This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes ... (Read 951 times)

@Brianna17

  • Hero Member
  • *****
  • Posts: 550
on: Feb 2, 2020

Question 1

Solve the problem. Round to the nearest dollar.

Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every month in an IRA that pays 4.25% compounded monthly. How much will you have from the IRA when you retire at age 65? Find the interest.
◦ $119,567; $73,967
◦ $12,735,807,037,013; $12,735,806,991,413
◦ $146,390; $100,790
◦ $118,696; $73,096

Question 2

Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest?

A = A = P =

Periodic Deposit: $? at the end of each year
Rate: 8% compounded annually
Time: 12 years
Financial Goal: $82,000
◦ $6667; $80,004 from deposits and $1996 from interest
◦ $4926; $59,112 from deposits and $22,888 from interest
◦ $4321; $51,852 from deposits and $30,148 from interest
◦ $7709; $46,254 from deposits and $35,746 from interest
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by @Brianna17 on Feb 2, 2020

maaaaaaaaaa

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Feb 2, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 45% of students answer this correctly


Justin Berrios

  • Newbie
  • *
  • Posts: 1
Reply #2 on: Nov 1, 2020
Thank you


Nadia Elmasri

  • Newbie
  • *
  • Posts: 1
Reply #3 on: Mar 11, 2021
thank you.


« previous next »
 

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Round and wrinkled phenotypes Round and wrinkled phenotypes
The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p The world has been horrified recently at a U.S. Congress so polarized and paralyzed that it cannot p
Characteristics of the individual determine (a) whether they will be exposed to certain stressors ... Characteristics of the individual determine (a) whether they will be exposed to certain stressors ...
Initiation of a new round of replication before completion of the preceding round Initiation of a new round of replication before completion of the preceding round
Determine exact value of tan2x,sin2x, and cos2x Determine exact value of tan2x,sin2x, and cos2x
Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ... Nitin earns $48,000 per year. Determine his gross earnings for each pay period if he is paid ...
Video: Passive Smoke Exposure

For a complete list of videos, visit our video library