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Question 23 1 pts Luis has $160,000 in his retirement account at his present company. Because...
Luis has $150,000 in his retirement account at his present company
Luis has $150,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $3000/quarter into the new account until his retirement 20 years from now. If the new account earns interest at the rate of 8%/year compounded quarterly, how much will Luis have in his account at the time of his retirement?
11. [-/0.1 Points] DETAILS TANAPMATHS 4.2.022 MY NOTES PRACTICE ANOTHER Luis has $140,000 in his retirement...
11. [-/0.1 Points] DETAILS TANAPMATHS 4.2.022 MY NOTES PRACTICE ANOTHER Luis has $140,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to roll over his assets to a new account. Luis also plans to put $3500/quarter into the new account until his retirement 30 yr from now. If the account earns interest at the rate of 7%./year compounded quarterly, how much will Luis have in his account at...
Anthony invested a sum of money 4 yr ago in a savings account that has since paid interest at the rate of
9. Anthony invested a sum of money 4 yr ago in a savings account that has since paid interest at the rate of 7%/year compounded quarterly. His investment is now worth $22,438.81. How much did he originally invest? Please round the answer to the nearest cent. 10. Joe plans to deposit $300 at the end of each month into a bank account for a period of 2 yr, after which he plans to deposit S500 at the end of each month into the same...
17. SAVINGS ACCOUNTS Linda has joined a Christmas Fund Club at her bank. At the end...
17. SAVINGS ACCOUNTS Linda has joined a Christmas Fund Club at her bank. At the end of every month, December through October inclusive, she will make a deposit of $40! in her fund. If the money earns interest at the rate of 2.5%/year compounded monthly, how much will she have in her account on December 1 of the following year? 21. INVESTMENT ANALYSIS Luis has $150,000 in his retirement account at his present company. Because he is assuming a position...
Please help me do 2 questions! I can't do that! Thank you. r 6. 0/1 points | Previous Answers TanApMath7 4.2.021 My...
Please help me do 2 questions! I can't do that! Thank
you.
r 6. 0/1 points | Previous Answers TanApMath7 4.2.021 My Notes Ask Your Teacher Luis has丰190,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $2000 quarter into the new account until his retirement 30 years from now the new account earns interest...
Billy is 30 years old and has $100,000 for retirement in an IRA with 6% interest,...
Billy is 30 years old and has $100,000 for retirement in an IRA with 6% interest, compounded monthly, for the next 30 years. Billy wants to retire in exactly 30 years at age 60, and he can afford to put $X per month into the account starting next month and then continuing for the subsequent 359 months straight until he retires. When Billy retireS, he plans to use the entire balance in the IRA to purchase an ordinary annuity that...
1. Find the final amount in the following retirement account, in which the rate of return...
1. Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change over time. $552 per month invested at 5%, compounded monthly, for 3 years; then $753 per month invested at 7%, compounded monthly, for 3 years. What is the amount in the account after 6 years? 2. Find the final amount in the following retirement account, in which the rate of return on the account and the...
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn)....
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn). If deposits of $10,000 are made each year into an account paying 8% compounded annually, how much will be in the account after 23 years? What will be the total amount of interest earned? The amount in the account after 2 years is $ (round to the nearest cent, as needed). The amount of interest earned is s (round to the nearest cent, as...
Question 23 2.5 pts What is the biggest benefit offered by company retirement plans that individual...
Question 23 2.5 pts What is the biggest benefit offered by company retirement plans that individual retirement plans do not have? Guaranteed Returns on Investment A defined benefit amount at investment maturity Company Contxbutions Diversity of Investments A type of company retirement plan which offers guaranteed automatic payouts in retirement based on a formula that usually considers your salary and years of service is known as a: 401K Mutual Fund Pension Annuity You are offered your first job post-gradation and...
Lab 3: Saving for Retirement Lab Part 1: The Importance of Starting Early. Because 401(k) accounts...
Lab 3: Saving for Retirement Lab Part 1: The Importance of Starting Early. Because 401(k) accounts and annuities are an example of the power of compound interest, an amazing amount of growth occurs in the later years of the 401(k) or annuity. This can be calculated with the formula 12M*((1+) "8) – 1) Balance after nt deposits = 1. Lulu started saving $200/month in a 401(k) earning 6% interest compounded monthly when she was 45 years old. How much will...
11. [-/0.1 Points] DETAILS TANAPMATHS 4.2.022 MY NOTES PRACTICE ANOTHER Luis has $140,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to roll over his assets to a new account. Luis also plans to put $3500/quarter into the new account until his retirement 30 yr from now. If the account earns interest at the rate of 7%./year compounded quarterly, how much will Luis have in his account at...
17. SAVINGS ACCOUNTS Linda has joined a Christmas Fund Club at her bank. At the end of every month, December through October inclusive, she will make a deposit of $40! in her fund. If the money earns interest at the rate of 2.5%/year compounded monthly, how much will she have in her account on December 1 of the following year? 21. INVESTMENT ANALYSIS Luis has $150,000 in his retirement account at his present company. Because he is assuming a position...
Please help me do 2 questions! I can't do that! Thank
you.
r 6. 0/1 points | Previous Answers TanApMath7 4.2.021 My Notes Ask Your Teacher Luis has丰190,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $2000 quarter into the new account until his retirement 30 years from now the new account earns interest...
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn). If deposits of $10,000 are made each year into an account paying 8% compounded annually, how much will be in the account after 23 years? What will be the total amount of interest earned? The amount in the account after 2 years is $ (round to the nearest cent, as needed). The amount of interest earned is s (round to the nearest cent, as...
Question 23 2.5 pts What is the biggest benefit offered by company retirement plans that individual retirement plans do not have? Guaranteed Returns on Investment A defined benefit amount at investment maturity Company Contxbutions Diversity of Investments A type of company retirement plan which offers guaranteed automatic payouts in retirement based on a formula that usually considers your salary and years of service is known as a: 401K Mutual Fund Pension Annuity You are offered your first job post-gradation and...
Lab 3: Saving for Retirement Lab Part 1: The Importance of Starting Early. Because 401(k) accounts and annuities are an example of the power of compound interest, an amazing amount of growth occurs in the later years of the 401(k) or annuity. This can be calculated with the formula 12M*((1+) "8) – 1) Balance after nt deposits = 1. Lulu started saving $200/month in a 401(k) earning 6% interest compounded monthly when she was 45 years old. How much will...
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