Madalyn wants to have $180,000 in her retirement account in 35 years. She found an investment with an APR of 2.05%. 2. How much will she need to deposit each month? Write the formula used. Show the values substituted into the formula. Calculate the result. Round your answer to the nearest whole cent. 3. Calculate the total amount that Madalyn will deposit into the account over the 35 years.

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A: The concept of TVM will be used and applied here.TVM refers to time value of money.

Q: An engineer will deposit 10% of her salary each year into a retirement fund. If her current annual…

A: An Annuity is a series of payments of fixed amounts and at fixed intervals. These can be of two…

Q: Your financial advisor has encouraged you to save $500 each month for retirement. You expect to…

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Q: Terry Austin is 30 years old and is saving for her retirement. She is planning on making 27…

A: Future value is an estimate of future cash flows ​​that may be received at a future date, discounted…

Q: 11. Zoe has been depositing $900 every month into her retirement account for 35 years. The annual…

A: Depositing amounts regularly in an interest earning account will accumulate a large amount at the…

Q: 4. Nicky starts a retirement account at age 31, putting away $200 each pay period, of which she has…

A: The future value of a growing annuity is the future worth of an annuity which is growing at a…

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A: The concept of TVM refers to the interest-earning capacity of money because money earned earlier is…

Q: John and Diane need to have $397,000.00 available for retirement. How much will they have to invest…

A: Future value is the expected value of any current asset as per a growth rate.

Q: Heather is planning to retire in 10 years. She will then need an income of $1325 at the beginning of…

A: The compounding interest rate is more beneficial to an investor because the interest-earnings are…

Q: Sherry has a goal of retiring with $375,394 by making weekly deposits into an investment account…

A: Present value =Future amount/(1+r)n n=29 years  r=rate of interest =1.4%

Q: Sousan wants to save money for her retirement.  She plans on putting $200 into an Annuity each…

A: Formula:

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A: Annual savings refers to an amount that is kept aside or invested in some plan for the purpose of…

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A: The annuity formula can be used to calculate present value of all withdrawals at the time of…

Q: Linda would like to have a retirement account with $3,000,000 in it on the day she retires 40 years…

A: Solution:-When an equal amount is invested each periodat end of period, it is called ordinary…

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A: Present value of annuity is the current value of the future payments that are calculated using the…

Q: Tanya wants to be able to withdraw $7000 at the end of 7 years and $9000 at the end of 8 years. If…

A: Present value is the value of future cashflow discounted to present date at specified rate. formula:…

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A: PRESENT VALUE  Present Value is the Current Value of Future Sum of Money. Present Value = Future…

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A: Yearly deposit refers to an amount that is kept aside for the purpose of saving in any of the…

Q: Mary plans to invest some money so that she has $2,500 at the end of three years. Determine how much…

A: present value = future value1+rmm×n where, r=rate of interest n=number of years m=frequency of…

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A: We need to calculate the persent value of annuity  by using this formula.    PV of annuity =CF*…

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A: There is need of proper planning for the retirement and if there is proper planning on time better…

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A: The question requires finding out the number of payments in terms of the month when future value,…

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A: An annuity refers to a stream of cash flows that occurs on a periodic basis and the cash flow…

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A: we will find future value of each deposits and sum of all future values shall be equal to 20000

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A: Retirement planning is a means of planning to achieve financial independence in the future and to…

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A: Amount to be saved monthly = Total future amount needed / Present value annuity factor for the…

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A: Calculation of Time Period of Deposited Amount Simple Interest Formula  A = p (1 + rt) Here A =…

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A: We can use the concept of time value of money here. As per the concept of time value of money the…

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A: Retirement income refers to the funds and financial resources that an individual or household…

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A: Solution: An equal amount saved each period at beginning of the period is known as annuity due. We…

Q: Ms. Lee is thinking about her retirement fund and she still have another 15 years to reach her…

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