1) You plan to deposit $200 each month into an IRA earning 0.25% interest monthly. How much will you have in your account in 10 years?
2) You just graduated from college and landed your first "real" job, which pays $68,000 a year. In 9 years how much will you need to earn to maintain the same purchasing power if inflation is 0.75% per year?
3) Calculate the future value of $13,000 earning 9% for 35 years.
4) You have a child who will start college in 17 years, and you plan to set aside $1,000 a year for her college education during that period. You estimate that you will earn an annual interest rate of 8% on your investment. What amount can you expect to have available for your child when they start college?
5) Your interest rate is 6.05%. Convert this percentage to a decimal.
1) You plan to deposit $200 each month into an IRA earning 0.25% interest monthly. How...
You plan to deposit $100 each month into an IRA earning 0.40% interest monthly. How much will you have in your account in 15 years?
You plan to deposit $100 each month into an IRA earning 0.85% interest monthly. How much will you have in your account in 25 years?
You have a child who will start college in 10 years, and you plan to set aside $1,000 a year for her college education during that period. You estimate that you will earn an annual interest rate of 7% on your investment. What amount can you expect to have available for your child when they start college?
If you deposit $250 each month into an individual retirement account (IRA) earning 5% interest, how much will you have in the account after 30 years?
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)...
If you deposit $250 each month into an individual retirement account (IRA) earning 6% APR interest, how much will you have in the account after 25 years?
Question 3 (0.5 points) You just graduated from college and landed your first "real" job, which pays $25,000 a year. In 12 years how much will you need to earn to maintain the same purchasing power if inflation is 0.75% per year? Your Answer: Answer Question 4 (0.5 points) You save $600 a year into a 401(k) account that you invest in a mutual fund earning 7% per year. You plan to retire in 30 years. How much money will...
You deposit $100 semi-monthly (twice a month) in an account earning 8% interest. You plan to continue until your retirement in 35 years. How much will you have in your account after 35 years?
Question 25 (0.5 points) You have a child who will start college in 8 years, and you plan to set aside $1,000 a year for her college education during that period. You estimate that you will earn an annual interest rate of 6% on your investment. What amount can you expect to have available for your child when they start college? Your Answer: Answer
You deposit $300 each month into an account earning 4% interest compounded monthly. a) How much will you have in the account in 30 years? $ b) How much total money will you put into the account? $ c) How much total interest will you earn? $