Question

Derek currently has $13,976.00 in an account that pays 5.00%. He will withdraw $5,724.00 every other year beginning next year until he has taken 6.00 withdrawals. He will deposit $13976.0 every other year beginning two years from today until he has made 6.0 deposits. How much will be in the account 24.00 years from today?

Answer #1

Rate =5%

FV =PV*(1+r)^n =13976*(1+5%)^24 =45074.9968

Withdrawal next year =5724

Effective bi yearly rate =(1+5%)^2-1 =10.25%

Year after 6 withdrawals =11

FV at year 11 =PMT*((1+r)^n-1)/r)=5724*((1+10.25%)^6-1)/10.25%)
=44443.7230

FV at year 24 =44443.7230*(1+5%)^13 =83805.2682

Deposit after 2 years =13976

Years after 6 deposits =12

FV at year 12 =PMT*((1+r)^n-1)/r)=13976*((1+10.25%)^6-1)/10.25%
=108515.9806

FV at year 24 =108515.9806*(1+5%)^12 =194879.1103

FV at 24 years =45074.9968-83805.2682+194879.1103=156148.84

Derek currently has $10,906.00 in an account that pays 6.00%. He
will withdraw $5,571.00 every other year beginning next year until
he has taken 6.00 withdrawals. He will deposit $10906.0 every other
year beginning two years from today until he has made 6.0 deposits.
How much will be in the account 22.00 years from today? WITH
CALCULATOR

Derek currently has $14,222.00 in an account that pays 6.00%. He
will withdraw $5,045.00 every other year beginning next year until
he has taken 5.00 withdrawals. He will deposit $14222.0 every other
year beginning two years from today until he has made 5.0 deposits.
How much will be in the account 22.00 years from today?

Derek currently has $13,772.00 in an account that pays 6.00%. He
will withdraw $5,561.00 every other year beginning next year until
he has taken 6.00 withdrawals. He will deposit $13772.0 every other
year beginning two years from today until he has made 6.0 deposits.
How much will be in the account 27.00 years from today? Answer
format: Round to 2 decimal places

Derek currently has $11,305.00 in an account that pays 4.00%. He
will withdraw $5,156.00 every other year beginning next year until
he has taken 6.00 withdrawals. He will deposit $11305.0 every other
year beginning two years from today until he has made 6.0 deposits.
How much will be in the account 30.00 years from today? round
answer 2 decimal places

Derek currently has $12,179.00 in an account that pays 5.00%. He
will withdraw $5,817.00 every other year beginning next year until
he has taken 4.00 withdrawals. He will deposit $12179.0 every other
year beginning two years from today until he has made 4.0 deposits.
How much will be in the account 29.00 years from today?
please show how to answer step by step using a financial
calculator

Derek currently has $13,984.00 in an account that pays 6.00%. He
will withdraw $5,752.00 every other year beginning next year until
he has taken 8.00 withdrawals. He will deposit $13984.0 every other
year beginning two years from today until he has made 8.0 deposits.
How much will be in the account 25.00 years from today?

Derek currently has $12,640.00 in an account that pays 6.00%. He
will withdraw $5,725.00 every other year beginning next year until
he has taken 7.00 withdrawals. He will deposit $12640.0 every other
year beginning two years from today until he has made 7.0 deposits.
How much will be in the account 27.00 years from today?

Derek currently has $12,640.00 in an account that pays 6.00%. He
will withdraw $5,725.00 every other year beginning next year until
he has taken 7.00 withdrawals. He will deposit $12640.0 every other
year beginning two years from today until he has made 7.0 deposits.
How much will be in the account 27.00 years from today?

Derek currently has $11,449.00 in an account that pays 6.00%. He
will withdraw $5,445.00 every other year beginning next year until
he has taken 4.00 withdrawals. He will deposit $11449.0 every other
year beginning two years from today until he has made 4.0 deposits.
How much will be in the account 23.00 years from today?

Derek currently has $10,925.00 in an account that pays 6.00%. He
will withdraw $5,856.00 every other year beginning next year until
he has taken 7.00 withdrawals. He will deposit $10925.0 every other
year beginning two years from today until he has made 7.0 deposits.
How much will be in the account 30.00 years from today?
Please show steps with financial calculator if possible, if not
just the answer is fine

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 2 minutes ago

asked 4 minutes ago

asked 15 minutes ago

asked 17 minutes ago

asked 20 minutes ago

asked 20 minutes ago

asked 28 minutes ago

asked 51 minutes ago

asked 51 minutes ago

asked 56 minutes ago

asked 58 minutes ago

asked 1 hour ago