P = annual payments = 4400
n = number of payments = 40
interest rate = r = 10.10% = 0.1010
We need to calculate the amount accumulated after 40 years, i.e. Future Value (FV) of the investment
Hence, FV = P(1+r)n + P(1+r)n-1 +....+ P(1+r) = P [((1 + r)n - 1) / r])(1 + r) = 4400 [(1.101040 - 1)/0.1010](1.1010)
=> FV = $2,203,221.65
Problem G.11 Maria Miller is a sales executive at a Baltimore tirm. She is 25 years...
Sandra Robinson is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $2,800 each year in an IRA account until she is 65 at which time she will retire (a total of 40 payments). If Sandra invests at the beginning of each year, and the IRA investment will earn 11.75 percent annually, how much will she have when she retires? Assume that she makes the first payment today. (Round factor values to 4...
Dorothy Taylor is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $3,700 each year in an IRA account until she is 65 at which time she will retire (a total of 40 payments). If Dorothy invests at the beginning of each year, and the IRA investment will earn 9.35 percent annually, how much will she have when she retires? Assume that she makes the first payment today. (Round factor values to 4...
Problem 6.10 Jennifer Davis is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $2,300 every year in an IRA account, beginning at the end of this year until she reaches the age of 65. If the IRA investment will earn 11.10 percent annually, how much will she have in 40 years, when she turns 65? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g....
Margaret Moore is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $3,900 every year in an IRA account, beginning at the end of this year until she reaches the age of 65. If the IRA investment will earn 11.35 percent annually, how much will she have in 40 years, when she turns 65? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g. 15.25.)
Barbara Jones is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $4,100 every year in an IRA account, beginning at the end of this year until she reaches the age of 65. If the IRA investment will earn 11.90 percent annually, how much will she have in 40 years, when she turns 65? (Round factor values to 4 decimal places, e.g. 1.5212 and final answer to 2 decimal places, e.g. 15.25.)
PRINTER VERSION BACK NEXT Problem 6.11 Patricia Johnson is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $3,400 each year in an IRA account until she is 65 at which time she will retire (a total of 40 payments). If Patricia invests at the beginning of each year, and the IRA investment will earn 9.45 percent annually, how much will she have when she retires? Assume that she makes the first payment...
Cecelia Thomas is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $3,600 each year in an IRA account until she is 65 at which time she will retire (a total of 40 payments). If Helen invests at the beginning of each year, and the IRA investment will earn 9.45 percent annually, how much will she have when she retires? Assume that she makes the first payment today
Tunuamentals of Corporate Finance, 4e Hele 1 System Announcements Grace Period 3 days left | Register PRINTER VERSION BACK Problem 6.11 Kimberly Young is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $2,100 each year an IRA account until she is 65 at which time she will retire (a total of 40 payments). If Kimberly invests at the beginning of each year, and the IRA investment will earn 11.95 percent annually, how...
Parrino, Fundamentals of Corporate Finance, 4e Help 1 System Announcements Grace Criod: 3 days left | Register B PRINTER VERSION NEXT Problem 6.10 Debra King is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $3,100 every year in an IRA account, beginning at the end of this year until she reaches the age of 65. If the IRA investment will earn 10.30 percent annually, how much will she have in 40 years,...
please answer all questions and Thank you ! 1. Susan Wilson is a sales executive at a Baltimore firm. She is 25 years old and plans to invest $3,800 every year in an IRA account, beginning at the end of this year until she reaches the age of 65. If the IRA investment will earn 8.45percent annually, how much will she have in 40 years, when she turns 65? (Round answer to 2 decimal places) 2. Donna Clark is a...