Future value of annuity=Annuity[(1+rate)^time period-1]/rate
=10,000[(1.1)^30-1]/0.1
=10,000*164.494023
=$1644940.23(Approx).
7. You plan to save $10,000 at the end of every year for 30 years and...
You plan to save $4,000 at the end of every year for 25 years and then retire. Given a 8% rate of 4. return, what will be the FV of your retirement account at the end of this 25 year period? 4000 (1.08)^25 Calculate with cal www
8. You plan to save $200 every month until you retire in 35 years, starting at the end of this month. Given an 10% rate of interest, what will be the value of your retirement account on the day you retire?
5. What is the present value of an annuity due with 5 annual payments of $100, evaluated at a 15 percent interest rate? 6. What is the future value at the end of the 5th year of an annuity due with 5 annual payments of $300, evaluated at a 10 percent interest rate 7. You plan to save $10,000 at the end of every year for 30 years and then retire. Given a 10% rate of interest, what will be...
3. What is the future value at the end of a 5 year period of a 5-year ordinary annuity with annual payments of $400, evaluated at a 10% interest rate? 400 (1.10)45-1) / 10 Calculate with cal 4. You plan to save $4,000 at the end of every year for 25 years and then retire. Given a 8% rate of return, what will be the FV of your retirement account at the end of this 25 year period? 4000 (1.08)425...
You plan to retire 30 years from now. You will save $5,000 per year for the next 15 years, and then $7,000 for the 15 years after that. You can earn 9% on your savings. How much will you have 30 years from now? Round your answer tothe nearest whole number,for example 1441. You will save $4,000 per year for the next 30 years. You will earn 10% on your savings. At the end of 30 years, you will retire,...
you plan to save for retierment by putting 5000 every year for 30 years into a mutal fund that will reutrn 12% per year. how much money will be in your fund at the end of 30 years
To save for retirement, you deposit $719.58 at the end of every month. If you make these payments for the next 46 years while you work, and the interest rate is 12.78%, how much will you have in your retirement account when you go to retire? That is, immeidately after the last payment is made Answer = Cash flow = r = n =
To save for retirement, you deposit $8,592.06 at the end of every 6 months. If you make these payments for the next 44 years while you work, and the interest rate is 12.03%, how much will you have in your retirement account when you go to retire? That is, immeidately after the last payment is made Answer = Cash Flow = r = n =
Homework Question for Time value of money You plan to retire in 30 years and plan on saving $15,000 annually, starting next year, for the next 30 years. You expect to need $120,000 about 18 years from now for college tuition for your recently born daughter which must be paid out of these savings. You expect to live 35 years during retirement (the first retirement payment will be 31 years from today). a. If you assume an interest rate of...
You are trying to decide how much to save for retirement. Assume you plan to save $5,500 per year with the first investment made one year from now. You think you can earn 11.5% per year on your investments and you plan to retire in 34 years, immediately after making your last $5.500 investment. a. How much will you have in your retirement account on the day you retire? b. If, instead of investing $5,500 per year, you wanted to...