Assume that you contribute $300 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $500 per month for the next 25 years. Given a 9.0 percent interest rate, what is the value of your retirement plan after the 40 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value of multiple annuities $ 51,158 72

Assume that you contribute $300 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $500 per month for the next 25 years. Given a 9.0 percent interest rate, what is the value of your retirement plan after the 40 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future value of multiple annuities $ 51,158 72

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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What is the present value of an annuity that pays $58 per year for 13 years and an additional $1,000 with the final payment? Use a nominal rate of 7.23%. $1,039 $946 O $882 O $990 O $873
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You will make equal deposits into your retirement account each year for 10 years starting now (i.e., years 0–9). If you expect to withdraw $50,000 per year forever beginning 30 years from now, and the funds will earn interest at 10% per year, the size of the 10 deposits is nearest: (a) $4239 (b) $4662 (c) $4974 (d) $5471
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question 10 Assume that you contribute $230 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $460 per month for another 30 years. Given a 7.2 percent interest rate, what is the value of your retirement plan after the 50 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) FUTURE VALUE OF MULTIPLE ANNUITIES?
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I need the answer as soon as possible
I need the answer as soon as possible
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