Q: On her 31st birthday, Jean invests $1,000 into her employer’s retirement plan, and she continues to…
A: Given information: Annual payment of $1,000 Interest rate is 6% Number of periods is 10,
Q: After receiving an inheritance of $50,000 on her 21st birthday, Katlyn deposited the inheritance in…
A: The future value of deposit is the value of the current deposits on a future date based on the…
Q: At age 18, Susan did nothing. She waited until she was 28 to start depositing $2000 per year at the…
A: Annuity, A = $ 2,000Interest rate, r = 12%Number of annuities = n = 65 - 28 = 37
Q: A manager retired at age 65, and has her retirement savings of $650,000 invested in a mutual fund…
A: An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two…
Q: How much money will there be in the account?
A: solution A= R(1+i)n+1/i R= Contribution half year=$425 n= number of periods=48 years - 33 years =15…
Q: Yuki (age 45 at year-end) has been contributing to a traditional IRA for years (all deductible…
A: A personal retirement account (IRA) is a tax-advantageous savings account that an individual can…
Q: Magnus wishes to have $1,500,00 when he retires in 44 years. What are the monthly payments he must…
A: Future value of annuity = P * [ (1+r)^n - 1 ] /r Where, Future value of annuity = 150000 n = 44 r…
Q: Kathryn, believing that life begins at 40, decided to retire and start enjoying life ar age of 40.…
A: To calculate the present value from the given future value for the given rate and specified period…
Q: At the beginning of the year, Megan had a Net Worth of $78,000. As of January 2021, she set aside…
A: The question is related to Net Worth as on December 31st 2021. Net Worth = Total Assets -…
Q: fter retiring, Sofía wants to be able to withdraw $8,500.00 every quarter from her account for 33…
A: There is need of proper planning for retirement and if you do that properly than you can achieve…
Q: "Jillian has just started her first job with a $58,000 salary at a company with a 401(k) plan that…
A: Annual savings means the highest demand or energy savings that occur in a given year. Annual…
Q: Ivana deposits $2000 annually into a Roth IRA that earns 6.85% compounded annually. Due to a…
A: Annual deposit for 10 years = $ 2000 Annual interest rate = 6.85% Period of future value = 25+10 =…
Q: amount (same buying power) which she currently enjoys. Inflation is expected to remain at 6% pa…
A: If you plan properly and on time for retirement than you can retire with good amount of money on…
Q: After retiring, Gabriella wants to be able to withdraw $7,000.00 every quarter from her account for…
A: Future Value: It is the worth of a resource at a particular date. It estimates the ostensible…
Q: Your uncle has $338,437.45 and wants to retire. He expects to live for another 25 years, and he also…
A: As the withdrawals are being made at the start of each month this is in the form of an annuity due.…
Q: Lynn estimates that when she retires at age 60, she will have $165,766.18 in her retirement account.…
A: Amount at the time of retirement = $ 165766.18 Expected Life as per Lynn = (85-60) + 3 = 28 Years…
Q: After retiring, Rosetta wants to be able to withdraw $4,000.00 every month from her account for 26…
A: Amount to withdraw per month "PMT" is $4,000 Time period is 26 years Interest rate is 6% Compounded…
Q: Connie deposits $2000 at the end of each year into her Individual Retirement Account IRA. It earns…
A: Annuity: a contract that provides income for a specified period of years, or for life. Future value…
Q: Danielle is age 25. Her income tax rate is now 25%, but will be 15% after retiring at age 65. She…
A:
Q: Leon and Heidi decided to invest $3,250 annually for only the first nine years of their marriage.…
A: The future value is considered as the sum of its present value P, after growing at compounded…
Q: Today is Hanan 23rd birthday. Starting today, Hanan plans to begin saving for her retirement. Her…
A: Annual Deposit =$1000 Amount Provided by her aunt = $10000 Years(n) = 42 Inteerst Rate(r) =10% =…
Q: Bobbi opens an IRA account in which she deposits $3,000 per year until she retires in 50 years. If…
A: The accumulated amount can be calculated with the help of future value of annuity function
Q: How much does Jeanette need in her account when she retires?
A: Present Value: It is computed by discounting the future annuity cash payments by an appropriate…
Q: A 35-year old woman has $310,090.00 in an IRA account. Due to medical concerns of a family member,…
A: The account value at retirement can be calculated with the help of future value function.
