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. 49
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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?
43
45
47
49
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- Jeni 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. $149,226.96Destiny 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 correctSara 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. $157,300
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- Jane wants to retire with $2,000,000 in her retirement account exactly 35 years from today. If she thinks she can earn an interest rate of 10. percent compounded monthly, how much must she deposit each month to fund her retirement? $432.83 O $493,32 O $526.78 $582.32After retiring, Sofía wants to be able to withdraw $8,500.00 every quarter from her account for 33 years. Her account earns 7% interest compounded quarterly.How much does Sofía need in her account when she retires? Sofía needs $________ in her account when she retires. How much total money will Sofía pull out of her account? In total$_______ Sofía will pull out from her account. How much of that money is interest? The amount of money that is interest is $________ .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
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