Question

Suppose you want to have $400,000 for retirement in 30 years. Your account earns 8% interest....

Suppose you want to have $400,000 for retirement in 30 years. Your account earns 8% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $

Math   Algebra   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose you want to have $800,000 for retirement in 30 years. Your account earns 7% interest....
Suppose you want to have $800,000 for retirement in 30 years. Your account earns 7% interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn?
Suppose you want to have $300,000 for retirement in 30 years. Your account earns 5% interest....
Suppose you want to have $300,000 for retirement in 30 years. Your account earns 5% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn?
Suppose you want to have $300,000 for retirement in 30 years. Your account earns 4% interest....
Suppose you want to have $300,000 for retirement in 30 years. Your account earns 4% interest. a) How much would you need to deposit in the account each month? b) How much interest will you earn?
Suppose you want to have $300,000 for retirement in 35 years. Your account earns 6% interest....
Suppose you want to have $300,000 for retirement in 35 years. Your account earns 6% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $
Suppose you want to have $800,000 for retirement in 25 years. Your account earns 9% interest....
Suppose you want to have $800,000 for retirement in 25 years. Your account earns 9% interest. a) How much would you need to deposit in the account each month? $ b) How much interest will you earn? $
suppose you want to have 600,000 for retirement 30 years. your account earns 5%interest. how much...
suppose you want to have 600,000 for retirement 30 years. your account earns 5%interest. how much would you need to deposite in the account each month?
You want to have $150,000 in your retirement account when you retire in 30 years. Your...
You want to have $150,000 in your retirement account when you retire in 30 years. Your retirement account earns 7% interest. How much do you need to deposit each month to meet your retirement goal? Round your answer to the nearest cent if necessary and do not include the dollar sign.
FINANCE 5. 5A. You deposit $5000 in an account earning 8% interest compounded monthly. How much...
FINANCE 5. 5A. You deposit $5000 in an account earning 8% interest compounded monthly. How much will you have in the account in 15 years? 5B. You can afford a $350 per month car payment. You've found a 3 year loan at 2% interest. How big of a loan can you afford? 5C. You have $300,000 saved for retirement. Your account earns 5% interest. How much will you be able to pull out each month, if you want to be...
1. You want to be able to withdraw $35,000 each year for 25 years. Your account...
1. You want to be able to withdraw $35,000 each year for 25 years. Your account earns 5% interest. a) How much do you need in your account at the beginning? b) How much total money will you pull out of the account? c) How much of that money is interest? 2. You want to buy a $23,000 car. The company is offering a 2% interest rate for 48 months (4 years). What will your monthly payments be? 3. Suppose...
6. You deposit $400 each month into an account earning 5% interest compounded monthly. a) How...
6. You deposit $400 each month into an account earning 5% interest compounded monthly. a) How much will you have in the account in 35 years? b) How much total money will you put into the account? c) How much total interest will you earn? 7. Suppose you want to have $500,000 for retirement in 25 years. Your account earns 7% interest. a) How much would you need to deposit in the account each month? b) How much interest will...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT