How much would you need to invest each year in an account earning 8.5% in order...

How much would you need to invest each year in an account earning 8.5% in order to have $1,000,000 thirty-five years from now? Show your work.

Expert Solution

FROM THE ABOVE EXCEL WORK SHEET IT IS FOUND THAT BY INVESTING $4782.80 ,The value $ 1000000 can be achieved.

Colby Messinger answered 2 years ago

How much would you need to deposit in an account each month in order to have...

How much would you need to deposit in an account each month in order to have $30,000 in the account in 6 years? Assume the account earns 8% annual interest compounded monthly.

How much would you need to deposit in an account now in order to have $6000...

How much would you need to deposit in an account now in order to have $6000 in the account in 5 years? Assume the account earns 2% interest compounded daily. $ You decide to contribute to a mutual fund that averages 3.6% return per year. If you contribute $225 quarterly. Round all answers to the nearest cent as needed. a) How much will be in the account after 15 years? $ b) How much of this money did you deposit?...

You deposit $3000 each year into an account earning 3% interest compounded annually. How much will...

You deposit $3000 each year into an account earning 3% interest compounded annually. How much will you have in the account in 25 years? $

If you invest $1,000 today into a deposit account earning 5.75% interest compounded monthly, how much...

If you invest $1,000 today into a deposit account earning 5.75% interest compounded monthly, how much would your investment be worth in 10 years?

If you invest $5,000 today into a deposit account earning 6.25% interest compounded monthly, how much...

If you invest $5,000 today into a deposit account earning 6.25% interest compounded monthly, how much would your investment be worth in 5 years?

1. You deposit $3000 each year into an account earning 7% interest compounded annually. How much...

1. You deposit $3000 each year into an account earning 7% interest compounded annually. How much will you have in the account in 25 years? 2. Suppose you want to have $600,000 for retirement in 25 years. Your account earns 7% interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn? 3. You have $400,000 saved for retirement. Your account earns 7% interest. How much will you be able...

How much would you have to invest today to receive $5000 each year, at the beginning...

How much would you have to invest today to receive $5000 each year, at the beginning for 10 years at 8 percent?

You deposit $200 each month into an account earning 4% interestcompounded monthly.a) How much...

You deposit $200 each month into an account earning 4% interest compounded monthly. a) How much will you have in the account in 30 years? $ b) How much total money will you put into the account? $ c) How much total interest will you earn?

you deposit 400$ each month into an account earning 2% interest compounded monthly. a) how much...

you deposit 400$ each month into an account earning 2% interest compounded monthly. a) how much will you have in the account in 35 years? b) how much money will you put into the account? c) how much total interest will you earn?

9. How much would you need to invest today for your child to have $30,000 for...

9. How much would you need to invest today for your child to have $30,000 for his/her college education? Assume your child is currently 3 years of age, and you anticipate they’ll begin college 15 years from now (at age 18). Market rates of return on aggressive investments average 13.0%. 10. Using the same scenario above, how much would you need to invest per month to have the $30,000 by the time your child begins college?

Question