Meg's pension plan is an annuity with a guaranteed return of 4%
per year (compounded quarterly). She would like to retire with a
pension of $20,000 per quarter for 20 years. If she works 32 years
before retiring, how much money must she and her employer deposit
each quarter? HINT [See Example 5.] (Round your answer to the
nearest cent.)
$
I HOPE ITS HELPFUL TO YOU IF YOU HAVE ANY DOUBTS PLS COMMENTS BELOW..I WILL BE THERE TO HELP YOU...ALL THE BEST...!!
AS FOR GIVEN DATA...
Meg's pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly)....
#5 hw Pensions Meg's pension plan is an annuity with a guaranteed return of 7% per year (compounded quarterly). She would like to retire with a pension of $30,000 per quarter for 25 years. If she works 41 years before retiring, how much money must she and her employer deposit each quarter? (Round your answer to the nearest cent.) $
MY RULLU JI TULI TULUM 7. -/1 points WaneFMAC7 3.3.058. Meg's pension plan is an annuity with a guaranteed return of 4% per year (compounded quarterly). She would like to retire with a pension of $30,000 per quarter for 10 years. If she works 22 years before retiring, how much money must she and her employer deposit each quarter? HINT (See Example 5.] (Round your answer to the nearest cent.) Need Help? Read It Talk to a Tutor
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
Christine O'Brien, who is self-employed, wants to investa. Choose the investment which will earn the most $80,000 in a pension plan. One investment offers 6% compounded quarterly. Another offers 5.75% compounded continuously. a. Which investment will earn the most interest in 5 years? b. How much more wil the better plan earn? C. What is the effective rate in each case? interest below O compounded continuously O compounded quarterly b. The difference is $ d. If Ms. O'Brien chooses the...
11 $90,000 invested in an annuity that compounded quarterly, what payments will it provide at the end of each quarter for the next 2. years? (Round your answer to the nearest cent 3160390 X Need Help? Suppose an annuity will pay $14,000 at the beginning of each year for the next years. How much money is needed to start this annuity in keams 7,7%, compounded annually (Round your answer to the nearest cont.) $ Need Help? To The
Suppose $200,000 used to establish an annuity that earns 8%, compounded quarterly, and pays $5500 at the end of each quarter How long will it be until the account balance is $02 (Round your answer UP to the newest quarter.) quarters Find the present value of an annuity due that pays $2000 at the beginning of each quarter for the next 6 years. Assume that money is worth 6.6%, compounded quarterly. (Round your answer to the nearest cont.) $ Need...
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...
Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
How much must be invested at the beginning of each year at 8%, compounded annually, to pay off a debt of $20,000 in 6 years? (a) State whether the problem relates to an ordinary annuity or an annuity due. O ordinary annuity annuity due (b) solve the problem. (Round your answer to the nearest cent.) $4005.84 X A house is rented for 56,600 per quarter, with each rent payable due at the beginning of each quarter. If money is worth...
NI- years? (Round your an If $88,000 is invested in an annuity that eams 5.8%, compounded quarterly, what payments will it provide at the end of each quarter for the next 8 nearest cent.) X Need Help? $173536 Read it Tik to a Tutor Find the present value of an annuity due that pays $2000 at the beginning of each quarter for the next 6 years. Assume that money is worth 6.6%, compounded quarterly. (Round your answer to the nearest...