1-You have $46,605.46 in a brokerage account, and you plan to deposit an additional $3,000 at...

1-You have $46,605.46 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $290,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.

2- You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 12% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places.

Monthly loan payment: $

EAR: %

Expert Solution

jeff jeffy answered 6 months ago

You have $51,106.03 in a brokerage account, and you plan to deposit an additional $3,000 at...

You have $51,106.03 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $250,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal?

You have $78,653.11 in a brokerage account, and you plan to deposit an additional $3,000 at...

You have $78,653.11 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $280,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.

You have $75,148.17 in a brokerage account, and you plan todeposit an additional $3,000 at...

You have $75,148.17 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $270,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.

1. You have $10,026.61 in a brokerage account, and you plan to deposit an additional $5,000...

1. You have $10,026.61 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $220,000. You expect to earn 11% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations. ____ years 2. An investment will pay $150 at the end of each of the next 3 years, $250 at...

You have $7,933.71 in a brokerage account, and you plan to deposit an additional $4,000 at...

You have $7,933.71 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $200,000. You expect to earn 14% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.

You have $30,637.17 in a brokerage account, and you plan to deposit an additional $4,000 at...

You have $30,637.17 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $270,000. You expect to earn 13% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations. ____ years

You have $7,115.21 in a brokerage account, and you plan to deposit an additional $5,000 at...

You have $7,115.21 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $270,000. You expect to earn 14% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations.

You have $32,827.07 in a brokerage account, and you plan to deposit an additional $4,000 at...

You have $32,827.07 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $290,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.

You have 42,180.53 in a brokerage account, and you plan to deposit and additional 5,000 at...

You have 42,180.53 in a brokerage account, and you plan to deposit and additional 5,000 at the end of every future year until your account total 250,000. you expect to earn 12% annually on the account. How many years will it take to reach your goal?

You have $4,311.89 in a brokerage account, and you plan to deposit an additional $5,000 at...

You have $4,311.89 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $210,000. You expect to earn 12% annually on the account. How many years will it take to reach your goal?

Question