becky is 25. she has no money saved. she will deposit $4000 into an investment account...
becky is 25. she has no money saved. she will deposit $4000 into an investment account annually for 40 years. first deposit will be at 26 (t=1) and last at 65(t=40). she will retire after 65th b-day. she will earn 9% return annually. how much will she have at 65?
Homework Answers
The formula to calculate future value is:
the amount at age of 65 is $1,351,529.78.
Add Answer to:
becky is 25. she has no money saved. she will deposit $4000 into
an investment account...
A young couple, both 25 years old, are planning to retire in 40 years at the...
A young couple, both 25 years old, are planning to retire in 40 years at the age of 65. After they retire, they expect to live for an additional 20 years, until age 85. They plan to begin saving for retirement today and based on information from their financial planner, they think they will earn 8% on their investment compounded annually. They think they will earn 5% on their retirement savings after they retire. If they begin at age 25...
1. Your grandmother has invested $4000 in a mutual fund each year on your birthday (she...
1. Your grandmother has invested $4000 in a mutual fund each year on your birthday (she made her first payment when you turned 1 year old). The mutual fund has grown at an annual interest rate of 6.8%. How much is your account worth on the day of your 21st birthday immediately after your grandmother’s deposit? answer: 2. You set up a college fund in which you pay $4000 each year at the beginning of the year. How much money...
Quantitative Problem 1: You plan to deposit $2,500 per year for 5 years into a money market account with an annual retur...
Quantitative Problem 1: You plan to deposit $2,500 per year for 5 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. Do not round intermediate calculations. Round your answers to the nearest cent. What amount will be in your account at the end of 5 years? $ Assume that your deposits will begin today. What amount will be in your account after 5 years? $ Quantitative...
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)...
You are planning for your pension plan that you will start to invest money, deposit first...
You are planning for your pension plan that you will start to
invest money, deposit first saving a year from today, deposit last
at 20, and get retired after 20 years. You desire to take an
immediate trip, costing approximately 15000 TL.(t=20) when you
retire, and expect to live 25 more years, for which you need
12000TL each year, starting from one year from retirement. Your
savings will be equal and on annual basis. Savings will earn 10%
annually. a)...
Cecelia Thomas is a sales executive at a Baltimore firm. She is 25 years old and...
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
Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has...
Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she will need to have $3,000,000 in her retirement savings account in order to live comfortably. Mary currently has no retirement savings, and her investments will earn 5% annually. How much must she deposit into her account at the end of each of the next 40 years to meet her retirement savings goal? Your Answer:
Saved Help Save & Exit Submit Your sister just deposited $8,000 into an investment account. She...
Saved Help Save & Exit Submit Your sister just deposited $8,000 into an investment account. She believes that she will earn an annual return of 9.3 percent for the next 10 years. You believe that you will only be able to earn an annual return of 8.6 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 10 years?
It is your 25th birthday (end of 25 years) and you decide that you want to...
It is your 25th birthday (end of 25 years) and you decide that you want to retire on your 65th birthday (end of 65 years - 40 years later). Your salary is $55,000 per year and you expect your salary to increase by 3% each year for the next 40 years. When you retire, you want your retirement fund to provide an annual payment equal to 80% of your salary at age 65 and to increase by 2% a year...
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)...
You are planning for your pension plan that you will start to
invest money, deposit first saving a year from today, deposit last
at 20, and get retired after 20 years. You desire to take an
immediate trip, costing approximately 15000 TL.(t=20) when you
retire, and expect to live 25 more years, for which you need
12000TL each year, starting from one year from retirement. Your
savings will be equal and on annual basis. Savings will earn 10%
annually. a)...
Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she will need to have $3,000,000 in her retirement savings account in order to live comfortably. Mary currently has no retirement savings, and her investments will earn 5% annually. How much must she deposit into her account at the end of each of the next 40 years to meet her retirement savings goal? Your Answer:
Saved Help Save & Exit Submit Your sister just deposited $8,000 into an investment account. She believes that she will earn an annual return of 9.3 percent for the next 10 years. You believe that you will only be able to earn an annual return of 8.6 percent over the same period. How much more must you deposit today in order to have the same amount as your sister in 10 years?
Most questions answered within 3 hours.
-
You found out that now you are going to receive payments of
$8,500 for the next...
asked 10 minutes ago -
Quick question, I want to know how to convert decimal numbers to
binary number, when i...
asked 6 minutes ago -
17.
Technician A says that leaking components are usually repaired
rather than replaced. Technician B says...
asked 10 minutes ago -
A) An Operon is:?
1- A gene that affect another gene
transcription.
2. A gene coding...
asked 17 minutes ago -
When opening a file, use this method to determine whether a file
exists before you attempt...
asked 21 minutes ago -
Sales total $300,000 when variable costs total $180,000 and
fixed costs are $60,000. Breakeven sales total:...
asked 28 minutes ago -
1)
To calculate the depth of a water well, an explorer drops a stone and with...
asked 26 minutes ago -
0.429-g sample of gas occupies 125 mL at 60. cm of Hg and 25°C.
The molar...
asked 27 minutes ago -
The
pH of a 0.90M solution of boric acid (H3BO3) is measured to be
4.64.
Calculate...
asked 47 minutes ago -
on april 10, a company acquired land valued at $58,000 in
exchange for 1,000 shares of...
asked 52 minutes ago -
Is
ampicillin or solvents (such as acetone) more effective at killing
off bacteria, in general? Explain...
asked 57 minutes ago -
The current risk-free rate is 4.0% and the market risk premium
is 5.0%. If Ford Motor...
asked 1 hour ago