Joan wants to start an IRA that will have $250,000 in it when she retires in
years. How much should she invest annually in her IRA to do this if the interest is
%
compounded annually? Round to the nearest cent.
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Joe wants to start an SEP-IRA that will have $460,000 in it when he retires in 15 years. How much should he invest semiannually in his IRA to do this if the interest is 15% compounded semiannually? Round to the nearest cent OA. $17,612.13 O B. $4435.77 OC. $4448.77 O D. $4790.74
Larry wants to start an IRA that will have $420,000 in it when he retires in 29 years. How much should he invest semiannually in his IRA to do this if the interest is 6% compounded semiannually? A- $2354.65 B- $9288.16 C- $2767.16 D- $2754.16 E- $888.61
Pat has a Keogh retirement plan (this type of plan is tax-deferred until money is withdrawn).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...
a) You just won $1,000,000 on the lottery. If you chose the payments over 20 years ($50,000 per year) how much is the value of the up-front cash option (present value) if the state uses a 6% rate of return (interest)? b) Katey needs $10,000 in 4 years to use as a down payment on a house. What amount must she invest today if her investment earns 10%? c) Linda invested $1500 today in a fund that earns 8% annually....
Bob makes his first $1,400 deposit into an IRA earning 7.4% compounded annually his 24th birthday and his last $1.400 deposit on his 36th birthday earn 7.4% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? 13 equal deposits in all with no additional deposits the money in the IRA continues to The amount in the IRA when Bob retires is $ (Round to the nearest cent as needed.
Bob makes his first $600 deposit into an IRA earning 7.6% compounded annually on his 24th birthday and his last $600 deposit on his 35th birthday (12 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.6% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? . The amount in the IRA when Bob retires is $ (Round to the nearest cent as...
Bob makes his first $1,300 deposit into an IRA earning 7.9% compounded annually on his 24th birthday and has his last $1,300 deposit on his 42nd birthday (19 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.9% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is $________ (Round to the nearest cent as...
Larry wants to start a that will have $410,000 in it when he retires in 21 years. How much should he invest semiannually to do this if the interest is 6% compounded
c) Linda invested $1500 today in a fund that earns 8% annually. To what amount will the investment grow in 3 years? d) Tonya, age 22, just started working full-time and plans to deposit $5,000 annually into an IRA earning 8 percent interest compounded annually. How much would she have in 20 years? What if she left it in there until she retires at 62? What if she waits another 10 years before she starts saving? How much will she...
Your client is 30 years old. She wants to begin saving for retirement, with the first payment to come one year from now. She can save $3,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 11% in the future. If she follows your advice, how much money will she have at 65? Do not round intermediate calculations. Round your answer to the nearest cent. How much...