The area of a parking lot is 600 square meters. A car requires 6 square meters. A bus requires 30 square meters. The attendant can handle only 60 vehicles. If a car is charged $2.50 and a bus $7.50, how many of each should be accepted to maximize income?
Answer: 50 cars, 10 buses
What has been considered a "safe withdrawal" rate rule of thumb for a balanced retirement portfolio?
4% has been a standard recommendation for a retirement portfolio withdrawal rate. This suggests that a $1 million dollar portfolio provides $40,000 of income per year. I would caution against blindly following this rule.
What is the future value of an initial $1000 investment in 5 years, compounded annually at a rate of 10%?
The future value of your investment is $1,610.51.