Q: Today is Derek's 25th birthday. Derek has been advised that he needs to have $2,993,861.00 in his…
A: given, FVA =$2,993,861 R=7% N = 37 (29 YEARS - 65 YEARS)
Q: When Sam was 16, he got an after school job at his parents' Mexican restaurant. His parents told him…
A: The future value is the value of the amount that the person will have in its accounts if the regular…
Q: Today is Derek's 25th birthday. Derek has been advised that he needs to have $3,865,014.00 in his…
A: Note: According to the policy, we are supposed to solve one question at a time. Kindly repost the…
Q: After retiring, Valeria wants to be able to withdraw $36,500.00 every year from her account for 27…
A: Amount to withdraw every year "PMT" is $36,500 Time period "N" is 27 years Interest rate "I/Y" is…
Q: J'Mal wishes to retire at age 65. At the age of 21, he begins depositing $35 per month into an…
A: A deposit of $35 is made each month for 44 years (65 years – 21 years) at a rate of 8.5%…
Q: Ann's grandmother put some money in an account for her on the day she was born. She is now 18 years…
A: Given information: Present value amount is Ksh 400,000 Interest rate is 8% per annum, Present age is…
Q: Kate is 28 years old today and is beginning to plan for her retirement . She wants to set aside an…
A: Computation:
Q: Eve is 20 years old and wants to save $2 million for retirement at age 60. Assume she invests in a…
A: A study that proves that the 1value of money today is higher than the future value of money is term…
Q: une Watson is contributing $3,500 each year to a Roth IRA. The IRA earns 4.4% per year. How much…
A: As per the time value of money, a dollar is worth more today than the same dollar in the future.…
Q: 1. Louisa is 72 years old. She purchased an annuity in January of 2021 that will pay her $1,500 per…
A:
Q: Ann’s grandmother put some money in an account for her on the day she was born. She is now 18 years…
A: The amount of money in her account when she turns 70 is calculated by using the future value formula…
Q: To prepare for his retirement in 13 years, Tekla deposited 10,000 in an account paying 9%. Nine…
A: We have certain age for retirement, and for that, we add an amount after some interval of time to be…
Q: Laura's parents invested $13,000.00 in a 14-year certificate for her that pays 6% compounded annual.…
A: Using excel FV function
Q: rdan, age 46, currently makes $143,000. She expects that inflation will average 2.75 percent for her…
A: = Current Income - (Tax Rate × Current Income) - (Saving Rate × Current Income) - payment made for…
Q: Emily Jacob is 45 years old and has saved nothing for retirement. Fortunately, she just inherited…
A: Retirement funds are investment options that allow an individual to save a certain portion of their…
Q: Meagan invests $1,200 each year in an IRA for 12 years in an account that earned 5% compounded…
A: The amount deposited each year = $1200 Interest Rate = 5% Compounded annually Years = 12 1st We need…
Q: Sarah had been contributing $300 pre-tax per month to a retirement account that pays 2.16% interest…
A: The penalty amount will be applicable on the future value amount after 10 years
Q: Jeni has decided that she needs to start saving for her retirement. She can afford $100 a month…
A: The account value at retirement can be calculated with the help of future value of annuity function.
Q: Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage.…
A: The future value of a cash flow is the future worth of a cash flow at a certain rate of interest and…
Q: Patty Stacey deposits $2000 at the end of each of 5 years in an IRA. If she leaves the money that…
A: If a person is depositing payments to the accounts on a regular basis then, the future value is…
Q: Barb has a retirement account of $1,000,000 that earns 2% compounded monthly. If she wishes to…
A: The present value of the annuity is the current worth of a cash flow series at a certain rate of…
Q: Allison is 31years old and plans to retire at age 65 with $920,000 in her retirement account. What…
A: The amount required to deposit today can be calculated with the help of present value function.
Q: From age 20 to 35, Susan deposits $350 semi-annually in a savings account paying 6.12% compounded…
A: Time value of money concept is used to determine the worth of money today is different from that in…
At age 27, Laura deposited $1000 into an IRA, it earns 7 7/8% compounded monthly.
A. What will it be worth when she retires at 65?
B. How much would it be worth if she didn't set it up until she was 35?
Step by step
Solved in 2 steps
- Destiny invests $20,000 today into a retirement account. She expects to earn 7 percent, compounded annually, on her money for the next 30 years. After that, she wants to be more conservative, so only expects to earn 4 percent, compounded annually. How much money will she have in her account when she retires 40 years from now, assuming this is the only deposit he makes into the account? O $225,359.94 O $152.245.10 O $377,605.04 $299,489.16 O None of the answers is correctEmily is trying to decide between investing $1,000 or $1,500 at the beginning of each year for the next 40 years into a retirement account yielding 10.78%. After 40 years, how much extra money will Emily have in her IRA if she invests $1,500 annually instead of $1,000 annually? $4,016,726.94 B) $4,052,810.53 $273,849.26 $30,020.95EZ Leifer plans to retire at the age of 65 and believes he will live to be 90. EZ wants to receive an annual retirement payment of $50,000 at the beginning of each year. He seta a retirement account that is estimated to earn 6 percent annually. a. How much money will EZ have in the account when he reached 65 years old? b. EZ is currently 29 years of age. How much must he invest in this account at the end of each year for the next 36 years to have the required amount in his account at age 65?
- 4. Cecilia Thomas is 25 years old and is planning to invest $ 3,000 annually in an IRA that pays 9.75% compounded annual interest, until she retires at 65 years of age. How much money will Cecilia have for her retirement?Carla Lopez deposits $2,500 a year into her retirement account. If these funds have an average earnings of 5 percent over the 40 hears until her retirement, what will be the value of her retirement account?After retiring, Rachael wants to be able to withdraw $30,000.00 every year from her account for 29 years. Her account earns 7% interest compounded annually. How much does Rachael need in her account when she retires? Rachael needs to have in her account when she retires. am I solving for future value? sorry lost. not sure if I'm trying to find future or present
- Marissa has $202,971.39 in an account that earns 8% per year, compounded monthly. Her 27th birthday was yesterday, and she will retire when the account value is $1 million. At what age can she retire if she puts no more money in the account? A. 43 B. 45 C. 47 D. 49Bobbi opens an IRA account in which she deposits $3,000 per year until she retires in 50 years. If Bobbi earns 12% per year on that account, how much will she have accumulated at the end of the 50 years?Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?
- Sara wants to have $530,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 9%, to ensure that she has $530,000 in 18 years time? OA. $112,357 OB. $202,243 OC. $119,492 O D. $157,300Jeni has decided that she needs to start saving for her retirement. She can afford $100 a month deducted automatically from her paycheck. She deposits it into an account that earns 4.5% interest compounded monthly. How much will she have in her account when she retires 42 years later? A. $ 14,922.70 B.$ 50,400.00 C. $132,213.00 D. $149,226.96Rachel starts an IRA (Individual Retirement Account) at the age of 26 to save for retirement. She deposits $300 each month. The IRA has an average annual interest rate of 8% compounded monthly. How much money will she have saved when she retires at the age of 65? Round your answer to the nearest cent, if necessary.