Rick deposited $3,300 into an account 14 years ago for an emergency fund. Today, that account is worth $5,930. What annual rate of return did Rick earn on this account assuming no other deposits and no withdrawals?
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- Justin P. deposited $2000 into an account 5 years ago. Simple interest was paid on the account. He has just withdrawn $2876. What interest rate did he earn on the account?Molly deposits $2,500 in her checking account today. Her checking account pays interest of 2.5% compounded annually. Assuming Molly does not withdraw any funds and does not deposit any additional funds, how much will be in her account in 23 years?Seth starts an IRA (Individual Retirement Account) at the age of 3232 to save for retirement. He deposits $450$450 each month. Upon retirement at the age of 6565, his retirement savings is $488,809.01$488,809.01. Determine the amount of money Seth deposited over the length of the investment and how much he made in interest upon retirement.
- Dick Eckel recently set up a TDA to save for his retirement. He arranged to have $135 taken out of each of his biweekly checks; it will earn Interest. He just had his twenty-ninth birthday, and his ordinary annuity comes to term when he is 65. Find the following. (Round your answers to the nearest cent.) (a) The future value of the account (b) Dick's total contribution to the account (c) The total interest %24 Need Help? Read WatchChase starts an IRA (Individual Retirement Account) at the age of 30 to save for retirement. He deposits $400 each month. Upon retirement at the age of 65 , his retirement savings is $558,638.87 . Determine the amount of money Chase deposited over the length of the investment and how much he made in interest upon retirement.Avril deposited $800 in his bank at 1.5% for five years. Use the simple interest formula to calculate the amount of interest Avril will earn. Calculate the future value of her deposit.
- Victor has been consistently withdrawing money from his savings account for several years. If he withdrew $19500.0 every year for 7 years, and interest rate was 0.075 compounded annually, what was his original investment at time zero to enable these payments. At the end of 7 years his account balance was zero. Your Answer:Supposed 30 years ago your mother deposited $1,400 in an investment account earning 6.0% per year. After 9 years she withdrew $434. There were no additional deposits or withdrawals from the account. Obtain today's value of the investment account.Thirty years ago, your parents opened an investment account with a single deposit of $2,000. They never added any additional money to this account. Today, the account is worth $26,905. What average annual rate of return did they earn on their investment? 8.90 percent 8.96 percent 9.05 percent 9.12 percent 9.24 percent
- Your grandmother deposited $10,000 in an investment account on the day you were born to help pay the tuition when you go to college. If the account was worth $50,000 seventeen years after she made the deposit, what was the rate of return on the account?Anthony closes out his account in which he deposited $500 five years ago at an interest rate of 5%. Mark closes out his account in which he deposited $500 ten years ago at an interest rate of 5%. Who had more in their account? About how much more did he have?Dick Eckel recently set up a TDA to save for his retirement. He arranged to have $135 taken out of each of his biweekly checks; it will earn 9 7/8% interest. He just had his twenty-ninth birthday, and his ordinary annuity comes to term when he is 65. Find the following. (a) The future value of the account$ (b) Dick's total contribution to the account$ (c) The total interest$