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 978 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?

Illicit drug use costs the United States approximately $181 billion every year.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Adult head lice are gray, about ? inch long, and often have a tiny dot on their backs. A female can lay between 50 and 150 eggs within the several weeks that she is alive. They feed on human blood.

The Periodic Table (Part 2) The Periodic Table (Part 2)
The periodic table of the elements The periodic table of the elements
How to determine if a quadratic equation has a maximum or minimum when given the roots How to determine if a quadratic equation has a maximum or minimum when given the roots
How to determine the commission of a sale How to determine the commission of a sale
Bone structure of a round fish Bone structure of a round fish
Electron configuration and how many electrons are needed to achieve the nearest noble-gas ... Electron configuration and how many electrons are needed to achieve the nearest noble-gas ...
Video: Proteins Defined, Hierarchy & Composition of Cells

For a complete list of videos, visit our video library