Lovely is now 19 years old asnd would want P2.5 million on her 45th She intends to make 11 annual deposits to earn 9 percent per annum and subsequently rollover the amount she would have in her 30th birthday until her 45th year. How much should be her annual deposit for the next 11 years?

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A: Computation of the money that will be saved by Abby at the completion of 8 years is shown:

Q: UVW will invest £1, 600 per quarter for her retirement at 3% compounding quarterly for 32 years. She…

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A: Inflation:  The Wholesale Price Index's (WPI) annual percentage change in value is known as…

Q: Allison is 26 years old and plans to retire at age 65 with $1,180,000 in her retirement account.…

A: Compound = Daily = 365Time = t = 39 * 365 = 14,235Future Value = fv = $1,180,000Interest Rate = r =…

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Q: I want 800000 for retirement in 25 years. How much would she need to deposit into the account each…

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Q: At age43, you start saving for retirement. If your investment plan pays an APR of 5%and you want to…

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Q: Ann invests $1000 today in an investment that has APR of 9.8% and is compounded monthly. How much…

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Q: my is now (year 0) 25 years old and planning for her retirement at age 65. She would like to have $2…

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Q: Catherine Dohanyos plans to retire in 20 years. She will make 20 years of monthly contributions to…

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A: Paying someone or something, or being compensated, is an event or a procedure.

Q: An engineer planning for her retirement will deposit 15% of her salary each year into a stock fund.…

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Q: Poonam wants to invest in an account today to have S4000 at the end of 8 years. If she can invest at…

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Effective Interest Rate

The term interest rate can be defined as the amount that is charged by the lender as a percentage on the principal amount. Interest rate which is charged annually is known as annual percentage rate.