4. You deposit $450 at the end of every month for four years, at a nominal annual rate of 8.5% compounded monthly. Calculate the amount in your bank account after four years. 5. At the age of 35 John began contributing 10,500 Php every month to a retirement fund. If his money earns interest at a nominal annual rate ofl2%, compounded monthly, how long does he have to make these payments if he wants his retirement fund to be 450,000 Php in the end?

You annually invest $2,000 in an individual retirement account (IRA) starting at the age of 30 and make the contributions for 15 years. Your twin sister does the same starting at age 35 and makes the contributions for 25 years. Both of you earn 7 percent annually on your investment. What amounts will you and your sister have at age 60? Use Appendix A and Appendix C to answer the question. Round your answers to the nearest dollar.Amount on your account: $  Amount on your sister's account: $   Who has the larger amount at age 60?-Select-You haveYour sister hasItem 3 the larger amount.

Isabelle wants to save for retirement. She earns $5400 in income each month, and wishes to deposit 10% of her income into a savings acount each month. If the savings account has a nominal interest rate of 7%, compounded monthly, how much will be in the account if she retires in 35 years?

A 40 year old woman puts $1500 in a retirement account at the end of each quarter through 20 years then stops making further deposits. She keeps money in her account for the next 5 years. How much will she have in her account when she retires at the age of 65 if the bank pays interest at 6.4% compounded quarterly?

Derek currently has $11, 936.00 in an account that pays 5.00%. He will withdraw $5,341.00 every other year beginning next year until he has taken 4.00 withdrawals. He will deposit $11936.0 every other year beginning two years from today until he has made 4.0 deposits. How much will be in the account 27.00 years from today?

Suppose you wish to retire 38 years from today. You determined that you need $220,000 per year after you retire, with the first retirement funds withdrawn one year from the day you retire and that you will need to make 30 such withdrawals. Assuming that you can earn 5% per year on your retirement funds for the next 70 years.   C. How much is left in your account after you make your 22nd withdrawl?

Joey chose to invest his money in an account that pays 2.3% annual interest compounded monthly. Joey’s initial investment was $100. Each month after the first deposit, he deposits another $100. Joey wants to know how much money he has after the first month. How much interest would he earn the first month?   Would Joey add the interest to the $100 initial deposit or subtract the interest from the $100 initial deposit?   The balance with the first month’s interest would be . Since Joey makes a deposit of $100 at the start of the second month, what is the balance after that deposit is made?   Identify the values Joey would use to calculate the interest for the second month: P =  APR =  t =  The amount of interest earned in the second month would be . At the end of the second month, the balance would be . After the deposit for the third month, the balance would be .

Upon graduating from college 40 years​ ago, Dr. Nick Riviera was already planning for his retirement. Since​ then, he has made deposits into a retirement fund on a weekly basis in the amount of ​$25.Nick has just completed his final payment and is at last ready to retire. His retirement fund has earned 9 percent compounded weekly. Use five decimal places for the periodic interest rate in your calculations. a.  How much has Nick accumulated in his retirement​ account? b. In addition to​ this, 10 years ago Nick received an inheritance check for ​$20,000 from his beloved uncle. He decided to deposit the entire amount into his retirement fund. What is his current balance in the​ fund?

Tameshia deposits $5500 in her retirement account every year. If her account pays an average of 6% interest and she makes 38 deposits before she retires, how much money can she withdraw in 20 equal payments beginning one year after her last deposit?

Shelly deposits the $2000 she got as a birthday gift from her grandmother into an account earning 3.6% interest compounded monthly. She decides to also deposit $200 at the end of each month into the same account. How much will be in the account in 10 years?