066.62 613
307 29,278.07 613
308 28,494.12 613
309 27,714.75 613
310 26,939.92 613
311 26,169.61 613
312 25,403.79 613
313 24,642.44 613
314 23,885.53 613
315 23,133.04 613
316 22,384.93 613
317 21,641.19 613
318 20,901.79 613
319 20,166.70 613
320 19,435.90 613
321 18,709.37 613
322 17,987.07 613
323 17,268.98 613
324 16,555.09 613
325 15,845.35 613
326 15,139.76 613
327 14,438.28 613
328 13,740.90 613
329 13,047.58 613
330 12,358.31 613
331 11,673.06 613
332 10,991.81 613
333 10,314.53 613
334 9,641.20 613
335 8,971.80 613
336 8,306.30 613
337 7,644.69 613
338 6,986.93 613
339 6,333.01 613
340 5,682.91 613
341 5,036.60 613
342 4,394.06 613
343 3,755.26 613
344 3,120.20 613
345 2,488.83 613
346 1,861.15 613
347 1,237.14 613
348 616.76 613
00,000 in her retirement savings account. She is somewhat conservative with her money and expects to earn 7 percent during her retireme
th if she plans to spend her last penny on the morning of her death?

0.58%

TIỀN LÃI TRONG KỲ SỐ DƯ CUỐI KỲ

Interest earned during the Total in Account end

year year

4,083.33 695,303.51
4,055.94 690,634.41
4,028.70 685,992.55
4,001.62 681,377.76
3,974.70 676,789.90
3,947.94 672,228.79
3,921.33 667,694.30
3,894.88 663,186.25
3,868.59 658,704.51
3,842.44 654,248.90
3,816.45 649,819.29
3,790.61 645,415.52
3,764.92 641,037.43
3,739.39 636,684.89
3,714.00 632,357.73
3,688.75 628,055.81
3,663.66 623,778.99
3,638.71 619,527.12
3,613.91 615,300.05
3,589.25 611,097.64
3,564.74 606,919.74
3,540.37 602,766.22
3,516.14 598,636.92
3,492.05 594,531.71
3,468.10 590,450.45
3,444.29 586,392.99
3,420.63 582,359.21
3,397.10 578,348.95
3,373.70 574,362.09
3,350.45 570,398.48
3,327.32 566,457.99
3,304.34 562,540.49
3,281.49 558,645.85
3,258.77 554,773.92
3,236.18 550,924.58
3,213.73 547,097.69
3,191.40 543,293.12
3,169.21 539,510.75
3,147.15 535,750.45
3,125.21 532,012.07
3,103.40 528,295.51
3,081.72 524,600.62
3,060.17 520,927.29
3,038.74 517,275.39
3,017.44 513,644.79
2,996.26 510,035.37
2,975.21 506,447.00
2,954.27 502,879.56
2,933.46 499,332.94
2,912.78 495,807.00
2,892.21 492,301.63
2,871.76 488,816.71
2,851.43 485,352.12
2,831.22 481,907.74
2,811.13 478,483.45
2,791.15 475,079.14
2,771.29 471,694.68
2,751.55 468,329.97
2,731.92 464,984.88
2,712.41 461,659.31
2,693.01 458,353.13
2,673.73 455,066.25
2,654.55 451,798.53
2,635.49 448,549.88
2,616.54 445,320.18
2,597.70 442,109.31
2,578.97 438,917.18
2,560.35 435,743.67
2,541.84 432,588.67
2,523.43 429,452.08
2,505.14 426,333.78
2,486.95 423,233.67
2,468.86 420,151.65
2,450.88 417,087.60
2,433.01 414,041.43
2,415.24 411,013.03
2,397.58 408,002.29
2,380.01 405,009.11
2,362.55 402,033.40
2,345.19 399,075.04
2,327.94 396,133.95
2,310.78 393,210.00
2,293.73 390,303.12
2,276.77 387,413.19
2,259.91 384,540.12
2,243.15 381,683.80
2,226.49 378,844.15
2,209.92 376,021.07
2,193.46 373,214.45
2,177.08 370,424.21
2,160.81 367,650.24
2,144.63 364,892.45
2,128.54 362,150.75
2,112.55 359,425.04
2,096.65 356,715.24
2,080.84 354,021.24
2,065.12 351,342.95
2,049.50 348,680.29
2,033.97 346,033.16
2,018.53 343,401.47
2,003.18 340,785.14
1,987.91 338,184.06
1,972.74 335,598.16
1,957.66 333,027.34
1,942.66 330,471.52
1,927.75 327,930.61
1,912.93 325,404.52
1,898.19 322,893.17
1,883.54 320,396.46
1,868.98 317,914.32
1,854.50 315,446.66
1,840.11 312,993.39
1,825.79 310,554.44
1,811.57 308,129.71
1,797.42 305,719.12
1,783.36 303,322.60
1,769.38 300,940.06
1,755.48 298,571.41
1,741.67 296,216.59
1,727.93 293,875.50
1,714.27 291,548.06
1,700.70 289,234.20
1,687.20 286,933.84
1,673.78 284,646.90
1,660.44 282,373.30
1,647.18 280,112.96
1,633.99 277,865.81
1,620.88 275,631.76
1,607.85 273,410.75
1,594.90 271,202.69
1,582.02 269,007.52
1,569.21 266,825.14
1,556.48 264,655.50
1,543.82 262,498.52
1,531.24 260,354.12
1,518.73 258,222.22
