Question

In an effort to save money for early retirement, an
environmental engineering colleague plans

to deposit $1500 every 3 months into a bank account. The first
deposit will be made 3 months

from today and the last deposit will be made at year 10.

A) If the bank’s interest rate is 12% per year compounded
continuously, how much will be in

the account at the end of 10 years? (12.5 points)

B) If the bank’s interest rate is still 12% per year but compounded
monthly, how much will be

in the account at the end of 10 years? (12.5 points)

Answer #1

please give like

Kabayan plans to save as retirement savings. He went to the
bank, where He was offered 2 options, as follows:
Option 1: Kabayan saves $ 1,000 at the end of every 4 months for
10 years. After 10 years, Kabayan no longer needs to save money,
and only has to deposit his savings at the end of year 10 for the
next 15 years
Option 2: kabayan does nothing for 10 years, then saves $ 6,000
at the end of...

1) Lauren plans to deposit $200 per month into an account at the
end of each month for the next 15 years. If her back pays interest
at the rate of 2.5% per year compounded monthly, how much will
Lauren have in her account at the end of 15 years?
2) Jim makes monthly payments of $800 into a retirement account
for ten years. If the account pays 8% compounded monthly, how much
will be in the account at the...

Daryl wishes to save money to provide for his retirement. He is
now 30 years old and will be retiring at age 64. Beginning one
month from now, he will begin depositing a fixed amount into a
retirement savings account that will earn 12% compounded monthly.
Then one year after making his final deposit, he will withdraw
$100,000 annually for 25 years. In addition, and after he passes
away (assuming he lives 25 years after retirement) he wishes to
leave...

Daryl wishes to save money to provide for his retirement. He is
now 30 years old and will be retiring at age 64. Beginning one
month from now, he will begin depositing a fixed amount into a
retirement savings account that will earn 12% compounded monthly.
Then one year after making his final deposit, he will withdraw
$100,000 annually for 25 years. In addition, and after he passes
away (assuming he lives 25 years after retirement) he wishes to
leave...

Someone who is saving for his retirement plans to deposit $100
every month, starting one month from now, into an investment
account. If the account pays interest at 8% per year, compounded
quarterly, what is the total she will have at the end of 15 years?
Construct a cash flow diagram

Question No : 3
If you deposit 10 $ in an account, that pays 5% interest,
compounded annually, how much you will have at the end of 10 years?
50 years and 100 years
How much will be in account at the end of 5 years the amount
deposited today is 10,000 and interest is 8% per year, compounded
semiannually?
How much would I have to deposit in an account today that pays
12% interest, compounded quarterly, so that I...

Bill decides to save for retirement. The company he chooses
offers 6.3% compounded annually. Bill decides to make $3,000 yearly
deposits into his account for the next 30 yrs. Then for the 25
years following his final deposit, Bill plans on taking out an
equal amount of money at the end of every year.
How much will Bill be able to withdraw each year for the 25
years after his last deposit?
How much interest is earned during this entire...

Bill decides to save for retirement. The company he chooses
offers 6.3% compounded annually. Bill decides to make $3,000 yearly
deposits into his account for the next 30 yrs. Then for the 25
years following his final deposit, Bill plans on taking out an
equal amount of money at the end of every year.
How much will Bill be able to withdraw each year for the 25
years after his last deposit?
How much interest is earned during this entire...

If I deposit $6000 per year into my retirement account every
year, how much will I have in 20 years? Assume interest rates of
12% compounded annually.
Select one:
a. $482,314.65
b. $484,192.41
c. $57,877.76
d. $432,314.65

Problem
Daryl wishes to save money to provide for his retirement. He is
now 30 years old and will be retiring at age 64. Beginning one
month from now, he will begin depositing a fixed amount into a
retirement savings account that will earn 12% compounded monthly.
Then one year after making his final deposit, he will withdraw
$100,000 annually for 25 years. In addition, and after he passes
away (assuming he lives 25 years after retirement) he wishes to...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 11 minutes ago

asked 12 minutes ago

asked 41 minutes ago

asked 54 minutes ago

asked 57 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago