Jillian invested $2,000 six years ago at 4.5 percent interest. She spends all of her interest earnings immediately, so she only receives interest on her initial $2,000 investment. How much interest is she earning each year?

Q: Phil Nelson’s uncle has decided to retire to Arizona in 12 years. What amount should he invest today…

A: first calculate the amount needed when he retires FV = 0 PMT = 32000 N = 17 rate = 7% use PV…

Q: Komiko Tanaka invests $18,000 in LymaBean, Inc. LymaBean does not pay any dividends. Komiko projects…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: At age 18, Marcia started depositing $2000 per year at the end of each year into an account earning…

A: Annuity, A = $ 2,000Rate of interest = r = 12%number of annuities, n = 8

Q: At age 27, Laura deposited $1000 into an IRA, it earns 7 7/8% compounded monthly.

A: In the given problem we have two sections which are being attended below.

Q: Lynn estimates that when she retires at age 60, she will have $165,766.18 in her retirement account.…

A: Amount at the time of retirement = $ 165766.18 Expected Life as per Lynn = (85-60) + 3 = 28 Years…

Q: she leaves the money in this mutual fund how much will she have 13 years after the inheritance?…

A: SOLUTION:-   Formula :-   A=P(1+rn)nt n= type of compounding i.e monthly, daily P= present…

Q: Maria wishes to accumulate $8,000 by the end of 5 years by making equal, annual, end-of-year…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: jesse recieved $5,000 from his grandmother when he turned 18. if he invests it at 5.5%(12), how much…

A: The question gives the following information:

Q: awn invests $2000 each year of 10 consecutive years, starting at age 25. Assume an 8% annual rate of…

A: Here, Annual Payments is $2,000  Time Duration of Investment is 10 years Interest Rate is 8%

Q: Carla Lopez deposits $5, 200 a year into her retirement account. If these funds have an average…

A: Annual deposit=$5200Period=n=40 yearsInterest rate=r=6%Calculate future value.

Q: Assume Sheryl Jenkins wants to accumulate $ 12,485.35 in two years. She currently has $ 10,809.59 to…

A: Future Value is that amount which is received by the investor in future. it includes the interest…

Q: Erika inherits $20,000, and decides to invest it in an account earning 6.25% interest, compounded…

A: Formula Future value = PV*(1+i)n Where PV - Investment i.e. $20,000 i - Semi annual interest rate…

Q: Your sister just deposited $11,500 into an investment account. She believes that she will earn an…

A: Value of sister's investment account in 7 years is calculated using following equation Future value…

Q: Your grandmother invested $1,000 for you the day you were born. How much will this investment be…

A: Data given: Principal (PV)=$1000 n=30 years Rate= 6% (compounded quarterly)   Required: FV of this…

Q: Eve is 20 years old and wants to save $2 million for retirement at age 60. Assume she invests in a…

A: A study that proves that the 1value of money today is higher than the future value of money is term…

Q: When my father passed away I inherited a back account containing $18,000 earning 4% effective annual…

A: Money is being shuffled from one account to another account earning a higher interest rate. The…

Q: She arranged to receive $45,000 the first year. Because of inflation each year she will get $580…

A: A regular payment received by retired people is called pension. Inflation is the increase in general…

Q: additional deposits or withdrawals for the accounts. Which statement is true concerning Sebastian’s…

A: the correct option is (c)

Q: When Christian bought his home, he borrowed $315,700 at 4.2% interest, compounded monthly for 25…

A: Loan amount (PV) = $315,700 Interest rate = 4.2% Monthly interest rate (r) = 4.2%/12 = 0.35% Period…

Q: Your grandma invested some money 64 years ago into an account earning 4.91% per year, compounded…

A: Value now (FV) = $ 11804 Interest rate = 4.91% Quarterly interest rate (r) = 4.91%/4 = 1.2275%…

Q: Gina deposits her inheritance into an account earning interest of 4% compounded annually. She will…

A: A/P = 2 (because Gina wants her inheritance to double)r = 4% = 0.04n = 1 (since it's compounded…

Q: Leon and Heidi decided to invest $2,750 annually for only the first Nine years of their marriage.…

A: A sum's present value after it has increased with compound interest for a predetermined number of…

Q: Alice has $60,000 in a savings account that earns 8 %  interest per year.  The interest is not…

A: Here in this question, we are require to calculate simple interest for 4 years. Formula for simple…

Q: Komiko Tanaka invests $13,000 in LymaBean

A: Capital gain can be short-term or long-term based on the time period. If the asset is sold in one…

Q: Find the current after-tax value of Noah's account if it was set-up as   (i) a Traditional…

A: Retirement account may be defined as the account which is provided by the United States to provide…

Q: Your aunt has $550,000 invested at 5.5%, and she now wants to retire. She wants to withdraw $45,000…

A: Given: Particulars Amount Present value(PV) $550,000 Interest rate (Rate) 5.50% Payment…

Q: Suppose Jennifer deposits $500 in an account at the end of this year. $400 at the end of the next…

A: We need to use compound interest formula to solve this problem A =P(1+i)n Where A= final payment…

Q: Your older sister deposited $2500 today at 6.5 percent interest for 15 years. However, you can only…

A: Sister Deposit = 2500 Interest rate = 6.5% N = 15   You Deposit = ? Interest Rate = 6.25% N = 15

Q: Annette has just inherited $180,000. She invests this money at a rate of return of 6.47% per year…

A: Given: Present value $180,000 Rate 6.47% Another annuity $2,851 Years 20 Compounding…