You are 20 years old today.  You plan to start saving for retirement on your 29th birthday in the amount of $6,468.863.  You will save the same amount on that birthday plus future birthdays for a total of 32 deposits.   Assume a rate of return of 7% compounded annually.   How much will be in your account when you turn 65?   Use the $ symbol and round to the nearest $....no cents...uses commas).   Hint...the last three numbers in your answer should be 000.

Q: Assume you deposit $4,200 at the end of each year into an account paying 10 percent interest. a. How…

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Q: Suppose that starting at age 25, you make steady contributions to a retirement account (with initial…

A: In the above question we are given Future value=815000 Rate=7% number of years=40 We have to…

Q: Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every…

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Q: How much would you need to deposit in the account each month?

A: Information Provided: Future value = $410,500 Years = 15 Interest rate = 6.5% Deposits frequency =…

Q: How much interest will you earn?

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: You plan on investing $1.900 every 4 years while earning 6% per year. How much money will you have…

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Q: You are saving for retirement. To live comfortably, you decide that you will need $2.5 million by…

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Q: You have decided to start a savings plan for your retirement. You plan to make an annual deposit of…

A: The objective of the question is to calculate the future value of a series of annual deposits of…

Q: Suppose you want to have $700,000 for retirement in 25 years. Your account earns 9% interest. a)…

A: a) Hence, amount to be deposited in each month is $624.37.

Q: Today you are opening a savings account and depositing an initial $5,000 into it. You plan to…

A: Maturity Value is that amount which will be received at the end of certain period of time. It…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 5% interest. Feel…

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Q: Suppose you deposit $1,500.00 into and account 7.00 years from today into an account that earns…

A: Future value is an estimated value of a current asset at an assumed growth rate over a certain…

Q: You plan to depost $5.300 a paying 10.3 percent interest & How much money will you have in the…

A: We can determine the FV of an annuity using the formula below:In the formula above, PMT = periodic…

Q: Suppose you want to have $700,000 for retirement in 30 years. Your account earns 10% interest. a)…

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

Q: Suppose you want to have $800,000 for retirement in 25 years. Your account earns 9% interest. a)…

A: Compound = Monthly = 12Future Value = fv = $800,000Time = t = 25 * 12 = 300Interest Rate = r = 9 /…

Q: You plan to deposit $6,000 at the end of each of the next 25 years into an account paying 10.3…

A: Future Value: The worth of a asset today at a future date based on an expected rate of growth is…

Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…

A: Annual rate (r) = 3% or 0.03Annual Payment (P) = $1,400Number of years (n) = 65 - 25 = 40Payment…

Q: You want to be able to withdraw $40,000 from your account each year for 25 years after you retire.…

A: Hi, since you have posted a question with multiple sub-parts, we will answer the first three, as per…

Q: Suppose you want to have $500,000 for retirement in 25 years. Your account earns 9% interest. a) How…

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Q: Suppose you want to have $400,000 for retirement in 35 years. Your account earns 4% interest. Round…

A: The present value is the current value of the amount that has to be paid or received in the future.

Q: You deposit $296 today into a bank account that earns 12% annually.  How much will be in your…

A:

Q: Suppose you wish to retire forty years from today. You determine that you need $50,000 per year once…

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Q: if your bank pays 3.73% interest, how much will you accumulate in the account at the end of 30 years

A: We can determine the accumulated amount using the FV of annuity due formula as below:In the formula…

Q: Suppose you plan to retire at age 70, and you want to be able to withdraw an amount of $60,000 per…

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Q: You plan to deposit $700 in a bank account now and $100 at the end of the year. If the account earns…

A: First we have tor calculate the future value of $700 deposit today and then we will add the second…

Q: Suppose you want to have $400,000 for retirement in 10 years. Your account earns 9% interest. Feel…

A: Compound = Monthly = 12Future Value = fv = $400,000Time = t = 10 * 12 = 120Interest Rate = r = 9 /…

Q: Suppose you want to have $600, 000 for retirement in 15 years. Your account earns 9% interest. Feel…

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Q: using excel: How much money must you invest today in order to withdraw the following monthly…

A: We need to use PV function in excel to calculate the amount needed today to get the annuity. The…

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A: Annuity refers to a stream of constant cash flows occurring at fixed intervals like monthly,…

Q: After learning about the time value of money, you decided to open a retirement account. You will…

A: The FV of an investment refers to the combined worth of the cash flows of the investment at a…