![years? 2. Suppose Miss Roxanne Davenport is 25 years old right now and puts away $1,800 per quarter in an account that returns 6% interest. a. 3 pts] How much will be in the account when she turns 65? b. [1 pt What is her total contribution to the account? c. [1 pts How much interest did she earn?](http://img.homeworklib.com/questions/125e7d30-7354-11ea-a71f-15a659ec35a9.png?x-oss-process=image/resize,w_560)
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years? 2. Suppose Miss Roxanne Davenport is 25 years old right now and puts away $1,800...
1. Meagan invests $1,200 each year in an IRA for 12 years in an account that...
1. Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded annually. At the end of 12 years, she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years. a. [3 pts] What was the value of the IRA at the end of 12 years? b. [2 pt] What was the value of the investment at the end of the...
1. Meagan invests $1,200 each year in an IRA for 12 years in an account that...
1. Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded annually. At the end of 12 years, she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years. a. [3 pts] What was the value of the IRA at the end of 12 years? Formula 1 Work* 1.5 I Answef 0.5 b. [2 pts] What was the value of...
1. Hector's parents anticipate needing $80,000 when he is 18 for his college education. a. [4...
1. Hector's parents anticipate needing $80,000 when he is 18 for his college education. a. [4 pts]If he is 5 years old now, how much should they invest in an investment plan that pays 6.23% compounded quarterly? b. [2 pts]Hector ended up getting a full scholarship. His parents agreed to let him draw the interest off the investment account each quarter (3 months) for expenses. How much will Hector receive each quarter? 2. Meagan invests $1,200 each year in an...
4. John is 25 years old right now. He needs $650,000 at age of 65 to...
4. John is 25 years old right now. He needs $650,000 at age of 65 to retire comfortably. If his mutual fund account can generate an average annual rate of return of 7%, how much money he needs to put in right now? 5. Bank Certificate of Deposit (CD) gives you 3% interests, how much money will you have in 20 years when you deposit $7500 today? 6. John deposits $1000 into company Raw IRA each month (another type of...
Simone is now 50 years old and plan to retire at age 67 (in 17 years)....
Simone is now 50 years old and plan to retire at age 67 (in 17 years). She currently has a share portfolio worth $750,000, a superannuation fund worth $1,200,000, and a money market (similar to cash) account worth $500,000. Her share portfolio is expected to provide annual returns of 12% p.a. (compounded annually), her superannuation will earn her 9% p.a. (compounded annually), and the money market account earns 1.2% p.a. (compounded monthly). Assume all these returns are aftertax. Assume Simone’s...
An S&L pays 5% per annum compounded quarterly. Bert and Bertha are now 50 years old....
An S&L pays 5% per annum compounded quarterly. Bert and Bertha are now 50 years old. They will deposit $200 per quarter at the end of each quarter until they are 65 years old. How much is in their retirement account at the end of this period i.e. at 65? 3 months after their last deposit they start withdrawing equal amounts each quarter until they are 80 i.e. for the next 15 years Find the size of the withdrawals. How...
Funding your retirement Emily Jacob is 45 years old and has saved nothing for retirement. Fortunately,...
Funding your retirement Emily Jacob is 45 years old and has saved nothing for retirement. Fortunately, she just inherited S75,000. Emily plans to put a large portion of that money into an investment account earning a(n) 11% return. She will let the money accumulate for 20 years, when she will be ready to retire. She would like to deposit enough money today so she could begin making withdrawals of $50,000 per year starting at age 66 (21 years from now)...
Funding your retirement Emily Jacob is 45 years old and has saved nothing for retirement. Fortunately,...
Funding your retirement Emily Jacob is 45 years old and has saved nothing for retirement. Fortunately, she just inherited S75,000. Emily plans to put a large portion of that money into an investment account earning a(n) 11% return. She will let the money accumulate for 20 years, when she will be ready to retire. She would like to deposit enough money today so she could begin making withdrawals of S50,000 per year starting at age 66 (21 years from now)...
An individual is currently 30 years old and she is planning her financial needs upon retirement. She will retire at age...
An individual is currently 30 years old and she is planning her financial needs upon retirement. She will retire at age 65 (exactly 35 years from now) and she plans on funding 20 years of retirement with her investments. Ignore any social security payments and ignore any taxes. She made $106,000 last year and she estimates she will need 75% of her current income in today's dollars to live on when she retires. She believes that inflation will average 3...
An individual is currently 30 years old and she is planning her financial needs upon retirement....
An individual is currently 30 years old and she is planning her financial needs upon retirement. She will retire at age 65 (exactly 35 years from now) and she plans on funding 20 years of retirement with her investments. Ignore any social security payments and ignore any taxes. She made $131,000 last year and she estimates she will need 75% of her current income in today's dollars to live on when she retires. She believes that inflation will average 3...
1. Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded annually. At the end of 12 years, she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years. a. [3 pts] What was the value of the IRA at the end of 12 years? b. [2 pt] What was the value of the investment at the end of the...
1. Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded annually. At the end of 12 years, she stopped making payments to the account, but continued to invest her accumulated amount at 5% compounded annually for the next 11 years. a. [3 pts] What was the value of the IRA at the end of 12 years? Formula 1 Work* 1.5 I Answef 0.5 b. [2 pts] What was the value of...
1. Hector's parents anticipate needing $80,000 when he is 18 for his college education. a. [4 pts]If he is 5 years old now, how much should they invest in an investment plan that pays 6.23% compounded quarterly? b. [2 pts]Hector ended up getting a full scholarship. His parents agreed to let him draw the interest off the investment account each quarter (3 months) for expenses. How much will Hector receive each quarter? 2. Meagan invests $1,200 each year in an...
4. John is 25 years old right now. He needs $650,000 at age of 65 to retire comfortably. If his mutual fund account can generate an average annual rate of return of 7%, how much money he needs to put in right now? 5. Bank Certificate of Deposit (CD) gives you 3% interests, how much money will you have in 20 years when you deposit $7500 today? 6. John deposits $1000 into company Raw IRA each month (another type of...
Funding your retirement Emily Jacob is 45 years old and has saved nothing for retirement. Fortunately, she just inherited S75,000. Emily plans to put a large portion of that money into an investment account earning a(n) 11% return. She will let the money accumulate for 20 years, when she will be ready to retire. She would like to deposit enough money today so she could begin making withdrawals of $50,000 per year starting at age 66 (21 years from now)...
Funding your retirement Emily Jacob is 45 years old and has saved nothing for retirement. Fortunately, she just inherited S75,000. Emily plans to put a large portion of that money into an investment account earning a(n) 11% return. She will let the money accumulate for 20 years, when she will be ready to retire. She would like to deposit enough money today so she could begin making withdrawals of S50,000 per year starting at age 66 (21 years from now)...
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