Question
In: Finance
Starting at the end of this year, you plan to make annual deposits of $6,000 for...
Starting at the end of this year, you plan to make annual deposits of $6,000 for 4 years followed by annual deposits of $10,000 for the following 5 years. The deposits earn interest of 3.5%. What will the account balance be at the end of 13 years?
|
a) $89,136 |
||
|
b) $92,507 |
||
|
c) $96,003 |
||
|
d) $99,628 |
||
|
e) $103,386 |
Solutions
jeff jeffy answered 2 years agoRelated Solutions
Starting at the end of this year, you plan to make annual deposits of $5,000 for...
Starting at the end of this year, you plan to make annual
deposits of $5,000 for the next 10 years followed by deposits of
$13,000 for the following 10 years. The deposits earn interest of
4.6%. What will the account balance be by the end of 33 years?
Round to the nearest cent
You are interested in buying a house and renting it out. You
expect to receive a monthly net income of $1450 from rent. You then
expect to...
Starting at the end of this year you plan to make annual deposit the $5000 for the next 10 years followed by deposits of $13,000 for the following 10 years the deposits are in interest of 4.4%
Starting at the end of this year you plan to make annual deposit
the $5000 for the next 10 years followed by deposits of $13,000 for
the following 10 years the deposits are in interest of 4.4%, what
will the account balance be by the end of 34 years round to the
nearest cent?
You plan to make 15 deposits at the end of each year in an account that...
You plan to make 15 deposits at the end of each year in an
account that pays 6% compound interest annually. If the first
deposit is $ 1,000 and subsequently 500 are added each year to the
amount deposited the previous year (1000, 1500, ...), the amount of
the account at the end of the 15 years will be close to:
a. $71,550
b. $97,777
c. $92,242
d. $87,021
e.No correct answer is provided.
A series of 10 end-of-year deposits is made that begins with$6,000 at the end of...
A series of 10 end-of-year deposits is made that begins with
$6,000 at the end of year 1 and decreases at the rate of $300 per
year with 11% interest.What amount could be withdrawn at t = 10? $
John Decides to make 10 end-of year deposits of $10,000 into a fund starting one year...
John Decides to make 10 end-of year deposits of $10,000 into a
fund starting one year from now. He is planning to withdraw $20,000
each year for 5 years, starting one year after the last deposit.
The fund pays 8% per year compounded annually. Determine the
balance in the fund immediately after the last withdrawal.
You plan to make annual deposits of $130 for the next 6 years, followed by annual...
You plan to make annual deposits of $130 for the next 6 years,
followed by annual deposits of $1,112 for the following 6 years.
The deposits earn interest of 4.2%. What will the account balance
be by the end of year 27? Round to the nearest cent.
Suppose you plan to save $6,000 at the end of each coming year for the next...
Suppose you plan to save $6,000 at the end of each coming year
for the next 32 years from now for retirement. The interest rate is
4%. How much will you have 32 years from now?
Given that you will have $376208.81 saved on the day you retire,
how much will you be able to spend each year starting at the end of
the first year of retirement, if you want to spend in
perpetuity?
You will make deposits of $1,000 at the end of each year for 40 years in...
You will make deposits of $1,000 at the end of each year for 40
years in your investment account. After the 40th deposit, you will
immediately withdraw all money from the account to buy a retirement
annuity for 35 years with equal annual payments (paid at year-end)
from a life insurance company. If the annual rate of return over
the entire period (75 years) is 5%, how much is the annual payment
from the insurance company?
The amount of your...
You plan on starting a retirement fund at the end of the year. The fund earns...
You plan on starting a retirement fund at the end of the year.
The fund earns 11% per year. You will invest X dollars into the
fund. You plan to retire at the end of 40 years from now. Once you
retire, you will take your entire retirement fund and transfer it
into a safer investment that will only earn 5% interest per year
compounded monthly. You will need $4000 per month for 30 years
during your retirement to sustain...
You plan on starting a retirement fund at the end of the year. The fund earns...
You plan on starting a retirement fund at the end of the year.
The fund earns 11% per year. You will invest X dollars into the
fund. You plan to retire at the end of 40 years from now. Once you
retire, you will take your entire retirement fund and transfer it
into a safer investment that will only earn 5% interest per year
compounded monthly. You will need $4000 per month for 30 years
during your retirement to sustain...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Write a c++ program to load two column of numbers, do arithmetic operations to the data...
- A forklift can be leased for $3000 per month, with maintenance and insurance included. Alternatively, the...
- Assume that I can borrow money at a rate of 10% per year, but that I...
- The newly elected president Susan implements some policies with the intention of boosting income. She succeeds...
- Multiple Production Department Factory Overhead Rates The total factory overhead for Urban Styles, Inc. is budgeted...
- using this code under, I want when the user input only letter q an error message...
- 1. Keeping in mind the various definitions of operating system, consider whether the operating system should...
ADVERTISEMENT