Question
In: Finance
Derek can deposit $11,000 on each birthday beginning with his 26th and ending with his 65th....
Derek can deposit $11,000 on each birthday beginning with his 26th and ending with his 65th. What will the rate on the retirement account need to be for him to have $3,000,000 in it when he retires on his 65th birthday?
Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))
Derek can deposit $10,448.00 on each birthday beginning with his 26.00th and ending with his 65.00th. What will the rate on the retirement account need to be for him to have $3,589,542.00 in it when he retires?
Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
Solutions
jeff jeffy answered 2 years agoRelated Solutions
Derek can deposit $11,000 on each birthday beginning with his 26th and ending with his 65th....
Derek can deposit $11,000 on each birthday beginning with his
26th and ending with his 65th. What will the rate on the retirement
account need to be for him to have $3,000,000 in it when he retires
on his 65th birthday?
Hello can I please get help on this homework question? Can you
please solve using a financial calculator? Thank you!
Answer format: Percentage Round to: 4
decimal places (Example: 9.2434%, % sign required. Will accept
decimal format rounded to...
Derek can deposit $11,000 on each birthday beginning with his 26th and ending with his 65th....
Derek can deposit $11,000 on each birthday beginning with his
26th and ending with his 65th. What will the rate on the retirement
account need to be for him to have $3,000,000 in it when he retires
on his 65th birthday?
Answer format: Percentage Round to: 4
decimal places (Example: 9.2434%, % sign required. Will accept
decimal format rounded to 6 decimal places (ex: 0.092434))
#22 Derek can deposit $11,000 on each birthday beginning with his 26th and ending with his...
#22
Derek can deposit $11,000 on each birthday beginning with his
26th and ending with his 65th. What will the rate on the retirement
account need to be for him to have $3,000,000 in it when he retires
on his 65th birthday?
Answer format: Percentage Round to: 4
decimal places (Example: 9.2434%, % sign required. Will accept
decimal format rounded to 6 decimal places (ex: 0.092434))
If Derek plans to deposit $13,117.00 into his retirement account on each birthday beginning with his...
If Derek plans to deposit $13,117.00 into his retirement account
on each birthday beginning with his 26th and the account earns
4.00%, how long will it take him to accumulate $3,817,949.00?
Answer format: Number: Round to: 2 decimal
places.
Derek decides that he needs $157,131.00 per year in retirement
to cover his living expenses. Therefore, he wants to withdraw
$157131.0 on each birthday from his 66th to his 85.00th. How much
will he need in his retirement account on his...
If Derek plans to deposit $14,828.00 into his retirement accounton each birthday beginning with his...
If Derek plans to deposit $14,828.00 into his retirement account
on each birthday beginning with his 26th and the account earns
7.00%, how long will it take him to accumulate $2,502,509.00?Answer format: Number: Round to: 2 decimal
places.Derek plans to retire on his 65th birthday. However, he plans to
work part-time until he turns 73.00. During these years of
part-time work, he will neither make deposits to nor take
withdrawals from his retirement account. Exactly one year after the
day...
If Derek plans to deposit $10,746.00 into his retirement account on each birthday beginning with his...
If Derek plans to deposit $10,746.00 into his retirement account
on each birthday beginning with his 26th and the account earns
11.00%, how long will it take him to accumulate $2,906,805.00?
Answer format: Number: Round to: 2 decimal
places
If Derek plans to deposit $10,463.00 into his retirement accounton each birthday beginning with his...
If Derek plans to deposit $10,463.00 into his retirement account
on each birthday beginning with his 26th and the account earns
12.00%, how long will it take him to accumulate $2,019,998.00?Answer format: Number: Round to: 2 decimal places.
Answer ALL. 1. Derek plans to retire on his 65th birthday. However, he plans to work...
Answer ALL.
1.
Derek plans to retire on his 65th birthday. However, he plans to
work part-time until he turns 72.00. During these years of
part-time work, he will neither make deposits to nor take
withdrawals from his retirement account. Exactly one year after the
day he turns 72.0 when he fully retires, he will begin to make
annual withdrawals of $103,198.00 from his retirement account until
he turns 92.00. He he will make contributions to his retirement
account from...
PLEASE ANSWER ALL #1 Derek plans to retire on his 65th birthday. However, he plans to...
PLEASE ANSWER ALL
#1
Derek plans to retire on his 65th birthday. However, he plans to
work part-time until he turns 72.00. During these years of
part-time work, he will neither make deposits to nor take
withdrawals from his retirement account. Exactly one year after the
day he turns 72.0 when he fully retires, he will wants to have
$2,800,968.00 in his retirement account. He he will make
contributions to his retirement account from his 26th birthday to
his 65th...
Derek plans to retire on his 65th birthday. However, he plans to work part-time until he...
Derek plans to retire on his 65th birthday. However, he plans to
work part-time until he turns 70.00. During these years of
part-time work, he will neither make deposits to nor take
withdrawals from his retirement account. Exactly one year after the
day he turns 70.0 when he fully retires, he will begin to make
annual withdrawals of $138,803.00 from his retirement account until
he turns 90.00. He he will make contributions to his retirement
account from his 26th birthday...
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