Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help me solve this plzz round to 2 places #1 Derek can deposit $11,000 on each birthday beginning with his 26th and ending with his
help me solve this plzz round to 2 places
#1 Derek can deposit $11,000 on each birthday beginning with his 26th and ending with his 65th. What will the rate on the retirement account need to be for him to have $3,000,000 in it when he retires on his 65th birthday? Submit Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434)) unanswered not submitted Attempts Remaining: Infinity #2 Derek can deposit $13,401.00 on each birthday beginning with his 28.00th and ending with his 65.00th. What will the rate on the retirement account need to be for him to have $3,047.962.00 in it when he retires? Submit 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) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started