Question 13 (1 point) Jane Roberts has $40,000 in a brokerage account, and she plans to...

Question

Question

Answer 1

Answer #1

Answer: Option-(a): $1,916,378.24 Workings: Periodic Interest rate, RATE # of periods of deposit, NPER Periodic deposit amoun

Answer 2

Similar Homework Help Questions

Jane plans to buy a house in 10 years. The house she dreams about costs about...

Jane plans to buy a house in 10 years. The house she dreams about costs about $150,000 today. The cost of houses increases at 2.5% per year. How much will the house cost in ten years? Jane currently has $75,000 that she can invest to earn 3% interest over the next ten years. How much will Jane accumulate from her investment of 75,000 Dollars in ten Years? How much additional money would Jane need in ten years? In effect, how...
8. Patricia Rodríguez has just deposited $ 40,000 of an inheritance in an account that pays...

8. Patricia Rodríguez has just deposited $ 40,000 of an inheritance in an account that pays the 6 percent interest computed monthly. She plans to contribute an additional $ 5,000 within one year and another $ 10,000 within two years. How much will Patricia have in the account in four years?
Jane Smart plans to make the following deposits in an account towards cash purchase of a...

Jane Smart plans to make the following deposits in an account towards cash purchase of a real estate property. $17,000 $17,000 $22,000 $22.000 $27,000 $27,000 Deposit Deposit $7,000 $7,000 $12,000 $12,000 (a) How much money will the account have immediately after the last deposit if the account earns an interest rate of 9% per year? (b) What is the equivalent uniform annual deposit? (a) The amount in the account after the last deposit is $ (to the nearest dollar). (b)...

Francine currently has $25,000 in her 401k account at work, and plans to contribute $300 at...

Francine currently has $25,000 in her 401k account at work, and plans to contribute $300 at the end of each month for the next 10 years. How much will she have in the account in 10 years, if the account averages a 4% annual return? Assume monthly compounding. Asnwer = $ (Round to the nearest cent/penny)
Bertina plans to retire in 4 years. She plans to collect annual payments of $53,800 for...

Bertina plans to retire in 4 years. She plans to collect annual payments of $53,800 for several years. Her first annual payment is expected to be received in 5 years and her last annual payment is expected in 11 years. She can earn 10.23 percent per year. How much money does Bertina expect to have in 4 years?
Today is Janet’s 23rd birthday. Starting today, Janet plans to begin saving for her retirement. Her...

Today is Janet’s 23rd birthday. Starting today, Janet plans to begin saving for her retirement. Her plan is to contribute $4,000 to a brokerage account each year on her birthday. Her first contribution will take place today. Her 42nd and final contribution will take place on her 64th birthday. Her aunt has decided to help Janet with her savings, which is why she gave Janet $20,000 today as a birthday present to help get her account started. Assume that the...

if XYZ invests 3,100 today and 3,100 in 1 year in an account that has an...

if XYZ invests 3,100 today and 3,100 in 1 year in an account that has an expected annual return of 16.8 percent, compounded quarterly, then how much money will she have in her account in 3 years?
Today is Janet’s 23rd birthday. Starting today, Janet plans to begin saving for her retirement. Her...

Today is Janet’s 23rd birthday. Starting today, Janet plans to begin saving for her retirement. Her plan is to contribute $ 3 ,000 to a brokerage account each year on her birthday. Her first contribution will take place today. Her 42nd and final contribution will take place on her 64th birthday. Her aunt has decided to help Janet with her savings, which is why she gave Janet $ 2 0,000 today as a birthday present to help get her account...
Lindsay is 28 years old and has a new job in web development. She wants to...

Lindsay is 28 years old and has a new job in web development. She wants to make sure that she is financially sound by the age of 55, so she plans to invest the same amount into a retirement account at the end of every year for the next 27 years. Develop a two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. From the...

1. You are current saving for your son's college expenses (tuition, room/board). She is 10 years...

1. You are current saving for your son's college expenses (tuition, room/board). She is 10 years old and will begin college in 8 years. Set aside for her education you have a brokerage account with $10,000 fully invested in an equity index fund that is expected to earn 10% per year. Your plan is to send your son to a public school where the expenses are currently (at T = 0) $18,000 per year, however you expect the expenses to...