Connie deposits $2000 at the end of each year into her Individual Retirement Account IRA. It earns 8% compounded annually. How much will connie have after twenty years?
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Connie deposits $2000 at the end of each year into her Individual Retirement Account IRA. It earns 8% compounded annually. How much will connie have after twenty years?
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- Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It earns 8% compounded annually. How much will Connie have after twenty years? Show formula and steps.Carla Lopez deposits $5, 200 a year into her retirement account. If these funds have an average eaning of 6 percent over the 40 years until her retirement, what will be the value of her retirement account?Ginger Rogers deposits $3,000 a year into her retirement account. If these funds have an average earning of 8 percent over the 40 years until her retirement, what will be the value of her retirement account?
- Carla Lopez deposits $2,500 a year into her retirement account. If these funds have an average earnings of 5 percent over the 40 hears until her retirement, what will be the value of her retirement account?Mary plans to make the following contributions to her retirement account: $10,000 for each of the next ten years, and $12,000 for each of the ten years after that. If her savings earn 5%, how much will she have at the end of the 20 years. Ignore taxes and assume that the contributions are made at the end of the year.Tameshia deposits $5500 in her retirement account every year. If her account pays an average of 6% interest and she makes 38 deposits before she retires, how much money can she withdraw in 20 equal payments beginning one year after her last deposit?
- Andrea, a self-employed individual, wishes to accumulate a retirement fund of $250,000. How much should she deposit each month into her retirement account, which pays interest at a rate of 4.5%/year compounded monthly, to reach her goal upon retirement 20 years from now? (Round your answer to the nearest cent.Manuel is preparing for an income fund for his retirement. He wants to receive P 15 500 at the beginning of each month for the next 25 years. The income fund pays 10.5% per year compounded monthly. How much must Manuel deposit now to pay for the annuity?Izzie contributes $100 every other week from her paycheck to her retirement savings account. which of the following single calculation would be required to compute the value pf her nest egg in 45 years if she can earn an average 4 percent annually?
- Rachel starts an IRA (Individual Retirement Account) at the age of 26 to save for retirement. She deposits $300 each month. The IRA has an average annual interest rate of 8% compounded monthly. How much money will she have saved when she retires at the age of 65? Round your answer to the nearest cent, if necessary.Molly starts an IRA (Individual Retirement Account) at the age of 24 to save for retirement. She deposits $400 each month. The IRA has an average annual interest rate of 7% compounded monthly. How much money will she have saved when she retires at the age of 65? Round your answer to the nearest cent, if necessaryRobin wishes to accumulate a sum of $450,000 in a retirement account by the time of her retirement in 30 years from now. If she wishes to do this through monthly payments into an account that earns interest at the rate of 10% / year compounded monthly, what should be the size of each payment?