Question

Eva will put $5,000 in her tax deferred retirement account each year beginning one year from...

Eva will put $5,000 in her tax deferred retirement account each year beginning one year from today and continuing for a total of 25 years. If her investment earns 8.00% per year, how much will she have at the end of 25 years?

Round your answer to the nearest whole dollar. For example, $2,371.24 should be entered as 2,371.

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Answer #1
She will have at the end of 25 Years         365,529.70
Time Opening Balance Interest Total Balance Deposits Closing Balance
                                 1.00                          -                           -                           -              5,000.00            5,000.00
                                 2.00             5,000.00                400.00            5,400.00            5,000.00          10,400.00
                                 3.00           10,400.00                832.00          11,232.00            5,000.00          16,232.00
                                 4.00           16,232.00            1,298.56          17,530.56            5,000.00          22,530.56
                                 5.00           22,530.56            1,802.44          24,333.00            5,000.00          29,333.00
                                 6.00           29,333.00            2,346.64          31,679.65            5,000.00          36,679.65
                                 7.00           36,679.65            2,934.37          39,614.02            5,000.00          44,614.02
                                 8.00           44,614.02            3,569.12          48,183.14            5,000.00          53,183.14
                                 9.00           53,183.14            4,254.65          57,437.79            5,000.00          62,437.79
                              10.00           62,437.79            4,995.02          67,432.81            5,000.00          72,432.81
                              11.00           72,432.81            5,794.62          78,227.44            5,000.00          83,227.44
                              12.00           83,227.44            6,658.19          89,885.63            5,000.00          94,885.63
                              13.00           94,885.63            7,590.85       102,476.48            5,000.00       107,476.48
                              14.00         107,476.48            8,598.12       116,074.60            5,000.00       121,074.60
                              15.00         121,074.60            9,685.97       130,760.57            5,000.00       135,760.57
                              16.00         135,760.57          10,860.85       146,621.42            5,000.00       151,621.42
                              17.00         151,621.42          12,129.71       163,751.13            5,000.00       168,751.13
                              18.00         168,751.13          13,500.09       182,251.22            5,000.00       187,251.22
                              19.00         187,251.22          14,980.10       202,231.32            5,000.00       207,231.32
                              20.00         207,231.32          16,578.51       223,809.82            5,000.00       228,809.82
                              21.00         228,809.82          18,304.79       247,114.61            5,000.00       252,114.61
                              22.00         252,114.61          20,169.17       272,283.78            5,000.00       277,283.78
                              23.00         277,283.78          22,182.70       299,466.48            5,000.00       304,466.48
                              24.00         304,466.48          24,357.32       328,823.80            5,000.00       333,823.80
                              25.00         333,823.80          26,705.90       360,529.70            5,000.00       365,529.70
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