Question

you put aside 100,000 in year t=0 and let it grow at 4% interest for 3 years. exactly one year after that you start to withdraw your money for 3 years in equal amounts until it is exhausted. How much can you withdraw per year? answer to the nearest cent.

Answer #1

You put aside $100,000 in year t = 0, and let it grow at 6.3%
interest for 5 years. Exactly one year after that you start to
withdraw your money for 3 years in equal amounts until it is
exhausted. How much can you withdraw per year? Answer to the
nearest cent, xxx.xx and enter without a dollar sign.

You are thinking about retirement and decide to put
aside $3000 each year in a savings plan that earns 10% interest. In
15 years, you will receive a one-time gift of $20,000 that also can
be invested.
a. How much money will you have accumulated 30 years from
now?
b. If your goal is to retire with $800,000 of savings, how much
extra do you need to save every year?
c. If you believe that you will live 15 more...

If the interest rate is 4% per year compounded annually, suppose
you want to start saving a fixed amount C every year. starting at
t=0 until t=3 such that you can collect $50000 at t=5. What fixed
amount C do you have to set aside every year?

How much money would you accumulate into your pension fund, if
you put aside 50 euros every month for 30 years at 3% interest?
How much money you must save every months, if you need to have
5000 euros in 4 years at 2% interest?

You would like to set aside money for your child’s education at
a 4-year college. Tuition payments will begin in exactly 18 years
and will be paid for 4 consecutive years at the child’s 18th, 19th,
20th, and 21st birthdays. It is estimated that the full cost of the
child’s education will be $60,000 per year. Assume interest rate to
be 5%.
- What is the amount needed to meet this cost exactly at 18
years?
- What is the...

To complete your last year in business school and then go
through law school, you will need $30,000 per year for 4 years,
starting next year (that is, you will need to withdraw the first
$30,000 one year from today). Your uncle offers to put you through
school, and he will deposit in a bank paying 3.73% interest a sum
of money that is sufficient to provide the 4 payments of $30,000
each. His deposit will be made today. How...

To complete your last year in business school and then go
through law school, you will need $20,000 per year for 4 years,
starting next year (that is, you will need to withdraw the first
$20,000 one year from today). Your uncle offers to put you through
school, and he will deposit in a bank paying 6.54% interest a sum
of money that is sufficient to provide the 4 payments of $20,000
each. His deposit will be made today.
How...

You plan on putting money aside at the end of every month for
the next 3 years in an annuity that pays an annual interest rate of
12%. (Monthly interest rate of 1%)
You expect that the car of your dreams will cost $35,450 in 3
years.
How much money should you put into the annuity every month?

If you deposit $5,500 at the end of each year in a Roth IRA from
the age of 30 to 60 that earns 5% interest, and withdraw equal
amounts of money from age 65 until 85 how much will you be able to
withdraw per year?
Use compound formulas.

You are planning to deposit $100,000 into a bank account and to
leave the funds on deposit for 12 years. Bank A pays interest at a
rate of 3%, compounded annually. Bank B pays interest at a rate of
2.5%, compounded semiannually. Bank C pays interest at a rate of
2.2% compounded daily.
If you put your money into Bank A, how much will you have in
the account after the 12 years?
If you put your money into Bank...

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