Question

A small business owner contributes $3000 at the end of each quarter to a retirement account that earns 8% compounded quarterly.

(a) How long will it be until the account is worth $150,000? (Round your answer UP to the nearest quarter.) THE ANSWER IS NOT 21

(b) Suppose when the account reaches $150,000, the business owner increases the contributions to $8000 at the end of each quarter. What will the total value of the account be after 15 more years? (Round your answer to the nearest dollar.) $ THE ANSWER IS NOT 10175706.37

Answer #1

A small business owner contributes $2000 at the end of each
quarter to a retirement account that earns 4% compounded
quarterly.
(a) How long will it be until the account is worth $150,000?
(Round your answer UP to the nearest quarter.)
(b) Suppose when the account reaches $150,000, the business owner
increases the contributions to $8000 at the end of each quarter.
What will the total value of the account be after 15 more years?
(Round your answer to the...

A small business owner contributes $3000 at the end of each
quarter to a retirement account that earns 8% compounded quarterly.
Suppose when the account reaches $150,000, the business owner
increases the contributions to $4000 at the end of each quarter.
What will the total value of the account be after 15 more
years?

A small business owner contributes $1000 at the end of each
quarter to a retirement account that earns 8% compounded
quarterly.
(a) How long will it be until the account is worth $150,000?
(Round your answer UP to the nearest quarter.)
I'm coming up with 70.0055 but the answer is
incorrect.
(b) Suppose when the account reaches $150,000, the business owner
increases the contributions to $5000 at the end of each quarter.
What will the total value of the account...

a) Find the future value of an ordinary annuity of $4,000 paid
quarterly for 9 years, if the interest rate is 8%, compounded
quarterly. (Round your answer to the nearest cent.)
$ =
b) Patty Stacey deposits $1600 at the end of each of 5 years
in an IRA. If she leaves the money that has accumulated in the IRA
account for 25 additional years, how much is in her account at the
end of the 30-year period? Assume an...

A 42-year-old man puts $1500 in a retirement account at the
end of each quarter until he reaches the age of 61, then makes no
further deposits. If the account pays 4% interest compounded
quarterly, how much will be in the account when the man retires at
age 66? There will be how much $ in the account. Round to the
nearest cent

If $3500 is deposited at the end of each quarter in an account
that earns 4% compounded quarterly, after how many quarters will
the account contain $80,000? (Round your answer UP to the nearest
quarter.)

A personal account earmarked as a retirement supplement contains
$242,400. Suppose $200,000 is used to establish an annuity that
earns 5%, compounded quarterly, and pays $6500 at the end of each
quarter. How long will it be until the account balance is $0?
(Round your answer UP to the nearest quarter.)

A personal account earmarked as a retirement supplement contains
$242,300. Suppose $200,000 is used to establish an annuity that
earns 6%, compounded quarterly, and pays $4500 at the end of each
quarter. How long will it be until the account balance is $0?
(Round your answer UP to the nearest quarter.)

A personal account earmarked as a retirement supplement contains
$242,200. Suppose $200,000 is used to establish an annuity that
earns 8%, compounded quarterly, and pays $6000 at the end of each
quarter. How long will it be until the account balance is $0?
(Round your answer UP to the nearest quarter.)

A personal account earmarked as a retirement supplement contains
$242,100. Suppose $200,000 is used to establish an annuity that
earns 7%, compounded quarterly, and pays $4500 at the end of each
quarter. How long will it be until the account balance is $0?
(Round your answer UP to the nearest quarter.)?

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