If you are 20 years old and invested $2,500 into an account that earned 6% per...
If you are 20 years old and invested $2,500 into an account that earned 6% per year, how much would the account be worth when you were 65?
Homework Answers
Add Answer to:
If you are 20 years old and invested $2,500 into an account that
earned 6% per...
When Matt turned 25 he invested $2,500 in his retirement account for 10 years and stops....
When Matt turned 25 he invested $2,500 in his retirement account for 10 years and stops. He earns an 8% return. Clay invests $2,500 from age 36-65 (30 years) and stops. He earns the same 8% return. How much money will each of then have at age 65? Who has more money and by how much?
How much interest is earned in an account by the end of 5 years if $30,000...
How much interest is earned in an account by the end of 5 years if $30,000 is deposited and interest is 4% per year, compounded semi-annually? What is the balance in an account at the end of 10 years if $6,500 is deposited today and the account earns 3% interest compounded annually? If you wish to accumulate $50,000 in 10 years, how much must you deposit today in an account that pays annual interest rate of 8%, with semi-annual compounding...
if you invested $4200 into an account that pays 14.0% annual interest, how much would be...
if you invested $4200 into an account that pays 14.0% annual interest, how much would be in the account after 20 years? 1, How much must be invested into an account paying 6.5% annual interest to have $15,000 in the account after 4 years? 2, 3. What interest rate is required for a principal to triple in 15 years? 4, $10,000 is invested into an account paying 6% annual interest. How long will it take the $10,000 5. If $1000...
uppose you earned a $720,000 bonus this year and invested it at 8.25% per year. How...
uppose you earned a $720,000 bonus this year and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years? Select the correct answer. a. $74,708.25 b. $74,713.35 c. $74,703.15 d. $74,723.55 e. $74,718.45
Suppose you earned a $335,000 bonus this year and invested it at 8.25% per year. How...
Suppose you earned a $335,000 bonus this year and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years? Select the correct answer. a. $34,746.72 b. $34,741.22 c. $34,752.22 d. $34,757.72 e. $34,735.72
2. How much interest is earned in an account by the end of 8 years...
2. How much interest is earned in an account by the end of 8 years if $24,000 is deposited at the beginning of year 1 and interest is 4.4% per year, compounded semi-annually? 3. If you wish to accumulate $53,000 in 7 years, how much must you deposit today in an account that pays annual interest rate of 8%, with quarterly compounding of interest? 4. If you deposit $9,000 at the end of each year for 9...
1) You are 50 years old and proud of having $75,000 invested in a mutual fund...
1) You are 50 years old and proud of having $75,000 invested in a mutual fund earning an impressive 17% per year. You want to retire when you are 65 years old and are confident you'll reach your goal of $1,000,000 by then. Will you make it? If not, what yield would see that you do? 2) Jack and Jill want to retire when they accumulate $1,500,000 in their individual retirement funds. They figure that they can just live off...
Your grandmother invested $2,300 for you on the day you were born. This investment has earned...
Your grandmother invested $2,300 for you on the day you were born. This investment has earned an average of 13.8 percent annually. How old are you if the investment is now worth $18,642? O 14.36 years 14.58 years 15.15 years 16.19 years You just inherited $7100 which you are investing at 7.25 percent interest. How long will you have to wait un your account reaches a value of $12,000 O 6.96 years O 8.34 years O 7.50 years O 8.55...
6. What will $150,000 grow to be in 15 years if it is invested in an account...
6. What will $150,000 grow to be in 15 years if it is invested in an account with a quoted annual interest rate of 10% with monthly compounding of interest? 7. How many years will it take for $200,000 to grow to be $600,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest? 8. At what quoted annual interest rate must $135,000 be invested so that it will grow to be $460,000...
You deposit $2,500 into an account that earns 3% per year. How much will you have...
You deposit $2,500 into an account that earns 3% per year. How much will you have in your account in 10 years? $3,903.05 $4,567.93 O $3,359.79 O $2,575.00
if you invested $4200 into an account that pays 14.0% annual interest, how much would be in the account after 20 years? 1, How much must be invested into an account paying 6.5% annual interest to have $15,000 in the account after 4 years? 2, 3. What interest rate is required for a principal to triple in 15 years? 4, $10,000 is invested into an account paying 6% annual interest. How long will it take the $10,000 5. If $1000...
1) You are 50 years old and proud of having $75,000 invested in a mutual fund earning an impressive 17% per year. You want to retire when you are 65 years old and are confident you'll reach your goal of $1,000,000 by then. Will you make it? If not, what yield would see that you do? 2) Jack and Jill want to retire when they accumulate $1,500,000 in their individual retirement funds. They figure that they can just live off...
Your grandmother invested $2,300 for you on the day you were born. This investment has earned an average of 13.8 percent annually. How old are you if the investment is now worth $18,642? O 14.36 years 14.58 years 15.15 years 16.19 years You just inherited $7100 which you are investing at 7.25 percent interest. How long will you have to wait un your account reaches a value of $12,000 O 6.96 years O 8.34 years O 7.50 years O 8.55...
You deposit $2,500 into an account that earns 3% per year. How much will you have in your account in 10 years? $3,903.05 $4,567.93 O $3,359.79 O $2,575.00
Most questions answered within 3 hours.
-
Home Corporation will open a new store on January 1. Based on
experience from its other...
asked 7 minutes ago -
In a neoclassical model, use the IS-LM to analyze the effect of
a permanent money supply...
asked 42 minutes ago -
An electron passes through a point 2.67 cm from a long straight
wire as it moves...
asked 1 hour ago -
A grammar is a 4-tuple G, G = (Ν, Σ, Π, Σ, S) where, Ν is...
asked 2 hours ago -
In this part, calculate the present values. Use the Excel PV
function to compute the present...
asked 2 hours ago -
Part 1. Primitive Types, Sorting, Recursion for
Homework.java
a) Implement the static method initializeArray that receives...
asked 3 hours ago -
Using C++, build a sorter that can rank a sequence of numbers in
a descending order....
asked 3 hours ago -
Derive ground state term symbols. Use notation 2S(1/2) for state
2S1/2
a) d5
b) f3
c)...
asked 3 hours ago -
A sample of size 31 will be drawn from a population with mean 39
and standard...
asked 4 hours ago -
What is the effect on the P-value when a test is changed from a
two-tailed hypothesis...
asked 4 hours ago -
I wish to estimate µ, the mean of a population. After I collect
and an-
alyze...
asked 4 hours ago -
At a local university, you poll a group of 115 students and find
that 37 of...
asked 4 hours ago