Twenty years ahead of her retirement, Kelly opened a savings account that earns 5% interest rate compounded continuously, and she contributed to this account at the annual rate of $1200 per year for 20 years. Ten years ahead of his retirement, John opened a similar savings account that earns 5% interest rate compounded continuously and decided to double the annual rate of contribution to $2400 per year for 10 years. Who has more money in his or her savings account at retirement?

Eugene began to save for his retirement at age 27, and for 14 years he put $ 275 per month into an ordinary annuity at an annual interest rate of 5% compounded monthly. After the 14 years, Eugene was unable to make the monthly contribution of $ 275, so he moved the money from the annuity into another account that earned 5% interest compounded monthly. He left the money in this account for 24 years until he was ready to retire. How much money did he have for retirement? Retirement amount =  If Eugene had waited until he was 42 years old to start saving for retirement and then decided to put money into an ordinary annuity for 23 years earning 5% interest compounded monthly, what monthly payment would he have to make to accumulate the same amount for retirement as you found in the first part of the question? Retirement amount =

Eugene began to save for his retirement at age 24, and for 12 years he put $ 375 per month into an ordinary annuity at an annual interest rate of 9% compounded monthly. After the 12 years, Eugene was unable to make the monthly contribution of $ 375, so he moved the money from the annuity into another account that earned 5% interest compounded monthly. He left the money in this account for 29 years until he was ready to retire. How much money did he have for retirement?

Kathryn, believing that life begins at 40, decided to retire and start enjoying life ar age of 40. She wishes to have upon her retirement a sum of P5M. On her 21st birthday, she deposited and increased her deposit by 15% each year until she will be 40. if the money is deposited in a super savings account which earns 15% compounded annually, how much was her initial deposit?

Two people plan to invest $50,000. Matt is going to invest it in one lump sum and leave it in the account for 25 years to use for retirement. Sarah is going to invest $2000 per year for 25 years and will also use the money in the account for retirement.     Is it reasonable to expect that Matt will have more money in his account than Sarah does in 25 years if both accounts earn the same interest?

Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?

Bill is twenty-five years from retirement; in order to retire, Bill needs $500,000 in his savings account when he retires in order to maintain his current standard of living. If Bill has $100,000 in his savings account right now, and the account earns 5% annually (compounded continuously), how much does Bill need to save each year to reach his goal? (Assume that Bill continuously deposits this annual sum into his savings account.)

Monique contributed ​$500.00 every month into an RRSP for 15 years. What nominal annual rate of interest will the RRSP earn if the balance in Monique's account just after she made her last contribution was $200,000.00

Gilberto opened a savings account for his daughter and deposited $800 on the day she was born. Each year on her birthday, he deposited another $800. If the account pays 10.5% interest, compounded annually, how much is in the account at the end of the day on her 14th birthday? At the end of the day on her 14th birthday, the amount in the account is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent if needed.)

Suppose your friend is celebrating her 35th birthday today and wants to start saving for her anticipated retirement at age 65. She wants to be able to withdraw $80,000 from her savings account on each birthday for 15 years following her retirement; the first withdrawal will be on her 66th birthday. Your friend intends to invest her money in the local credit union, which offers 9 percent interest per year. She wants to make equal annual payments on each birthday into the account established at the credit union for her retirement fund.    If she starts making these deposits on her 36th birthday and continues to make deposits until she is 65 (the last deposit will be on her 65th birthday), what amount must she deposit annually to be able to make the desired withdrawals at retirement?   b) Suppose your friend has just inherited a large sum of money. Rather than making equal annual payments, she has decided to make one lump-sum payment on her 35th birthday to cover her retirement needs.…