Question
A.) You have $44,441.93 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your
A.) You have $44,441.93 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $280,000. You expect to earn 14% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number.
B.) An investment will pay $150 at the end of each of the next 3 years, $250 at the end of Year 4, $400 at the end of Year 5, and $500 at the end of Year 6. If other investments of equal risk earn 11% annually, what is its present value? Its future value? Do not round intermediate calculations. Round your answers to the nearest cent.
Present value: $
Future value: $
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