ou want to be a millionaire when you retire in 40 years.
How much do you have to save each month if you can earn an annual return of 11.3 percent? (Do not
round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
How much do
Your Last Name, First Initial
Problem One: (10 Points)
Herder, Inc. acquired an offroader on January 1, 2009, for $42,000. The machine is estimated to have a
five-year life, with a residual value of $6,000. Herder, In