You expect to retire in 30 years. After you retire, you want to be able to withdraw $4,500 from your account each month for 15 years. If your account earns 4% interest compounded monthly, how much will you need to deposit each month until retirement to achieve your retirement goals?

Q: You have $3,500 on a credit card that charges a 15% interest rate. If you want to pay off the credit…

A: Given Information:Present value in the credit card is .Rate of interest is .Number of years is 5…

Q: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

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

A:

Q: To save for retirement, you decide to deposit $1000 into an IRA at the end of each year for the next…

A: PMT = 1000N = 30 years Rate = 10%

Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

Q: Suppose you invest $190 at the end of each month for 6 years into an account earning 6% annual…

A: Given:Principal (P)=$190rate (r)=6%/100=0.06/12months=0.005n=6 years x 12= 72Formula:FV=P*(1+r)n-1…

Q: Maura received $1000 from friends and family for college graduation. If she deposits her money into…

A:

Q: A deposit of $3, 000 earns 2% interest compounded semiannually. How much money is in the bank after…

A:

Q: Karen wishes to have $17,730 cash for a new car 5 years from now.  How much should be placed in an…

A: Given: Karen wants $17,730 after 5 years. The interest is compounded weekly with a rate of 6%. To…

Q: Find the final amount of money in an account if $7, 600 is deposited at 6.5% interest compounded…

A:

Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

Q: A community outreach program wants to set up a scholarship fund for students who demonstrate…

A: Formula for compound interest is,Intererst=invested amount1+interest ratenumber of times interest…

Q: If you deposit 4000$ into an account paying 6% annual compound interest monthly, how much will be in…

A: NOTE: Refresh your page if you can't see any equations. . P=4000 r=6%=0.06 n=12 for monthly compound…

Q: City Wide Delivery Service uses vans costing $24,800 each. How much will the have to invest today to…

A:

Q: Find how much interest $25,000 earns in 4 years in a certificate of deposit paying 9.5% interest…

A:

Q: Jeff has 5 years to save enough money to pay certain debt in full. During that time, he deposits…

A: If the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount, P…

Q: You want to be able to withdraw $45,000 from your account each year for 30 years after you retire.…

A: