Suppose that you want to have a $100,000 retirement fund after 30 years. How much will...
Suppose that you want to have a $100,000 retirement fund after 30 years. How much will you need to deposit now if you can obtain an APR of 5%, compounded daily? Assume that no additional deposits are to be made to the account.
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Suppose that you want to have a $100,000 retirement fund after
30 years. How much will...
Suppose you want your daughter's college fund to contain $100,000 after twelve years. If you can...
Suppose you want your daughter's college fund to contain $100,000 after twelve years. If you can get a fixed APR of 6.7% compounded monthly, how many dollars should you deposit at the end of each month? Round answer to the nearest dollar.
Suppose you are exactly 25 years old and you are planning to save for your retirement...
Suppose you are exactly 25 years old and you are planning to save for your retirement which will happen in 40 years. You plan to deposit equal amount at the beginning of each month in your retirement account with the first saving made today. Assume the retirement account pays you 6% p.a. compounded monthly. (a) If you would like to have $1,000,000 in your retirement account 40 years later when you are retired, how much will you have to deposit...
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?
You want to retire exactly 30 years from today with $1,980,000 in your retirement account. If you think you can earn an...
You want to retire exactly 30 years from today with $1,980,000 in your retirement account. If you think you can earn an interest rate of 10.19 percent compounded monthly, how much must you deposit each month to fund your retirement?
You want to retire in 30 years, you estimate that you need to accumulate $500,000. You...
You want to retire in 30 years, you estimate that you need to accumulate $500,000. You plan to make equal, end-of-year deposits into an account earning 10 percent, annual compounding? How large must the annual deposits be to create the $500,000 fund in 30 years? If you can afford to deposit only $6000 per year into the account, how much will you have accumulated in 30 years? How large must the annual deposits be to create the $500,000 fund by...
1. How much would you need to deposit in an account now in order to have $5000 in the account in 15 years? Assume the ac...
1. How much would you need to deposit in an account now in order to have $5000 in the account in 15 years? Assume the account earns 5% interest compounded monthly. 2. You currently have $7,700 (Present Value) in an account that has an interest rate of 3% per year compounded quarterly (4 times per year). You want to withdraw all your money when it reaches $18,480 (Future Value). In how many years will you be able to withdraw all...
Austin Miller wishes to have $600,000 in a retirement fund 30 years from now. He can...
Austin Miller wishes to have $600,000 in a retirement fund 30 years from now. He can create the retirement fund by making a single lump-sum deposit today. Use your financial calculator or the appendixes to determine the lump sum amount needed if the fund that earns 6% annually. $ How much would Austin need to have on deposit at retirement in order to withdraw $45,000 annually over 15 years in the retirement fund earning 6%? $
(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?
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?
You want to retire in 30 years, you estimate that you need to accumulate $500,000. You plan to make equal, end-of-year deposits into an account earning 10 percent, annual compounding? How large must the annual deposits be to create the $500,000 fund in 30 years? If you can afford to deposit only $6000 per year into the account, how much will you have accumulated in 30 years? How large must the annual deposits be to create the $500,000 fund by...
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