Question

Starting next year you plan to deposit $1000 each year into an account earning 9.25% effective annual return. How many years will it take for your account to grow to $20,000, if you increase your deposit each year by 5%? (Hint: use excel goal seek).

Enter answer in years, rounded to the nearest first decimal, as in "4.6" years

Answer #1

Starting next year you plan to deposit $1000 each year into an
account earning 9.25% effective annual return. How many years will
it take for your account to grow to $20,000, if you increase your
deposit each year by 5%? (Hint: use excel goal seek).
Enter answer in years, rounded to the nearest first decimal, as
in "4.6" years

1/ You deposit $3000 at the beginning of each year into an
account earning 5% interest compounded annually. How much will you
have in the account in 20 years?
2/Suppose you want to have $400,000 for retirement. Your account
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Round to the nearest year.

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present value of this savings plan? Enter your answer in dollars,
rounded to the nearest cent (2 decimals).

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each?
2) An investment pays no cash flows for the next 3 years. After
three years, the investment pays $1000 per year for 10 years. After
that, the investment pays $2000 per year forever. The appropriate
discount rate is...

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