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 35 years. Your account earns 10% interest. How much would you need to deposit in the account each month?
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- You have $400,000 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? Sarrow_forwardYou will deposit $112 from each of your bi-weekly paychecks. You think that you can earn an interest rate of 8.35%. How much will you have in 42 years? show work step by step and fomular. Answer:arrow_forwardYou would like to have 950,000 when you retire in 30 years. How much should you invest each quarter if you can earn a rate of 4.8% compounded quarterly? How much should you deposit each quarter? How much total money will you put into the account? How much total interest will you earn?arrow_forward
- Suppose you want to save $220,000 for retirement. You will do so by putting monthly deposits into an account that gets 5% interest compounded monthly for 30 years. What should your monthly deposits be? Round your answer to the nearest cent and include units. Make sure you show the formula you used and the values you filled in.arrow_forwardYou want to be able to withdraw $25,000 each year for 30 years. Your account earns 8% interest.a) How much do you need in your account at the beginning?$b) How much total money will you pull out of the account?$c) How much of that money is interest?arrow_forwardYou currently have $4,395.00 in a retirement Savings account that earns an annual return of 8.02%. You want to retire in 46.0 years with 1,000,000. How much more do you need to Save at the end of every year to reach your retirement goal?arrow_forward
- Suppose you want to have $400,000 for retirement in 10 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? S b) How much interest will you earn? Sarrow_forwardIf you want to have $60,000 in 8 years, how much do you need to deposit in the bank today if the account pays an interest rate of 9%?arrow_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_forward
- Suppose 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_forwardHow 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_forwardyou want to have $10,000 in 5 years and can earn 3.2% annually. How much must you deposit today to achieve your goal?arrow_forward
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