Question

Today is your 21st birthday and your parents gave you a gift of $2,000. You just put this money in a brokerage account, and your plan is to add $1,000 to the account each year on your birthday, starting on your 22nd birthday. If you earn 10 percent a year in the brokerage account, what is the minimum number of whole years it will take for you to have at least $1,000,000 in the account? a. 41 b. 43 c. 45 d. 47 e. 48

Answer #1

Today is your 21st birthday and you just decided to start saving
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month starting one month from now. You plan to retire as soon as
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your savings, how old will you be when you retire?

You just opened a brokerage account, depositing $2,000. You
expect the account to earn an interest rate of 8.84%. You also plan
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the value of the account at the end of 20 years, assuming you earn
your expected rate of return?
How would I put this in the HP 10bII+ calculator?

a) You will receive $1,000 from your parents as a birthday gift
in half year. You have decided to invest it at 5% per annual until
you have $1,629. How many years will you have to wait from NOW
until you achieve your target?
b) You will receive fifty annual payments of $1,000 each
beginning at the end of the 40th year. What is the present value of
these payments? The appropriate annual discount rate is 10%.

Suppose you received a gift of $2000 cash on your 21st birthday.
Further suppose you used it to purchase a bond with no expiration
date that pays annual interest of $100.
a. What is the annual yield rate on your bond?
b. What will be the market price of your bond if the interest
rate on newly issued bonds of similar risk rises to 6%?
c. Alternatively, what will be the market price of your bond if
the interest rate...

. It is your 6th birthday today. You have a trust fund with
$50,000 that is earning 8% per year.
You expect to withdraw $30,000 per year for 7 years starting on
your 22nd birthday for graduate school. How much money will be left
in the trust fund after your last withdrawal (rounded to the
nearest $10)?

You just celebrated your 40th birthday. You plan to
retire when you turn 65. Today you have $105,736.62 accumulated in
your retirement plan and plan to continue adding money each month
to your retirement plan for exactly 25 years, starting one month
from now. When you retire you will receive a $40,000 retirement
bonus from your employer and will immediately deposit the money
into your retirement plan. You will then use the accumulated funds
to purchase an annuity that will...

Today is your 40th birthday. You expect to retire at age 65, and
actuarial tables suggest that you will live to be 100. You want to
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return of 7% on your savings. ...

Today is your 25th birthday. You have
decided that it is necessary to plan your own retirement since you
are not confident that government benefits will be available when
you retire. You will make annual payments into an
account earning 5% APY starting on your next birthday
(26th) a year from now. Your last payment
will occur on your 70th birthday. You have
decided that you need to plan for payments of $500,000 per year and
that there will be a total of 20...

Can you Solve it in Excel Please
Today is your 25th birthday. You have
decided that it is necessary to plan your own retirement since you
are not confident that government benefits will be available when
you retire. You will make annual payments into an
account earning 5% APY starting on your next birthday
(26th) a year from now. Your last payment
will occur on your 70th birthday. You have
decided that you need to plan for payments of $500,000 per year and
that...

Your friend gave you an infrared telescope for your birthday
(without a gift recipe), knowing you became fascinated with the
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laboratory class at UCLA. How exciting would that be to you to have
a telescope: however, you live in LA and after opening the present,
your happy smile disappeared, for the type of telescope might not
totally satisfy your needs, why? why not?
Although, uncomfortable you called your friend to
explain.........(fill...

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