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Author Question: You are 30 years old and you want to retire at age 60 with $1.5 million. You are going to make equal ... (Read 40 times)

Sportsfan2111

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Question 1

What is the future value of an annuity due that pays $500 per year for each of the next three years if the interest rate is 6%?
◦ $1,591.80
◦ $1,687.31
◦ $546.35
◦ $2,123.25
◦ $2,250.65

Question 2

You are 30 years old and you want to retire at age 60 with $1.5 million. You are going to make equal annual deposits into your savings account at the end of each year in order to save up this money. Your savings account pays 8% interest. What amount must you deposit each year?
◦ $13,241.15
◦ $12,160.93
◦ $14,227.80
◦ $13,274.34
◦ $14,506.85


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Marked as best answer by Sportsfan2111 on Apr 25, 2021

dudman123

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Sportsfan2111

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Reply 2 on: Apr 25, 2021
Excellent


bdobbins

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Reply 3 on: Yesterday
Gracias!

 

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