Bob makes his firat $1,050 deposit into an IRA eaming 6.5% compounded annualy on the day he tums 23 and his last $1,050 deposit on the day he turns 46 (24 equal deposits in ail) With no additional deposits, the money in the IRA continues to earn 6.5% interest compounded annually until Bob retires on his 6sth birthday. How much is the IRA worth when Bob retires? Value of the IRA on Bob's 6oth birthday (Note: The answer in a dolar amount, should include a dollar sign, and should be accurate to two decimal places).

Bob makes his firat $1,050 deposit into an IRA eaming 6.5% compounded annualy on the day he tums 23 and his last $1,050 deposit on the day he turns 46 (24 equal deposits in ail) With no additional deposits, the money in the IRA continues to earn 6.5% interest compounded annually until Bob retires on his 6sth birthday. How much is the IRA worth when Bob retires? Value of the IRA on Bob's 6oth birthday (Note: The answer in a dolar amount, should include a dollar sign, and should be accurate to two decimal places).

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Bob makes his first $950 deposit into an IRA earning 8% compounded annually on the day he turns 22 and his last $950 deposit on the day he turns 55 (34 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 8% interest compounded annually until Bob retires on his 65th birthday. How much is the IRA worth when Bob retires? Value of the IRA on Bob's 65th birthday: $ |
Bob makes his first $1,400 deposit into an IRA earning 6.8% compounded annually on his 24th birthday and his last $1,400 deposit on his 41st birthday (18 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 6.8% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when bob retires?
Bob makes his first $1,600 deposit into an IRA earning 7.8% compounded annually on his 24th birthday and his last $1,600 deposit on his 44th birthday (21 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.8% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is $. (Round to the nearest cent as needed.) Question Viewer ▸ gin MLM Incorrec
Bob makes his first $1,700 deposit into an IRA earning 7.4% compounded annually on his 24th birthday and his last $1,700 deposit on his 41st birthday (18 equal deposits in all). With no additional deposits, the money in the IRA continues to earn 7.4% interest compounded annually until Bob retires on his 65th birthday. How much is in the IRA when Bob retires? The amount in the IRA when Bob retires is $ (Round to the nearest cent as needed.)
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?
Michael writtey has been investing in his Roth IRA retirement account for 20 years. Two years ago, his account was worth $215,658. After losing 1/3 of its original value, it then gained 1/2 of its new value back. What is the current value of his Roth IRA?
Noah invests $600 at the end of each quarter for 30 years in an account paying 5.64% interest compounded quarterly and then he retires. Suppose that he was in the 15% bracket when the deposits were made and interest was earned. Suppose his tax bracket is now 33% in retirement. Find the current after-tax value of Noah's account if it was set-up as (i) a Traditional Individual Retirement Account (IRA): $ (ii)a Roth Individual Retirement Account (Roth-IRA): $
Bill makes annual deposits of $1600 to an an IRA earning 11% compounded annually for 20 years. At the end of the 20 years Bill retires. a) What was the value of his IRA at the end of 20 years? Answer = $ b) What is the largest amount Bill may withdraw annually for the next 19 years at 11 % compounded annually? Answer = $
1. Louisa is 72 years old. She purchased an annuity in January of 2021 that will pay her $1,500 per month for the rest of her life. Louisa paid $200,000 for the annuity. What is the expected value of Louisa’s annuity? a. $18,000 b. $21,900 c. $200,000 d. $262,800 e. Not able to be determined from this information
David, age 39, is starting his traditional IRA contributions immediately. He will invest $4,000 at the beginning of eachyear for the next 20 years. Assuming he earns 7.5% compounded annually on these funds, how much will David havein his IRA after the 20 years? A. $186,210 B. $184,392 C. $68,464 D. $173,219
Mr. Bearer may choose to take a lump-sum payment of $25,292.8 now from his insurance policy or an annuity of $3,200 annually as long as he lives. How long must Mr. Bearer anticipate living for the annuity to be indifferent to the lump sum if interest rate is 8%? a. 13 years b.15 years c. 11 years d. 9 years
(a) Patty Stacey deposits $1200 at the end of each of 5 years in an IRA. If she leaves the money that has accumulated in the IRA account for 25 additional years, how much is in her account at the end of the 30-year period? Assume an interest rate of 7%, compounded annually. (Round your answer to the nearest cent.) $ b) Suppose that Patty's husband delays starting an IRA for the first 10 years he works but then makes $1200 deposits at the end of each of the next 15 years. If the interest rate is 7%, compounded annually, and if he leaves the money in his account for 5 additional years, how much will be in his account at the end of the 30-year period? (Round your answer to the nearest cent.) (note: the answer i got last time was $52531.30 ended up being incorrect)$

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