Question
A. Derek can deposit $16,139.00 on each birthday beginning with his 30.00th and ending with his 68.00th. What will the rate on the retirement account
A. Derek can deposit $16,139.00 on each birthday beginning with his 30.00th and ending with his 68.00th. What will the rate on the retirement account need to be for him to have $3,040,064.00 in it when he retires?
Answer Format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))
B. If Derek plans to deposit $11,483.00 into his retirement account on each birthday beginning with his 26th and the account earns 10.00%, how long will it take him to accumulate $2,950,498.00?
Answer Format: Number: Round to: 2 decimal places.
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