Suppose you want to have $300,000 for retirement in 30 years. Your account earns 9% interest.
a) How much would you need to deposit in the account each month?
$
b) How much interest will you earn?
$
Homework Answers
Suppose you want to have $300,000 for retirement in 30 years. Your account earns 10% interest....
Suppose you want to have $300,000 for retirement in 30 years. Your account earns 10% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn?
1. You deposit $400 each month into an account earning 7% interest compounded monthly. a) How...
1. You deposit $400 each month into an account earning 7% interest compounded monthly. a) How much will you have in the account in 35 years? $ b) How much total money will you put into the account? $ c) How much total interest will you earn? $ 2. Suppose you want to have $300,000 for retirement in 35 years. Your account earns 8% interest. a) How much would you need to deposit in the account each month? $ b)...
Suppose you want to have $700,000 for retirement in 35 years. Your account earns 9% interest....
Suppose you want to have $700,000 for retirement in 35 years. Your account earns 9% interest. How much would you need to deposit in the account each month? $ Submit Question
(include formulas) 1. Suppose you want to have $400,000 for retirement in 20 years. Your account...
(include formulas) 1. Suppose you want to have $400,000 for retirement in 20 years. Your account earns 4% interest. How much would you need to deposit in the account each month? 2. You have $500,000 saved for retirement. Your account earns 10% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?
9. How much would you need to deposit in an account now in order to have...
9. How much would you need to deposit in an account now in order to have $6,000 in the account in 8 years? Assume the account earns 6% interest compounded monthly. 13. Jose has determined he needs to have $800,000 for retirement in 30 years. His account earns 6% interest. a. How much would he need to deposit in the account each month? b. How much total money will he put into the account? c. How much total interest will...
Suppose you want to have $400,000 for retirement in 20 years. Your account earns 10% interest....
Suppose you want to have $400,000 for retirement in 20 years. Your account earns 10% interest. How much would you need to deposit in the account each month?
Suppose you want to have $400,000 for retirement in 25 years. Your account earns 6% interest....
Suppose you want to have $400,000 for retirement in 25 years. Your account earns 6% interest. How much would you need to deposit in the account each month?
Suppose you want to have $800,000 for retirement in 35 years. Your account earns 10% interest....
Suppose you want to have $800,000 for retirement in 35 years. Your account earns 10% interest. How much would you need to deposit in the account each month?
i. You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in the account in 5 ye...
i. You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in the account in 5 years? ii. Suppose you want to have $400,000 for retirement in 20 years. Your account earns 8% interest. How much would you need to deposit in the account each month?
You want to be able to withdraw $40,000 from your account each year for 30 years...
You want to be able to withdraw $40,000 from your account each year for 30 years after you retire. If you expect to retire in 25 years and your account earns 5.6% interest while saving for retirement and 4.1% interest while retired: Round your answers to the nearest cent as needed. a) How much will you need to have when you retire? b) How much will you need to deposit each month until retirement to achieve your retirement goals? c)...
Suppose you want to have $700,000 for retirement in 35 years. Your account earns 9% interest. How much would you need to deposit in the account each month? $ Submit Question
9. How much would you need to deposit in an account now in order to have $6,000 in the account in 8 years? Assume the account earns 6% interest compounded monthly. 13. Jose has determined he needs to have $800,000 for retirement in 30 years. His account earns 6% interest. a. How much would he need to deposit in the account each month? b. How much total money will he put into the account? c. How much total interest will...
You want to be able to withdraw $40,000 from your account each year for 30 years after you retire. If you expect to retire in 25 years and your account earns 5.6% interest while saving for retirement and 4.1% interest while retired: Round your answers to the nearest cent as needed. a) How much will you need to have when you retire? b) How much will you need to deposit each month until retirement to achieve your retirement goals? c)...
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