Question

You have been investing $278 a month for the last 6 years. Today, your investment account...

You have been investing $278 a month for the last 6 years. Today, your investment account is worth $25,262. What is your annual rate of return on your investments? Assume monthly compounding. (show steps without calculator)

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
You've been offered an investment opportunity that will pay you $10,000 in three years. It is...
You've been offered an investment opportunity that will pay you $10,000 in three years. It is somewhat risky, so you would only take on this investment if you earned a 20% annual return with annual compounding. What is the most that you would pay for this investment today? · are you trying to find a PV or FV? · show your calculations using the formula · show your calculations using the keystrokes for your financial calculator (state which financial calculator...
You've been offered an investment opportunity that will pay you $10,000 in three years. It is...
You've been offered an investment opportunity that will pay you $10,000 in three years. It is somewhat risky, so you would only take on this investment if you earned a 20% annual return with annual compounding. What is the most that you would pay for this investment today? are you trying to find a PV or FV? show your calculations using the formula show your calculations using the keystrokes for your financial calculator (state which financial calculator you are using)...
Your goal is to retire 25 years from now and have investments worth $3,600,00 at that...
Your goal is to retire 25 years from now and have investments worth $3,600,00 at that time. Today you have $198,000 in your investment account and plan on adding $1,000 each month to the account. What annual rate of return must you earn on average to achieve your goal?
Please show your steps for each part of the problem, and if a calculator was used,...
Please show your steps for each part of the problem, and if a calculator was used, list the button combination pressed in order to arrive at your answer! a. Jack and Jill are twins and at 20 years of age they both opened separate investment accounts with an on online broker. Jack started investing $50 a month starting from today. Jill will save $55 a month starting at the end of the month. if this investment account gives them 8%...
You have been able to save a little bit of money over the last five years,...
You have been able to save a little bit of money over the last five years, though it wasn't anything very formal. Still, you have $6456 sitting in an investment account. Now you're going to get serious and contribute to that account another $893 each month for 29 years. You believe you can earn a consistent 7.3% per year on this investment, compounding monthly. What should your balance be at the end of this investment plan (of 29 years)?
Assume that today is the first day of the month and that it is also your...
Assume that today is the first day of the month and that it is also your first day of retirement. You have saved for retirement over the years and have accumulated $499,000 in an investment account from which you plan to make monthly withdrawals during your retirement starting at the end of this month. Assuming you can earn annual returns of 7.5% in your investment account during your retirement years, how much money can you withdraw every month to make...
1. You are offered an investment that will pay $100 annually for 7 years (the first...
1. You are offered an investment that will pay $100 annually for 7 years (the first payment will be made at the end of year 1) plus $2,900 at the end of year 7. If the appropriate discount rate is 5%, assume annual compounding, what is the investment worth to you today? 2. You are offered an investment that will pay $100 annually for 7 years (the first payment will be made at the end of year 1) plus $2,900...
QUESTION 6 Bob has been investing $5,500 in stock at the end of every year for...
QUESTION 6 Bob has been investing $5,500 in stock at the end of every year for the past 13 years. If the account is currently worth $125,700, what was his annual return on this investment? 10.21% 8.93% 8.25% 8.49% 9.93% QUESTION 5 Fancy Cat Products has a project that will cost $260,500 today and will generate monthly cash flows of $5,485 for the next 70 months. What is the rate of return of this project when expressed as an APR?...
1.An investment will give you monthly payments of $729.16 for 6 years. You will receive your...
1.An investment will give you monthly payments of $729.16 for 6 years. You will receive your first payment today. If your required return is 9.6%, what is it worth today? ANS:40109.30? 2.You have accumulated $1,188.67 in credit card debt. Your interest rate is 18% per year and you will pay it off in 55 months. what will be your monthly payment? pLEASE COME WITH FORMULA
You are considering an investment by depositing $25,000 to an account today and making monthly contributions...
You are considering an investment by depositing $25,000 to an account today and making monthly contributions of $300 into the account for 10 years. If you want to have $100,000 in the account after 10 years, what annual interest rate must you earn from the account? If you go ahead with the investment and decide to increase the monthly contribution to $400 after 5 years (deposit $25,000 today, $300 monthly for the first 5 years), how much will you have...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT