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 2993 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?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Approach used to determine the evolutionary relationships among many animal species using molecular Approach used to determine the evolutionary relationships among many animal species using molecular
Fibroid tumors, or leiomyomas. Fibroids develop from the uterus to form a variety of hard, round ben Fibroid tumors, or leiomyomas. Fibroids develop from the uterus to form a variety of hard, round ben
Tracking Goal-Setting Progress Tracking Goal-Setting Progress
The first step in the reprogramming procedure is to determine the current software installed using a ... The first step in the reprogramming procedure is to determine the current software installed using a ...
Determine the legnth of x to the nearest tenth of a metre Determine the legnth of x to the nearest tenth of a metre
Financial Management 4th Edition (Cengage) Financial Management 4th Edition (Cengage)
Video: Helper T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library