Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 06, 2024

If you invest $600 a year in a 401k that invests in an international stock mutual fund. Assuming an annual rate of 9% how much

If you invest $600 a year in a 401k that invests in an international stock mutual fund. Assuming an annual rate of 9% how much will this be worth if you are retiring in 40 years?

Answer : 202729.47 but what is the equation that gets me this answer?

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

Recommended Textbook for

Real Estate Investing Market Analysis Valuation Techniques And Risk Management

Authors: Benedetto Manganelli

1st Edition

3319063960,3319063979

More Books

Students also viewed these Finance questions

Question

★★★★★

How does preferred stock differ from common stock?

Answered: 1 week ago

Question

★★★★★

b. Which stock is riskier for a divers.fied investor? 1. For diversined investors the relevant risk is measured by beta. Therefore, the stock with the lower beta is riskler. Stock X thas the lower...

Answered: 1 week ago

Question

★★★★★

Can readers easily determine what is heading and what is text?

Answered: 1 week ago

Question

★★★★★

(Issuance and Retirement of Bonds) Venezuela Co. is building a new hockey arena at a cost of $2,500,000. It received a down payment of $500,000 from local businesses to support the project, and now...

Answered: 1 week ago

Question

★★★★★

Stock A has the following probability distribution of expected returns. What is Stock A's expected rate of return and standard deviation? Probability Rate o -15% 0.1 0.2 0.4 0.2 0.1 10 25 a. 5.0%;...

Answered: 1 week ago

Question

★★★★★

Refer to the graph shown below, which illustrates a third-party payer market for diabetes screenings (tests). Suppose that the co-payment is $5 per diabetes screening. What is the cost of this...

Answered: 1 week ago

Question

★★★★★

The terms "normal" and "inferior" are: Multiple choice question. the same for everyone, irrespective of income. used interchangeably. subjective to the incomes of people. based on the product sales...

Answered: 1 week ago

Question

★★★★★

A company wants to investigate if the average rating of consumers for a particular product is greater than 4.5 (on a scale of 1 to 10). They collect a random sample of 35 consumers and ask them to...

Answered: 1 week ago

Question

★★★★★

Q3. The number of days in succession that the probability professor gets to class on time can be represented by a random variable X with the pmf a. Find the value of k. b. Obtain the cdf of X. c....

Answered: 1 week ago

Question

★★★★★

Jason Company offered a contest in which the winner would receive P1,000,000 payable over twenty years. On December 31, 2019, Jason Company announced the winner of the contest and signed a note...

Answered: 1 week ago

Question

★★★★★

Time left 0:33:08 Valerie works as a salesperson for ABC Pharmaceuticals. She receives a commision of 6.8% on monthly sales up to $5392, 9% on the next $8017, and 14.3% on any additional sales during...

Answered: 1 week ago

Previous Question Next Question