Q: You want to be able to withdraw $40,000 from your account each year for 15 years after you retire.…
A: The Present Value of this withdrawal is computed as follows: Withdrawal = $40,000 Time period = 15…
Q: Henry would like to have a retirement income of $3,000 per month (month-end payments). How much must…
A: We need to use present value of ordinary annuity(payment due at end of period) formula to solve this…
Q: How much money must she deposit at the end of each quarter?
A: Payment per period can be calculated using PMT function in excel. PMT(rate, nper, pv, [fv],…
Q: You deposit $10,000 in a retirement account today at 5.8% interest with annual compounding. How much…
A: Future value = Present Value×[1+Periodic interest rate]^n Where, n = number of periods = 28…
Q: If she starts making deposit amounts in one year and her deposits increase at the inflation rate of…
A: Inflation: The Wholesale Price Index's (WPI) annual percentage change in value is known as…
Q: How much money would you need to have at retirement so that you can withdraw $50,000 a year for 20…
A: Present value of annuity concept is required to use in this case. Present value of annuity is the…
Q: amount to the plan at the end of every year that you work. How much do you need to contribute each…
A: Step-1:Calculate the present value at the age of 65 of withdrawl of cash after retirement to 100th…
Q: retirement. If Billy gets paid every other week, how much of each paycheck does he need to save, in
A: Retirement corpus is created by a salaried person to fund his expenses after the retirement. A…
Q: Suppose a child's parents decide to make annual deposits to a savings account, making the first…
A: The present value of the cash flow is the current worth of a cash flow at a certain rate of interest…
Q: If your monthly payments are $173, how much will you have in your retirement fund after 40 years? $…
A: Future value of annuity Annuity is a series of equal payment at equal interval over a specified…
Q: if you are 18 years old, deposit $5000 each year into a traditional IRA for 52 years, at 6% interest…
A: Annuity, A = $ 5,000Interest rate per year, R = 6%Period, N = 52 years
Q: Calculate how much you will have to save each month between now and then to have $300,000 in your…
A: Calculate the monthly saved amount as follows:
Q: Today is your birthday and you decide to start saving for your retirement. You will retire on your…
A: Solution- Amount to be deposited every year=$700000Interest for 1 year…
Q: How much interest did you gain if you invested in a retirement plan with a rate of 2.5% over 42…
A: First we will compute the future value of retirement corpus with monthly deposit. And then we will…
Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…
A: Given information: Annual payment is $1,100 Interest rate is 11% compounded annually Retirement age…
Q: Determine the annual retirement amount that he can withdraw forever starting next year (year 26), if…
A: This problem involves the application of annuity and perpetuity. The present value of a perpetual…
Q: You estimate you need to supplement your social security payments with monthly withdrawals of…
A: Given: Monthly withdrawal = $3,420 Interest rate = 6.9% So, monthly interest rate = 0.069/12 = 0.58%…
Q: You deposit $5000 each year into your retirement account, starting in one year. If these funds earn…
A: Annual deposit = $ 5000 Annual interest rate = 5% Number of annual deposits = 27
Q: How much must you deposit each year into your retirement account starting now and continuing through…
A: Monthly deposit It is the minimum deposit amount required to pay in an account each month by the…
Q: You estimate you need to supplement your social security payments with monthly withdrawals of…
A: The question is based on the concept present value of annuity payment Formula as, Pv=pmt*1-(1+r)-nr
Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…
A: Future value of a regular annuity can be computed by using the following formula: Here, Future…
Q: How much do you have to deposit at the end of each year if you need $ 2856 in 4 years, assuming k =…
A: The Amount to be deposited each year for 4 years at the end of each year shall be computed as above.
