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Alex and tony are twins.After graduation and being finally able to get a good job,they plan for retirement as follows;
•Starting at age 24, Alex deposits 10,000.00 pesos at the end of each year for 36 years.
•Starting at age 42, Tony deposits 20,000.00 pesos at the end of year for 18 years.
who will have the greater amount at retirement if both
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- Alex and Tony are twins. After graduation and being finally able to get a good job, they plan for retirement as follows: 1. Starting at age 24, Alex deposits PI0,000.00 at the end of each year for 36 years. 2. Starting at age 42, Tony deposits P20,000.00 at the end of each year for 18 years. Who will have the greater amount at retirement if both annuities earn 12% per year compounded annually?Alex and Toni are twins. After Graduation and being finally able to get a job they plan for retirement as follows. Starting age 24, Alex deposits ₱ 10 000.00 at the end of each year for 36 years. Starting age 42, Toni deposits ₱ 20 000.00 at the end of each year for 18 years. Who will have a greater amount of retirement if both annuities earn 12% per year compounded annually?Alex and Tony are twins. After graduation and being finally able to get a good job, they plan for retirement as follows: Starting at age 24, Alex deposits 10,000 php at the end of each year for 36 years; and starting at age 42, Tony deposits 20,000 php at the end of each year for 18 years. Who will have the greater amount at retirement if both annuities earn 12% per year compounded annually?
- Leon and Heidi decided to invest $3,250 annually for only the first nine years of their marriage. The first payment was made at age 20. If the annual interest rate is 9%, how much accumulated interest and principal will they have at age 65?Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 10%, how much accumulated interest and principal will they have at age 65?Twins graduate from college together and start their careers. Twin 1 invests $1500 at the end of each year for 10 years only (until age 31) in an account that earns 7%, compounded annually. Suppose that twin 2 waits until turning 40 to begin investing. How much must twin 2 put aside at the end of each year for the next 25 years in an account that earns 7% compounded annually in order to have the same amount as twin 1 at the end of these 25 years (when they turn 65)? (Round your answer to the nearest cent.)
- John graduates from college at the age of 25. He places $5,000 in a 401k at the beginning of year one, $8,000 at the beginning of year two, $11,000 at the beginning of year three, $14,000 at the beginning of year four, andthen $15,000 per year until he retires at the age of 60. If money earns 8 percent per year, how much will John have in his retirement account at age 60?At age 33 Jacob starts making a contribution of $425 at the end of each half-year into a retirement account that pays 6% annually. He continues to do so for 15 years, until he is 48, and then quits making contributions. Suppose that he leaves the money in the account until he is 65. How much money will there be in the account? How much of that money is interest he has earned?EZ 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?
- Karen has been depositing $150 at the end of each month in a tax-free retirement account since she was 25. Matt, who is the same age as Karen, started depositing $250 at the end of each month in a tax-free retirement account when he was 35. Assuming that both accounts havebeen and will be earning interest at the rate of 4%/year compounded monthly, who will end up with the larger retirementaccountat the age of 65? [????:?=?((1+?)^?−1/?) ?ℎ??? ?= ?? ??? ?= # ?? ??????tsErika and Kitty, who are twins, have just received $30,000 each for their 25th Each sister plans to make a $5,000 annual contribution to her retirement fund on her birthday, beginning a year from today. Erika opened an account with a fund that provides a 6% return per year. Kitty invested in fund that provides a 20% return per year. How old will each sister be when she becomes a millionaire? How large should Erika’s annual contributions have to be for her to become a millionaire at the same age as Kitty?When Joe and Sarah graduate from college, each expects to work a total of 45 years. Joe begins saving for retirement immediately. He plans to deposit $625 at the end of each quarter into an account paying 8.1% interest, compounded quarterly, for 10 years. He will then leave his balance in the account, earning the same interest rate, but make no further deposits for 35 years. Sarah plans to save nothing during the first 10 years and then begin depositing $625 at the end of each quarter in an account paying 8.1% interest, compounded quarterly for 35 years. Complete parts (a) through (e) below. a. Without doing any calculations, predict which one will have the most in his or her retirement account after 45 years. Then test your prediction by answering the following questions. Choose the correct answer below. OA. Sarah will have more in her account after 45 years. Joe earned interest for 10 more years than Sarah, but Sarah contributed monthly payments for a lot longer than Joe. B. Joe will…