1,506.30 256,102.76
1,493.93 253,995.67
1,481.64 251,900.87
1,469.42 249,818.29
1,457.27 247,747.85
1,445.20 245,689.49
1,433.19 243,643.14
1,421.25 241,608.73
1,409.38 239,586.19
1,397.59 237,575.44
1,385.86 235,576.42
1,374.20 233,589.06
1,362.60 231,613.30
1,351.08 229,649.06
1,339.62 227,696.28
1,328.23 225,754.89
1,316.90 223,824.83
1,305.64 221,906.02
1,294.45 219,998.41
1,283.32 218,101.92
1,272.26 216,216.50
1,261.26 214,342.08
1,250.33 212,478.59
1,239.46 210,625.97
1,228.65 208,784.15
1,217.91 206,953.09
1,207.23 205,132.70
1,196.61 203,322.93
1,186.05 201,523.72
1,175.56 199,735.00
1,165.12 197,956.72
1,154.75 196,188.81
1,144.43 194,431.22
1,134.18 192,683.87
1,123.99 190,946.72
1,113.86 189,219.71
1,103.78 187,502.76
1,093.77 185,795.84
1,083.81 184,098.87
1,073.91 182,411.79
1,064.07 180,734.56
1,054.28 179,067.12
1,044.56 177,409.40
1,034.89 175,761.35
1,025.27 174,122.91
1,015.72 172,494.04
1,006.22 170,874.66
996.77 169,264.73
987.38 167,664.19
978.04 166,072.99
968.76 164,491.07
959.53 162,918.38
950.36 161,354.86
941.24 159,800.46
932.17 158,255.13
923.15 156,718.81
914.19 155,191.46
905.28 153,673.02
896.43 152,163.43
887.62 150,662.65
878.87 149,170.62
870.16 147,687.30
861.51 146,212.63
852.91 144,746.56
844.35 143,289.04
835.85 141,840.03
827.40 140,399.47
819.00 138,967.31
810.64 137,543.51
802.34 136,128.01
794.08 134,720.77
785.87 133,321.73
777.71 131,930.86
769.60 130,548.11
761.53 129,173.41
753.51 127,806.74
745.54 126,448.04
737.61 125,097.27
729.73 123,754.37
721.90 122,419.31
714.11 121,092.04
706.37 119,772.50
698.67 118,460.67
691.02 117,156.49
683.41 115,859.92
675.85 114,570.90
668.33 113,289.41
660.85 112,015.40
653.42 110,748.81
646.03 109,489.62
638.69 108,237.77
631.39 106,993.22
624.13 105,755.93
616.91 104,525.86
609.73 103,302.96
602.60 102,087.20
595.51 100,878.53
588.46 99,676.91
581.45 98,482.30
574.48 97,294.66
567.55 96,113.95
560.66 94,940.12
553.82 93,773.15
547.01 92,612.97
540.24 91,459.57
533.51 90,312.90
526.83 89,172.91
520.18 88,039.57
513.56 86,912.85
506.99 85,792.69
500.46 84,679.08
493.96 83,571.95
487.50 82,471.29
481.08 81,377.05
474.70 80,289.19
468.35 79,207.67
462.04 78,132.47
455.77 77,063.53
449.54 76,000.83
443.34 74,944.33
437.18 73,894.00
431.05 72,849.79
424.96 71,811.67
418.90 70,779.61
412.88 69,753.57
406.90 68,733.51
400.95 67,719.40
395.03 66,711.21
389.15 65,708.90
383.30 64,712.44
377.49 63,721.79
371.71 62,736.92
365.97 61,757.79
360.25 60,784.38
354.58 59,816.64
348.93 58,854.55
343.32 57,898.07
337.74 56,947.17
332.19 56,001.81
326.68 55,061.98
321.19 54,127.62
315.74 53,198.72
310.33 52,275.23
304.94 51,357.13
299.58 50,444.38
294.26 49,536.96
288.97 48,634.84
283.70 47,737.97
278.47 46,846.34
273.27 45,959.91
268.10 45,078.65
262.96 44,202.53
257.85 43,331.52
252.77 42,465.59
247.72 41,604.71
242.69 40,748.86
237.70 39,898.00
232.74 39,052.10
227.80 38,211.13
222.90 37,375.07
218.02 36,543.89
213.17 35,717.56
208.35 34,896.04
203.56 34,079.32
198.80 33,267.36
194.06 32,460.14
189.35 31,657.63
184.67 30,859.80
180.02 30,066.62
175.39 29,278.07
170.79 28,494.12
166.22 27,714.75
161.67 26,939.92
157.15 26,169.61
152.66 25,403.79
148.19 24,642.44
143.75 23,885.53
139.33 23,133.04
134.94 22,384.93
130.58 21,641.19
126.24 20,901.79
121.93 20,166.70
117.64 19,435.90
113.38 18,709.37
109.14 17,987.07
104.92 17,268.98
100.74 16,555.09
96.57 15,845.35
92.43 15,139.76
88.32 14,438.28
84.22 13,740.90
80.16 13,047.58
76.11 12,358.31
72.09 11,673.06
68.09 10,991.81
64.12 10,314.53
60.17 9,641.20
56.24 8,971.80
52.34 8,306.30
48.45 7,644.69
44.59 6,986.93
40.76 6,333.01
36.94 5,682.91
33.15 5,036.60
29.38 4,394.06
25.63 3,755.26
21.91 3,120.20
18.20 2,488.83
14.52 1,861.15
10.86 1,237.14
7.22 616.76
3.60 0.00
7 percent during her retirement