Q: eposit $220 at the beginning of each of the 15 years, using interest at 7% per year, how much he…
A: Given information :
Q: amount to the plan at the end of every year that you work. How much do you need to contribute each…
A: Step-1:Calculate the present value at the age of 65 of withdrawl of cash after retirement to 100th…
Q: How long would it take for Nico to save an adequate amount for retirement if he deposits R40,000 per…
A: Annual deposit (P) = R40,000 Interest rate (r) = 12% Accumulated amount (FV) = R1,000,000 Period in…
Q: You want to be able to withdraw $45,000 from your account each year for 20 years after you retire.…
A: After retirement: payment amount = $45000 number of year = 20 rate of interest = 7% Before…
Q: HOW MUCH SHOULD YOU DEPOSIT AT THE END OF EACH MONTH INTO A INVESTMENT ACCOUNT THAT PAYS 8% COMPOUND…
A: Calculation of Amount of Deposits and Total Interest:The amount of deposits is 338.49 and total…
Q: how much interest will i earn on $200 deposited in an account that pays 5.75% interest annually if i…
A: Given that: Initial deposit amount = $200 Interest rate = 5.75% Period = 1 year
Q: You want to be able to withdraw $50,000 from your account each year for 25 years after you retire.…
A: Here, Annual amount to withdraw = $50,000 Time in years after retirement = 25 years Time to…
Q: 6% a year on your savings account, how much do you need to set aside at the end of each year for the…
A: Future Value of Annuity: It is the future worth of the cash flow stream computed at a specific…
Q: You deposit $5000 each year into your retirement account, starting in one year. If these funds earn…
A: Answer: Following information are given: Annual deposit = $5000 Rate = 5% Time ( no of periods)…
Q: At age 30 you deposit $200 at the end of each month into an annuity that pay 3.5% interest…
A: Given information Monthly deposits : $200 Interest : 3.5% Time period : 66-30=36 years
Q: If you deposit $250 each month into an individual retirement account (IRA) that earns 4.8% interest…
A: We can use advance calculators or Excel to find the future value asked in the question.
Q: What amount must I deposit in the bank to receive $6,000 in twelve years if my account pays 3.5%…
A: Interest is an additional amount which is received over the period at fixed rate. Depositor get sum…
Q: a) Find the amount of money you have accumulated in the annuity over the first 30 years: b) How much…
A: Information Provided: Term = 30 years Payment = $500 Interest rate = 6.788% Withdrawals = 35 years
Q: How much money should you deposit every year in your savings account starting 3 years from now at 7…
A: Given: Particulars Amount Future value (FV) 8000 Years 3 Ending deposit 10 Interest rate…
Q: The amount of money the couple will live on annually in retirement is The additional amount of…
A: They live on 65% of 90000 annual income So amount will be 90000*65% = 58500 Saved for retirement is…
Q: How much must you deposit each year into your retirement account starting now and continuing through…
A:
Q: How much must you deposit each year into your retirement account starting now and continuing through…
A: The current value of a forthcoming sum of money or series of payments with a predetermined rate of…
Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…
A: In the given question we need to compute the amount which we will have at the age of age 65 if we…
Q: ou decide to replace your income of $70,000 a year in retirement for 30 years. How much do you need…
A: PV is the current worth of cash flows that are expected to occur in the future.
Q: s. How much is his monthly payment? How much total interest will he pay?
A: Loan payments: These are payments made by the borrower to the lender for amortizing the loan…
Q: If Rex wants to be a millionaire by the time he retires (45 years from now), how much does he need…
A: Present Value: It represents the present worth of the future amount and is computed by the…
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
- A Question 11 You deposit $5000 each year into your retirement account, starting in one year. If these funds earn an average of 5% per year over the 27 years until your retirement, what will be the value of your retirement account upon retirement? Your Answer: Answer Hide hint for Question 11 NOTICE THAT THE ONLINE FINANCIAL CALCULATOR HAS THE BUTTON FOR PAYMENTS MADE AT THE END OF THE PERIOD. THIS IS THE DEFAULT OF THE CALCULATOR, AND THE WORDS 'STARTING IN ONE YEAR' ARE JUST CONFIRMATION THAT YOU WANT THAT END OF THE PERIOD BUTTON SELECTED.Téll me what you want to do Aa - 21 T AaBbCcDc AaBbCcDc AaBbC AaB A - - A- TNormal 1 No Spac. Heading 1 Heas Paragraph Styles 4. You deposit $500 eachmonth into an account earning 3% interest compoundedmonthly. a) How much will you have in the account in 13 years? b) How much total money will you put into the account? c) How much total interest will you earn? retirement in 30 vears. Your account earns 8% inte4 AMP we 15a.eju/ρωποduos Safari File Edit View History Bookmarks Window Help $ Saving Money - 22/SU INTENSIVE QUANT REASONING (105A-900) Assume you put $600 per month into a retirement account for 14 years, and the account has an APR of 3.02% compounded monthly. $ $ What is the account balance at the end of the 14 years? Round your answer to the nearest cent. How much of the money in the account at the end of the 14 years is your personal investment, meaning that the money came directly from you? webassign.net How much of the money in the account at the end of the 14 years is interest? What percentage of the account balance after 14 years is interest? Round your percentage to one decimal place. % "p WWA Finance 1 -Saving Money and Earning Interest - 22/SU INTENSIVE QUANT REASONING(1054-900), Sum.... . .- Thu Ju Hint: The percentage of interest in the account is equal to the amount of the account balance that is interest divided by the base account balance. Multiply that result by 100…
- webwork / mat110e_oncampus_f/ finance.set.3/6 Finance.set.3: Problem 6 Previous Problem Problem List Next Problem Eugene began to save for his retirement at age 31, and for 15 years he put $ 425 per month into an ordinary annuity at an annual interest rate of 9% compounded monthly. After the 15 years, Eugene was unable to make the monthly contribution of $ 425, so he moved the money from the annuity into another account that earned 9% interest compounded monthly. He left the money in this account for 19 years until he was ready to retire. How much money did he have for retirement? Retirement amount = If Eugene had waited until he was 43 years old to start saving for retirement and then decided to put money into an ordinary annuity for 22 years earning 9% interest compounded monthly, what monthly payment would he have to make to accumulate the same amount for 2. retirement as you found in the first part of the question? Retirement amount = 3.Excel Online Activity: Required annuity payments 1 Question 1 0/10 Submit HVideo Excel Online Structured Activity: Required annuity payments Your father is 50 years old and will retire in 10 years. He expects to live for 25 years after he retires, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $60,000 has today. (The real value of his retirement income will decline annually after he retires.) His retirement income will begin the day he retires, 10 years from today, at which time he will receive 24 additional annual payments. Annual inflation is expected to be 4%. He currently has $70,000 saved, and he expects to earn 9% annually on his savings. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Qoen spreadsheet How much must he save during each of the next 10 years (end-of-year deposits) to meet his retirement goal? Do…Calculate the principal portion of the second payment on the required on an amortized loan annual interest rate of 8.25% for 20 years. finance the purchase of a new home priced at $99,757.57 assuming the O A. $165.30 O B. $174.17 OC. $175.30 O D. $164.17 Click to select your answer. tUs /- MacBook Air 888 F4 14 F7 F1 F3 FS F6 II 4) F9 F10 F11 @ 2$ 4 23 & 2 6. 0. R Y P. S D F H. J K B alt command +
- • Question 6 You deposit $500 each month into an account earning 3% interest compounded monthly. Round to the nearest cent as needed. a) How much will you have in the account in 25 years? $4 b) How much total money will you put into the account? $4 C) How much total interest will you earn? Question Help: DVideo 1 D Video 2 I Calculator Submit Question H O O I Pn* 00 Problem Set 1: Finance Score: 19.8/50 8/20 answered Question 10 You deposit $3000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 20 years? no. Question Help: D Video 1 D Video 2 Submit Question MacBook Air 08 F3 DD F1 F2 F4 & i 1 # 2$ 2 4. 5. R A HPart 1: Data Tables You have decided to start saving for retirement. You plan to work for 35 years and then retire. Requirements: Complete each requirement on a separate worksheet. 1. Calculate the amount of money that will be in your Roth IRA account when you retire if you: a. Save $3,500 at the end of each year. b. Earn 7% interest each year. c. The answer to requirement I must be calculated using a single formula. 2. Create a one-input Data Table that calculates the value of your Roth IRA when you retire if the annual savings amount is different than $3,500 per year. a. Use the following annual end of the year annual savings amounts as the column data in the Data Table: $500, $1,000, $2,000, $3,000, $3,500, $4,000, and $5,000. b. The annual interest rate is still 7% each year. 3. Create a two-input Data Table that calculates the value of your Roth IRA when you retire for different annual interest rates and different annual savings amounts. a. Use the following annual interest rates…
- Question Help ▼ You plan to deposit $800 in a bank account now and $500 at the end of the year. If the account earns 3% interest per year, what will be the balance in the account right after you make the second deposit? The balance in the account right after you make the second deposit will be $ (Round to the nearest dollar.) Enter your answer in the answer box.Question 11 You deposit $5000 each year into your retirement account, starting in one year. If these funds earn an average of 5% per year over the 27 years until your retirement, what will be the value of your retirement account upon retirement? Your Answer: AnswerQuestion 1 Q1(a) Create simple examples to illustrate the following concepts. i. Time value of money ii. Effective interest Sinking Fund 111. iv. Amortized loan Q1(b) Assuming you will be able to deposit GHC6000 at the end of each of the next four years in a bank account paying 9% interest. You currently have GHC6000 in the account. How much will you have in four years? Q1(c) After carefully going over your budget, you have determined you can afford to pay GHC854 per month toward a new car. You call up your local bank and find out that the going rate is 1% per month for 48 months. How much can you borrow? Q1(d) Suppose, a business takes out a GHC7000, 7-year loan at 9%. If the loan agreement calls for the borrower to pay the interest on the loan balance each year and to reduce the loan balance each year by GHC 1000. How would the loan repayment be? Illustrate with the aid of a table.
