Question

If you invest $2,000 per year for 9 years and earn a 5% return on your...

If you invest $2,000 per year for 9 years and earn a 5% return on your investment during that period, how much will you have accumulated by the end of the nine-year period?

(a) $2,000

(b) $11,970

(c) $18,000

(d) $22,054

(e) $30,000

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

The Correct answer is ''Option (d) $22,054

Explanation below:-

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You invest $25,000 today and $4000 per year for 32 years. Assuming you earn an 8.5%...
You invest $25,000 today and $4000 per year for 32 years. Assuming you earn an 8.5% rate of return, how much will you have at the end of the 32nd year? You want to borrow $25,000. For the loan to you must repay $1100 every quarter (4 times per year) for the next 5 years plus $8700 at the end of the 5 years. Based on this, what rate of interest are you paying? Finally, assume you currently have $215,000...
You have decided to invest $1,000 at a rate of 10% per year during the first...
You have decided to invest $1,000 at a rate of 10% per year during the first 10 years. After that, you will be more conservative and expect to earn 6% per year. How much will you have accumulated at the end of 20 years from now? Please use excel formulas for answer.
You are planning to invest $ 9 comma 000 in an account earning 5​% per year...
You are planning to invest $ 9 comma 000 in an account earning 5​% per year for retirement. a. If you put the $ 9 comma 000 in an account at age​ 23, and withdraw it 43 years​ later, how much will you​ have? b. If you wait 10 years before making the​ deposit, so that it stays in the account for only 33 ​years, how much will you have at the​ end?
Suppose you have $500 to invest and you believe that you can earn 8% per year...
Suppose you have $500 to invest and you believe that you can earn 8% per year over the next 15 years. How much would you have at the end of 15 years using compound interest? How much would you have using simple interest?
CAN YOU PLEASE SHOW ME HOW! You invest $5,000 per year for 25 years at 9%....
CAN YOU PLEASE SHOW ME HOW! You invest $5,000 per year for 25 years at 9%. How much will you have at the end of the 25 years? ($423,504.48) What if you invest monthly ($5,000/12) instead of annually? ($467,134.14)
1. You plan to retire in 33 years and can invest to earn 18%. You estimate...
1. You plan to retire in 33 years and can invest to earn 18%. You estimate that you will need Rs 1,000,000 at the end of each year for an estimated 18 years after retirement, and you expect to earn 5% during those retirement years. How much do you need to set aside at the end of each year to accumulate the money needed for your retirement? 

You are planning for retirement 35 years from now. You plan to invest $5,300 per year...
You are planning for retirement 35 years from now. You plan to invest $5,300 per year for the first 8 years, $6,800 per year for the next 9 years, and $13,600 per year for the following 18 years (assume all cash flows occur at the end of each year). If you believe you will earn an effective annual rate of return of 10.3%, what will your retirement investment be worth 35 years from now?
How much will you have in thirty-one years if you invest $220 today, and can earn...
How much will you have in thirty-one years if you invest $220 today, and can earn 4.3%? What is an investment fund worth today that will pay you $32,000 in eleven years, if you can earn 6%? Your parents will put $13,000 into a Certificate of Deposit (CD) today to provide you with $30,000 for your college education. If the interest rate is 5%, how many years must you wait before you can go to college?
You are planning for retirement 34 years from now. You plan to invest $3,100 per year...
You are planning for retirement 34 years from now. You plan to invest $3,100 per year for the first 5 years, $8,500 per year for the next 10 years, and $10,700 per year for the following 19 years (assume all cash flows occur at the end of each year). If you believe you will earn an effective annual rate of return of 12.2%, what will your retirement investment be worth 34 years from now? $58,073.60 $51,759.00 $2,310,735.22 $2,592,644.91 $1,163,838.30
Assume you plan to retire in 39 years. If you invest $170.00 per month in the...
Assume you plan to retire in 39 years. If you invest $170.00 per month in the broad U.S. equity market and earn annual returns of 9.6% over that period, how much money will you have accumulated on the day you plan to retire?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT