Calculate the first and second year annual payment that you could withdraw for a "growing annuity" using the following assumptions: interest rate = 9% inflation rate = 3% remaining life expectancy = 29 years amount invested at retirement date = $1,300,000 first withdrawal taken at the end of the year hint real rate: ((1 + interest rate) divided by (1 + inflation rate)) - 1. round real rate to two decimal places.

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)