Future value = Annuity * [(1 + r)n - 1] / r
1,700,000 = Annuity * [(1 + 0.085)30 - 1] / 0.085
1,700,000 = Annuity * 124.214725
Annuity = $13,685.98
Annual deposit must be $13,685.98
(Related to Checkpoint 6.1) (Annuity payments) Lisa Simpson wants to have $1,700,000 in 30 years by...
Lisa Simpson want to have $1,000,000 in 45 years by making equal annual end-of-the-year deposits into a tax deferred account paying 9.50 % annually. What must Lisa's annual deposit be? Que: The amount of Lisa's annual deposit must be ? P6-34 (similar to) (Related to Checkpoint 6.1) (Annuity payments) Lisa Simpson wants to have $1,000.000 in 45 years by making equal annual end-of-the-year depodts into a tax deferred account paying 9.50 percent annualy The amount of Lisa's annual deposit must...
Lisa Simpson wants to have $1,100,000 in 55 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 8.50 percent annually. What must Lisa's annual deposit be? The amount of Lisa's annual deposit must be $_____.
Lisa Simpson wants to have $1.9 million in 35 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 9.25 percent annually. What must Lisa's annual deposit be? The amount of Lisa's annual deposit must be $____.
Lisa Simpson wants to have $1,900,000 in 60 years by making equal annual end-of-the-year deposits into a tax-deferred account paying 9.75 percent annually. What must Lisa's annual deposit be?
Simpson wishes to have 1,100,000 in 35 years by making annual end-of-the-year deposits into a tax-deferred account paying 11.75% annually. what must lisa's deposit be? the deposit must be $___. (round to the nearest cent)
6–34. (Calculating annuity payments) (Related to Checkpoint 6.1 on page 196) Sheryl Williams wants to have a million dollars when she retires, 40 years from now. She is planning to do this by depositing an equal amount at the end of every year for the next 40 years. If her tax-free savings account pays her 9 percent per annum, how much does she need to deposit every year?
(Related to Checkpoint 6.1) (Annuity payments) Mr. Bill S. Preston, Esq. purchased a new house for $70,000. He paid $20,000 upfront and agreed to pay the rest over the next 20 years in 20 equal annual payments that include principal payments plus 15 percent compound interest on the unpaid balance. What will these equal payments be? a. Mr. Bill S. Preston, Esq., purchased a new house for $70,000 and paid $20,000 upfront. How much does he need to borrow to...
.-3. juu ting annuity payments) (Related to Checkpoint 6.1 on page 196) James Har- rison bought a house for £180,000. He paid £20,000 upfront from his savings and took a mortgage to pay the rest for 25 years. The mortgage was to be paid in 25 equal annual installments that included both principal and interest. This mortgage charged 6 percent compound interest on unpaid balance. What will his annual installments be?
You would like to save up $1,000,000 in 45 years by making equal end of the year deposits into a tax-deferred account paying 6% annually. What must your annual deposit equal to achieve this goal?
(Related to Checkpoint 5.2) (Future value) If you deposit $3,500 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years (assuming no further deposits)? In 40 years? a. If you deposit $3,500 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years? $ (Round to the nearest cent.)