Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA, earning 7 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA earning 7 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment alsochanged to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time.Click the table icon to view the future value FVIFA table:With annual investments and compounding, after 20 years, Shaylea would have $(Round to the nearest cent.)Data table(Click on the following iconn1234567891011121314in order to copy its contents into a spreadsheet.)Future Value of a Series of Annual Deposits (annuity), Future-Value Interest Factor of an Annuity3%4%7%8%9%10%11%1.0001.0002.0303.0914.1845%1.0002.0503.1536%1.0002.0603.1841.0002.0403.1224.2465.4166.6331.0002.0703.2154.4401.0002.0903.2784.5735.9852.1003.3104.6411.0002.1103.3424.7103.3744.7794.3104.3755.5265.6375.7516.3538.1156.8026.9757.8988.1428.3949.5495.3096.4687.6628.892 9.21410.159 10.58311.464 12.00612.808 13.48615.02616.62711.02710.08912.30014.77617.54920.65524.13328.02914.19215.61832.3931.0002.0803.2464.5065.8676.105 6.2287.153 7.336 7.523 7.716 7.9138.6548.923 9.2009.4879.7839.897 10.260 10.637 11.028 11.436 11.85911.491 11.978 12.488 13.021 13.579 14.16412.578 13.181 13.816 14.487 15.193 15.937 16.72214.20714.972 15.784 16.645 17.560 18.531 19.56115.917 16.870 17.888 18.977 20.141 21.384 22.71317.713 18.882 20.141 21.495 22.953 24.523 26.21217.086 18.292 19.599 21.015 22.550 24.215 26.019 27.975 30.09518.599 20.02421.579 23.27625.12927.152 29.36131.772 34.40520.157 21.825 23.657 25.673 27.888 30.324 33.003 35.950 39.19021.762 23.698 25.840 28.213 30.840 33.750 36.974 40.545 44.50123.414 25.645 28.132 30.90633.999 37.450 41.301 45.599 50.39625.117 27.671 30.539 33.760 37.379 41.446 46.018 51.15956.93926.870 29.77833.066 36.786 40.995 45.762 51.160 57.275 64.20328.676 31.969 35.719 39.99344.865 50.423 56.765 64.002 72.26581.69930.537 34.248 38.505 43.392 49.006 55.457 62.87371.403 81.214 92.50332.453 36.618 41.430 46.996 53.436 60.893 69.532 79.543 91.148 104.60334.426 39.083 44.502 50.816 58.177 66.765 76.790 88.497 102.174 118.15536.459 41.646 47.727 54.865 63.249 73.106 84.701 98.347 114.413 133.33447.575 56.085 66.439 79.058 94.461113.283 136.308 164.494 199.021 241.33375.40195.026 120.800 154.762 199.635 259.057 337.882 442.593 581.826112.797 152.667 209.348 290.336 406.529 573.770 815.084 1163.909 1668.77137.28042.75348.88455.75063.44072.052767.0912400.018151617181920212223242530405012%1.0002.120X

Future Value of an Annuity deposit =

Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA, earning 7 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time.

Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA, earning 7 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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