Elin wants to retire in 20 years when she turns 60. elin wants to have enough money to replace 120% of her current income less what she expects to receive from social security. she expects to receive $20,000 per year from social security in today's dollars. elin is conservative and wants to assume a 6% annual investment rate of return and assumes that inflation will be 3% per year. based on her family history, elin expects that she will live to be 95 years old. if elin currently earns $100,000 per year and expects her raises to equal the inflation rate, approximately how much does she need at retirement to fulfill her retirement goals?

$3,880,831. $3,930,814. $3,997,256 $4,045,303.

Fanning company is considering the addition of a new product to its cosmetics line. the company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. relevant information and budgeted annual income statements for each of the products follow. skin cream bath oil color gel budgeted sales in units (a) 110,000 190,000 70,000 expected sales price (b) $8 $4 $11 variable costs per unit (c) $2 $2 $7 income statements sales revenue (a × b) $880,000 $760,000 $770,000 variable costs (a × c) (220,000) (380,000) (490,000) contribution margin 660,000 380,000 280,000 fixed costs (432,000) (240,000) (76,000) net income $228,000 $140,000 $204,000 required: (a) determine the margin of safety as a percentage for each product. (b) prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. (c) for each product, determine the percentage change in net income that results from the 20 percent increase in sales. (d) assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? (e) assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line?

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The de mesa family will soon be occupying their newly renovated house. however, the bathroom measuring 10ft. by 16 ft. still needs to be covered by tiles. if the tile that they desire measures 2/5 ft by 2/5 ft., how many tiles will they need to cover the bathroom floor?