Leon and Heidi decided to invest $2,750 annually for only the first Nine years of their marriage. The first payment was made at age 25. If the annual interest rate is 9%, how much accumulated interest and principal will they have at age 70?
Q: How much money will there be in the account?
A: solution A= R(1+i)n+1/i R= Contribution half year=$425 n= number of periods=48 years - 33 years =15…
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- Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 10%, how much accumulated interest and principal will they have at age 65?Leon and Heidi decided to invest $2,750 annually for oply the first nine years of their marriage. The first payment was made at age 20. Irude annual interest rate is 8%. how much accumulated interest and principal will they have at age 65? Scor The accumulated interest and principal will equal S (Round to the nearest dollar)Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 10%, how much accumulated interest and principal will they have at age 65? Click the icon to view the interest and annuity table for discrete compounding when i= 10% per year. The accumulated interest and principal will equal $ (Round to the nearest dollar.)
- Leon and Heidi decided to invest $3,250 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 8%, how much accumulated interest and principal will they have at age 65? Click the icon to view the interest and annuity table for discrete compounding when i=8% per year *** Save The accumulated interest and principal will equal $ (Round to the nearest dollar.)Pat and Joe are divorced. The divorce settlement stipulated that Joe pay $525 a month for their daughter until she turns 18 in four years. How much must Joe set aside today to meet the settlement? Interest is 6% a year.When Joe and Sarah graduate from college, each expects to work a total of 45 years. Joe begins saving for retirement immediately. He plans to deposit $625 at the end of each quarter into an account paying 8.1% interest, compounded quarterly, for 10 years. He will then leave his balance in the account, earning the same interest rate, but make no further deposits for 35 years. Sarah plans to save nothing during the first 10 years and then begin depositing $625 at the end of each quarter in an account paying 8.1% interest, compounded quarterly for 35 years. Complete parts (a) through (e) below. a. Without doing any calculations, predict which one will have the most in his or her retirement account after 45 years. Then test your prediction by answering the following questions. Choose the correct answer below. OA. Sarah will have more in her account after 45 years. Joe earned interest for 10 more years than Sarah, but Sarah contributed monthly payments for a lot longer than Joe. B. Joe will…
- Sherry has a goal of retiring with $427,480 by making weekly deposits into an investment account whose annual interest rate is 1.1%. If she will retire in 25 years, how much interest will she earn?When Joe and Sarah graduate from college, each expects to work a total of 45 years. Joe begins saving for retirement immediately. He plans to deposit $600 at the end of each quarter into an account paying 8.1% interest, compounded quarterly, for 10 years. He will then leave his balance in the account, earning the same interest rate, but make no further deposits for 35 years. Sarah plans to save nothing during the first 10 years and then begin depositing $600 at the end of each quarter in an account paying 8.1% interest, compounded quarterly for 35 years. Complete parts (a) through (e) below. a. Without doing any calculations, predict which one will have the most in his or her retirement account after 45 years. Then test your prediction by answering the following questions. Choose the correct answer below. O A. Joe will have more in his account after 45 years. Sarah contributed more money overall, but Joe was earning 8.1% interest per quarter for 35 years. Sarah will have more in her…Ashley invests $250 a month in her 401(k) retirement account, which earns an 8 percent annual return. After 35 years, how much money will she have in the account over and above the amounts she will contribute through the years?
- When Joe and Sarah graduate from college, each expects to work a total of 45 years. Joe begins saving for retirement immediately. He plans to deposit $550 at the end of each quarter into an account paying 7.1% interest, compounded quarterly, for 10 years. He will then leave his balance in the account, earning the same interest rate, but make no further deposits for 35 years. Sarah plans to save nothing during the first 10 years and then begin depositing $550 at the end of each quarter in an account paying 7.1% interest, compounded quarterly for 35 years. Complete parts (a) through (e) below. .. a. Without doing any calculations, predict which one will have the most in his or her retirement account after 45 years. Then test your prediction by answering the following questions. Choose the correct answer below. O A. Joe will have more in his account after 45 years. Sarah contributed more money overall, but Joe was earning 7.1% interest per quarter for 35 years. O B. Both Joe and Sarah…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?Elif received a bonus of $100,000 at the age of 30 and she decides to invest this money to a savings account with the annual interest rate of 6.8%. At what age she should retire, so that she has $1,000,000 in her savings account when she is retired?
