How long will $500,000, in an investment account that earns 3.25% compounded monthly, sustain month-end withdrawals of $3000? (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.)
How long will $500,000, in an investment account that earns 3.25% compounded monthly, sustain month-end withdrawals...
please help Sophia invested $13,480 into an account that earns 3.34% interest compounded monthly. How long will it take (in years and days) to accumulate to $19,750. Round up the value of N to the next higher whole number (e.g. N = 5.31 rounds up to N = 6), similarly days are rounded up to the next days. If years is a whole number, you must enter a zero for days for the answer to be marked as correct. All...
Suppose an individual makes an initial investment of $1,400 in an account that earns 8.4%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in the account...
Suppose an individual makes an initial investment of $2,400 in an account that earns 7.2%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in the account...
You're prepared to make monthly payments of $310, beginning at the end of this month. into an account that pays 7.2 percent interest compounded monthly How many payments will you have made when your account balance reaches $22,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of payments
An ordinary annuity that earns 7.4% compounded monthly has a current balance of $300,000. The owner of the account is about to retire and has to decide how much to withdraw from the account each month. Find the number of withdrawals under each of the following options. (A) $4000 monthly (B) $3000 monthly (C) $2000 monthly
a) A man deposits 20 millions at the end of each month in an account that earns 8 per cent compounded monthly. How long will it take until this man has 6 billions vnd to buy his own apartment? b) Assume that he only can distribute to this account at the end of each month for the first 5 years and then stop depositing. Of course the account still earns 8 per cent compounded monthly. Including the first 5 years, how...
You’re prepared to make monthly payments of $330, beginning at the end of this month, into an account that pays 7.4 percent interest compounded monthly. How many payments will you have made when your account balance reaches $24,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of payments
How long will it take an RRSP to grow to $690,000 if it receives a contribution of $1,900 at the beginning of each quarter and it earns: (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) a. 4.2% compounded quarterly quarterly contributions b. 6.4% compounded quarterly quarterly contributions c. 9.1% compounded quarterly quarterly contributions d. 9.9% compounded quarterly quarterly contributions
V poms Suppose an individual makes an initial investment of $2,600 in an account that earns 6.6%, compounded monthly, and makes additional contributions of $100 at the end of each month for a period of 12 years. After these 12 years, this individual wants to make withdrawals at the end of each month for the next 5 years (so that the account balance will be reduced to $0). (Round your answers to the nearest cent.) (a) How much is in...
11 You're prepared to make monthly payments of $320, beginning at the end of this month, into an account that pays 4 percent interest compounded monthly Required: How many payments will you have made when your account balance reaches $18,136? (Do not round your intermediate calculations.)