Question

How much money will you have if you invest $2000 each year at 9% for 20...

How much money will you have if you invest $2000 each year at 9% for 20 years and let that sum compound at 8% without additional deposits for the next 30 years?

Please show step by step how to solve and original equation - thank you!

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

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
How much money would you have to invest today, at an interest rate of 5% in...
How much money would you have to invest today, at an interest rate of 5% in order to reach your goal of $1,000,000 in 30 years? Assume you don't put any additional money into this investment. $123,737.45 $321,377.45 $231,377.45 $132,733.45 How much money would you need to invest every year in order to reach your goal of $1,000,000 in 30 years at the same interest rate of 5%, if you had no money up-front TODAY to invest? (PV=0) $15,051.44 $231,377.45...
How much money do you need to invest every year for 20 years at 8% interest...
How much money do you need to invest every year for 20 years at 8% interest in order to have $500,000? In other words, what is the present value of a compounding interest.
Assume you can earn 11% on the investments described below. How much money would each investment...
Assume you can earn 11% on the investments described below. How much money would each investment provide for you after six​ years? a. Invest ​$5000 as a lump sum today. b. Invest ​$1553 at the end of each of the next 6 years. c. Invest a lump sum of ​$2867 today and $983 at the end of each of the next 6 years. d. Invest ​$905 at the end of years​ 1, 3, and 5.
suppose you invest $190 at the end of each month for 5 years into an account...
suppose you invest $190 at the end of each month for 5 years into an account earning 7% annual interest compounded monthly. After 5 years, you leave the money, without making additional deposits, in the account for another 21 years. How much will you have in the end?
You invest $20 at the end of each year for the next 8 years at the...
You invest $20 at the end of each year for the next 8 years at the annual rate of 7%. How much interest results from compounding (in dollars)?
8) If you invest $5,650 in an account paying 8.65% compounded continuously, how much money will...
8) If you invest $5,650 in an account paying 8.65% compounded continuously, how much money will be in the account at the end of 10 years? 9)You have agreed to pay off an $8,000 loan in 30 monthly payments of $298.79 per month. The annual interest rate is 9% on the unpaid balance. a) How much of the rst month's payment will apply towards reducing the principal of $8,000? b)What is the unpaid balance (on the principal) after 12 monthly...
1) How much money will you accumulate by the end of 30 years if you invest...
1) How much money will you accumulate by the end of 30 years if you invest $200 per month and you start out with $30 000 in the bank? Assume the interest rate your money earns is 8% per year and you start saving next month. a) $55 505 b) $30 000 c) $628 131 d) $626 144 2) How much is the monthly payment on a $250 000 loan for 15 years at 10% interest per year? Assume first...
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)
3. How much do you need to deposit in your saving account in today’s money, which...
3. How much do you need to deposit in your saving account in today’s money, which earns 10% compound interest, to be able to collect $8,574.35 in 8 years? Solve this problem using the mathematical method showing all steps. Then solve the problem using Excel present value (PV) calculations (show the changes in saving over all 8 years)
Suppose you invest $140 a month for 5 years into an account earning 6% compounded monthly....
Suppose you invest $140 a month for 5 years into an account earning 6% compounded monthly. After 5 years, you leave the money, without making additional deposits, in the account for another 26 years. How much will you have in the end?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT