Homework Answers
Add Answer to:
4:457 Exit Use the given information to compute the future value of the investment: A principal...
Mike is currently 35 years old and plans on retiring at the age of 65. Ideally,...
Mike is currently 35 years old and plans on retiring at the age of 65. Ideally, Mike would like to retire with $1,000,000.00. A.How much would Mike have to deposit on a monthly basis to reach his goal if he can get a return of 10% compounded monthly? B. If Mike can only deposit $350 on a monthly basis, what annual rate would he have to receive to reach his goal? C.If Mike was quoted an APR of 11%, what...
(3 pts) Bob would ike to have $20,000 in 4 years to use as a down...
(3 pts) Bob would ike to have $20,000 in 4 years to use as a down payment on a future house purchase. He has no money saved up now, but plans on depositine 5375 per month at the end of every month to save for this goal. What is the periodic interest rate Bob must earn to reach his goal? What is the Annual Percentage rate? 1) Periodic Nominal APR) (3 pts) Sue has $30,000 to use as a down...
two mechanical engineers working for the ACME Machine Company were having lunch together one day. They...
two mechanical engineers working for the ACME Machine Company were having lunch together one day. They were lamenting the fact that the United States Social Security fund may not be solvent when they retire, leaving a financial hole in their retirement plans. It turns out that the ACME Machine Company has a pretty good pension plan for retirees. However, Joan and Steve would like to have an additional $2,000 per month on top of their pensions when they retire. To...
Consider the two savings plans below. Compare the balances in each plan after 6 years Which...
Consider the two savings plans below. Compare the balances in each plan after 6 years Which person deposited more money in the plan? Which of the two investment strategies is better? Yolanda deposits $550 per month in an account with an APR of 3%, while Zach deposits $7000 at the end of each year in an account with an APR of 3.5% The balance in Yolanda's saving plan after 6 years was $ (Round the final answer to the nearest...
10. Assume that you are now 25 years old. You would like to retire at age...
10. Assume that you are now 25 years old. You would like to retire at age 65 and have a retirement fund of $5,000,000 at the time of your retirement. You have already $50,000 at age 25 in the retirement account. You expect to earn 7% per year. The amount of money you must set aside each month to reach your retirement goal is: A. $4,377.98 B. $1594.18 C. $3500.00 D. $2500.00
1) You are 50 years old and proud of having $75,000 invested in a mutual fund...
1) You are 50 years old and proud of having $75,000 invested in a mutual fund earning an impressive 17% per year. You want to retire when you are 65 years old and are confident you'll reach your goal of $1,000,000 by then. Will you make it? If not, what yield would see that you do? 2) Jack and Jill want to retire when they accumulate $1,500,000 in their individual retirement funds. They figure that they can just live off...
How to solve this problem in Excel Sheet? Assume that you are now 35 years old....
How to solve this problem in Excel Sheet?
Assume that you are now 35 years old. You would like to retire at age 65 and have a retirement fund of $5,000,000 at the time of your retirement. You have already $100,000 in the retirement account. You expect to earn 6% per year. The amount of money you must set aside each month beginning one month from now to reach your retirement goal is:
need help with B, C, D Question 1 (20 points) a) Calculate the future value of...
need help with B, C, D
Question 1 (20 points) a) Calculate the future value of $20,000 invested now (time zero) for 5 years. It grows at a rate of 3% per year compounded annually. b) How much money will you have 25 years from now, if you deposit $1,000 into a bank account at the end of each year. Assume that the bank gives an interest rate of 2% compounded annually? c) Calculate the present value of a uniform...
your retirement pension is an annuity with a guarnteeed return of 4% interest compounded monthly. you...
your retirement pension is an annuity with a guarnteeed return of 4% interest compounded monthly. you would like to retire with a pension of 3000 per month for 25 years. A) how much money needs to be in account at the time of retirement in order to fund these withdraws B) how much must be deposited each month into the accoint during the 45 years leading up to retirement in order to achieve this
3) After graduating from IU, you are hired by a company that offers a 401(k) retirement...
3) After graduating from IU, you are hired by a company that offers a 401(k) retirement plan. You would like to save enough in this plan so that when you retire in 50 years you have an account balance of $2.8 million. You plan to make monthly contributions, and expect a real annual return of 6%, compounded monthly. How much should you deposit each month to reach your goal?
(3 pts) Bob would ike to have $20,000 in 4 years to use as a down payment on a future house purchase. He has no money saved up now, but plans on depositine 5375 per month at the end of every month to save for this goal. What is the periodic interest rate Bob must earn to reach his goal? What is the Annual Percentage rate? 1) Periodic Nominal APR) (3 pts) Sue has $30,000 to use as a down...
Consider the two savings plans below. Compare the balances in each plan after 6 years Which person deposited more money in the plan? Which of the two investment strategies is better? Yolanda deposits $550 per month in an account with an APR of 3%, while Zach deposits $7000 at the end of each year in an account with an APR of 3.5% The balance in Yolanda's saving plan after 6 years was $ (Round the final answer to the nearest...
1) You are 50 years old and proud of having $75,000 invested in a mutual fund earning an impressive 17% per year. You want to retire when you are 65 years old and are confident you'll reach your goal of $1,000,000 by then. Will you make it? If not, what yield would see that you do? 2) Jack and Jill want to retire when they accumulate $1,500,000 in their individual retirement funds. They figure that they can just live off...
How to solve this problem in Excel Sheet?
Assume that you are now 35 years old. You would like to retire at age 65 and have a retirement fund of $5,000,000 at the time of your retirement. You have already $100,000 in the retirement account. You expect to earn 6% per year. The amount of money you must set aside each month beginning one month from now to reach your retirement goal is:
need help with B, C, D
Question 1 (20 points) a) Calculate the future value of $20,000 invested now (time zero) for 5 years. It grows at a rate of 3% per year compounded annually. b) How much money will you have 25 years from now, if you deposit $1,000 into a bank account at the end of each year. Assume that the bank gives an interest rate of 2% compounded annually? c) Calculate the present value of a uniform...
Most questions answered within 3 hours.
-
Alternative
Classification
How to Estimate
Probabilities from Data? ( For continuous Attributes)
And How to generate...
asked 2 minutes ago -
An explosion breaks a 20.0-kg object into three parts. The
object is initially moving at a...
asked 55 minutes ago -
Calculate the approximate number of residues of Rubisco, which
is involved in carbon fixation in plants,...
asked 1 hour ago -
Other decisions about scientific claims can have a much broader
impact.ENERGYarrow-10x10.png, environment, health, security - all...
asked 2 hours ago -
I need to write a research paper and work cited about this
topic: The United States...
asked 3 hours ago -
Hello! I was wondering if I could have some help?
If the vapor pressure of carvone...
asked 3 hours ago -
An economist wants to estimate the mean per capita income (in
thousands of dollars) for a...
asked 3 hours ago -
What would be the input/output characteristic of a circuit
obtained by putting two of your 2's-complementers...
asked 3 hours ago -
In Drosophila, the transition from the syncytial blastoderm
stage to the cellular blastoderm stage is a...
asked 4 hours ago -
Project management question:
Name 3 different types of resources (hint: humans are one
type)
asked 4 hours ago -
Consider the following reaction: C 2H 2( g) + 2H 2( g) C 2H 6(
g)...
asked 4 hours ago -
Consider a 1.0 L buffer containing 0.092 mol L-1 HCOOH and 0.100
mol L-1 HCOO-. What...
asked 4 hours ago