The value of a retirement savings account with an annual contribution of $600 (contributions made at the end of each year, including the last year), and an APR of 5.4% after 40 years is $79,960.27.Find the value of this retirement savings account after 52 years. Round your answer to the nearest cent.OA. $151,304.82OB. $165,660.72OC. $160,075.29OD. $154,695.52OE. $169,319.35

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Answered: The value of a retirement savings…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Find the value of a retirement savings account with an annual contribution of $1700(contributions made at the end of each year, including the last year), and an APR of 5.5% after the given number of years. When the annual contribution is $1700, the value of a retirement savings account paying an APR of 5.5% after 40 years is:(a) 40 years (b) 50 years (c) 54 years
Find the valuo of a retiroment savings account paying an APR of 5.8% aftor 30 yoars (contributions made at the end of each year, including the last year) when the annual contribution is shown (a) $1300 (b) S740 (c) $1900 (a) When the annual contribution is $1300, the value of a retirement savings account paying an APR of 5 8% after 30 years is $ (Do not round until the final answer Then round to the nearest cent as needed) (b) When the annual contribution is $740, the value of a retirement savings account paying an APR of 5 8% after 30 yoars is $ (Do not round until the final answer Then round to the nearest cent as needed) (e) When the annual contribution is $1900, the value of a retroment savings account paying an APR of 5 8% after 30 years is $ (Do not round until the final answer. Then round to the nearest cent as noeded)
If $875 000 is saved for retirement, what rate of interest, compounded semi-annually, will provide payments of $20 000 at the end of every 6 months for the next 25 years? Select one: O a. 1073568% O b. 4.396189% O c. 2.147135% O d. 1.113415%
Every year you deposit $3,500 into an account that earns 19% interest per year, What will be the balance of your account immediately after the 40th deposit? Click the icon to view the interest and annuity table for discrete compounding when / 1% per year. Choose the correct answer below. O A. $165,837 O B. $123,795 OC. $171,102 OD. $172,813 OE. $140,000
If $650 000 is saved for retirement, what rate of interest, compounded monthly, will provide payments of $3750 every month for the next 25 years? Select one: O a. 14.606797% O b. 0.811327% O c. 4.888702% O d. 4.867963%
A perpetuity pays $85 per year and costs $3,580. What is the rate of return? Select the correct answer. O a. 4.17% Ob. 3.27% O c.0.57% d. 2.37% O e. 1.47%
What should be the balance in a Registered Retirement Income Fund (RRIF) that will provide $2,500 at the beginning of each month for 6 years, if the RRIF earns 3.50% compounded quarterly? $0.00 Round to the nearest cent
What is the monthly payment for a home costing $475,000 with a 20% down payment and the balance financed for 30 years at 6.5%? (a) State the type. A. present valueB. future value C.ordinary annuityD.amortizationEsinking fund (b) Answer the question. (Round your answer to the nearest cent.)
Calculate the present value of a retirement fund if you put $1,750 in your savings account at the end of each of each quarter for the next 35 years? Assume that your savings account pays 8% compounded quarterly. O $20,277.13 O$82,030.04 O $83,670.64 O None of the answers are correct
Find the amount accumulated FV in the given annuity account. (Assume end-of-period deposits and compounding at the same intervals as deposits. Round your answer to the nearest cent.) $200 is deposited monthly for 10 years at 6% per year in an account containing $9,000 at the start FV = $ 49150 Need Help? Read It Watch It Submit Answer
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