Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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- You are planning to invest $2,000 in an account earning 12% per year for retirement. a. If you put the $2,000 in an account at age 23, and withdraw it 36 years later, how much will you have? b. If you wait 10 years before making the deposit, so that it stays in the account for only 26 years, how much will you have at the end? a. If you put the $2,000 in an account at age 23, and withdraw it 36 years later, how much will you have? In 36 years you would have $. (Round to the nearest cent.)arrow_forwardYou want to be able to withdraw $35,000 from your account each year for 20 years after you retire. You expect to retire in 15 years. If your account earns 10% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?arrow_forwardYou are saving for retirement. To live comfortably, you decide you will need to save $2,500,000 by the time you are 65. Today is your 32nd birthday, and you decide, starting today and continuing on every birthday up to and including your 65th birthday, that you will put the same amount into a savings account. If the interest rate is 7%, how much must you set aside each year to make sure that you will have $ 2,500,000 in the account on your 65th birthday? The amount to deposit each year must be $arrow_forward
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