André is looking ahead to his retirement. He wants to have $580,000 in his savings account when he retires. How much must he deposit into his account now (a one-time deposit), if the account pays a fixed interest rate of 9%, to ensure that theaccount has $580,000 when he retires, 25 years from now?This question: 10 point(s) possibleAssume that André will not make any additional deposits or withdrawals into or out of the account between now and when he reaches retirement.O A. $94,165O B. $77,846O C. $121,070O D. $67,261O Time Remaining: 00:34:10NextMacBook AirDDF10F8F6F5escF2F3F1&delete%%3D@#$81234}{TYUWERQKLGH.. ·-品:

André is looking ahead to his retirement. He wants to have $580,000 in his savings account when he retires. How much must he deposit into his account now (a one-time deposit), if the account pays a fixed interest rate of 9%, to ensure that the account has $580,000 when he retires, 25 years from now? Assume that André will not make any additional deposits or withdrawals into or out of the account between now and when he reaches retirement. O A. $94,165 O B. $77,846 O C. $121,070 O D. $67,261

André is looking ahead to his retirement. He wants to have $580,000 in his savings account when he retires. How much must he deposit into his account now (a one-time deposit), if the account pays a fixed interest rate of 9%, to ensure that the account has $580,000 when he retires, 25 years from now? Assume that André will not make any additional deposits or withdrawals into or out of the account between now and when he reaches retirement. O A. $94,165 O B. $77,846 O C. $121,070 O D. $67,261

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 13E

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(MORNING) André is looking ahead to his retirement. He wants to have $580,000 in his savings account when he retires. How much must he deposit into his account now account has $580,000 when he retires, 25 years from now? Assume that André will not make any additional deposits or withdrawals into or out of the account between now and when he reaches retirement. one-time deposit), if the account pays a fixed interest rate of 9%, to ensure that the O A. $94,165 O B. $77,846 O C. $121,070 O D. $67,261 O Time Remaining: 00:19:52 Next 9 MacBook Air DII DO F12 80 F9 F7 F8 F6 FS esc F3 F4 F1 F2 & @ $ delete ! 7 1 2 { R T Y Q W J K H ? |.. .- * 00
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ou decide to replace your income of $70,000 a year in retirement for 30 years. How much do you need in your retirement account the day you retire to make that happen, assuming a real interest rate of 3%?
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