Jake Werkheiser decides to invest $8000 in an IRA at the end of each year for the next 6 years. If he makes these investments, and if the certificates pay 8%, compounded annually, how much will he have at the end of the 6 years? (Round
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- IRA Anne Wright decides to invest $4000 in an IRACD at the end of each year for 10 years. If she makesthese payments and the certificates all pay 6%,compounded annually, how much will she have atthe end of the 10 years?Roger decides to start an investment account by depositing $5,000 today. In one year he will invest $500. He plans to make annual investments that increase by $100 each year ($600 in year two, $700 in year three, etc.). If he earns 9% on his investment, what will his account be worth 6 years from today, assuming he compounds annuallyStarling wants to retire with $2, 110,000 in his retirement account exactly 41 years from today. He will make annual deposits at the end of each year to fund his retirement account. If he can earn 9.73 percent per year, how much must he deposit each year? ** PLS EXPLAIN HOW TO SOLVE USING A FINANCIAL CALCULATOR
- Dean Gooch is planning for his retirement, so he is setting up a payout annuity with his bank. He wishes to receive a payout of $1,500 per month for twenty-five years. (a) How much money must he deposit if his money earns 7.3% interest compounded monthly? (Round your answer to the nearest cent.) (b) Find the total amount that Dean will receive from his payout annuity.Bob purchases an annuity that will pay him $10,000 a year for the next 15 years starting a year from now. Assuming a 5% annual interest rate, what is the value of this annuity? Choose the closes. a) $150,000 b) $103,797 c) $124,622 d) $77,217Jabari is planning for his retirement in 5 years’ time. He plans to deposit $200,000immediately into an investment plan that promises 11% annually. He will deposit$30,000 and the end of each of the next five years.i. What will be the value of the investment when Jabari retires in 5 years?
- Ryan plans to deposit his annual bonus into a savings account that pays 3% interest compounded annually. The size of his bonus increases by $1000 each year, and the initial bonus amount he will deposit at the end of year 1 is $2500. A) Determine how much will be in the account after the 6th deposit? B) What’s the future value if he only plans to deposit his annual bonus for 8 years? C) What’s the future value if he only plans to deposit his annual bonus for 8 years, but also plans to skip the deposits at the end of years 3 and 6?Ken Francis is offered the possibility of investing $2,745 today; in return, he would receive $10,000 after 15 years. What is the annual rate of interest for this investment?Blushing Rose invests $1,000 into her Roth IRA. She can increase thisinvestment annually by $1,000 until she reaches the $5,000 annual contributionlimit. She will then invest $5,000 per year at the beginning of eachyear for 30 years. How much will Blushing have in her IRA at the end of34 years if her IRA earns 8 percent?
- Harry Taylor plans to pay an ordinary annuity of $6,000 annually for ten years so he can take a year's sabbatical to study for a master's degree in business. The annual rate of interest is 2.9%. How much will Harry have at the end of three years? How much interest will he earn on the investment after three years? At the end of three years Harry will have $ (Round to the nearest cent as needed.) He will earn S interest on the investment after three years. (Round to the nearest cent as needed.)9. Daniel Plans to fund his individual retirement account, beginning at the end of each year with 20 annual deposits of P2,000, which will continue for the next 20 years. If he can earn an annual compound interest rate of 8 percent on his deposits, what will be the amount in the account upon retirement?How many payments can Gabriel expect to receive in retirement? He expects to earn 7.04 percent in his retirement account. He plans to save $22,600.00 per year in his retirement account for 5 years, with his first savings contribution to his retirement account expected today. In retirement, Gabriel plans to withdraw $30,500.00 per year for as long as he can, with his first retirement payment received in 5 years.(Round the value to decimal places)