Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Suppose you want to have $400,000 for retirement in 30 years. Your account earns 5% interest. How much would you need to deposit in the account each month?
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- if you have $100 in a savings account and the interest rate is 10% per year and you never withdraw or deposit money, how much will you have in the account after: one year, two yearsarrow_forwardSuppose you want to have $600, 000 for retirement in 15 years. Your account earns 9% interest. Feel free to use the Online Basic Financial Calculator a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $arrow_forwardSuppose you want to have $800,000.00 for retirement in 30 years. You plan to make regular monthly deposits into an account earning 5% interest compounded monthly.arrow_forward
- How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank pays 5 percent per year.arrow_forwardIf you deposit $300 now into a savings account and increase your deposits by 10% each month. How much will you have after three years with a 1% monthly interest rate.arrow_forwardYou want to be able to withdraw $45,000 each year for 15 years. Your account earns 6% interest. a) How much do you need in your account at the beginning? W b) How much total money will you pull out of the account? c) How much of that money is interest?arrow_forward
- You have $500,000 saved for retirement. Your account earns 6% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 20 years?arrow_forwardYou have $500,000 saved for retirement. Your account earns 5.2% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years? Round your answer to the nearest cent as needed.arrow_forwardYou want to be able to withdraw $25,000 each year for 20 years. Your account earns 10% interest. A.How much do you need in your account at the beginning? b) How much total money will you pull out of the account? c) How much of that money is interest?arrow_forward
- Suppose you put $ 600 a month for retirement into an annuity earning 7.5% compounded monthly. If you need $ 550000 to retire, in how many years will you be able to retire?arrow_forwardIf you deposit $100 today and $200 in two years in an account that earns 10% annual interest, how much would you have after 10 years? * I assume the question to be simple interest?arrow_forward
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