You can deposit $10,000.00 per year from one investment. You can deposit $6,000.00 per year from another investment. The compound rate will be 8.50% annually. The ultimate goal is to have $356,000.00 at the end of the investment cycle. How long will it take you to reach your goal?
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You can deposit $10,000.00 per year from one investment. You can deposit $6,000.00 per year from...
You have $27,886.55 in a brokerage account, and you plan to deposit an additional $5,500 at the end of every year until your account totals $350,000. You expect to earn 8.8 percent annually on the account. How long will it take to reach your goal?
You are saving for retirement. You start your first deposit one year from now and want to make 40 identical end-of-year deposits. After 40 years, you want in your account a sufficient amount so that you can have the same purchasing power as $30,000 today for 20 years. Assuming inflation of 3% and investment rate of 6%, how much do you have to save annually to achieve this. Assume no inflation following retirement.
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In this question, you have $27,609.98 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $280,000. You expect to earn 14% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.
8-One year from now, you deposit $300 in a savings account. You deposit $1,800 the next year. Then you wait two more years (until 4 years from now) and deposit $1,000. If your account always earns 6% annual interest and you make no withdrawals, how much will be in the account 11 years from now? 9-You deposit $5000 for 5 years at 4% annual interest. In 5 years, you add $15,000 to your account, but the rate on your account...
You have $57,806.75 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $280,000. You expect to earn 11% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.
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You have $9,423.69 in a brokerage account, and you plan to deposit an additional $6,000 at the end of every future year until your account totals $230,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.