FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show work using excel FV, PV, RATE, NPER. Zina has a retirement account with a balance of $125,000. Her goal is to reach a

image text in transcribedPlease show work using excel FV, PV, RATE, NPER.

Zina has a retirement account with a balance of $125,000. Her goal is to reach a balance of $2,000,000 in the account. Assuming an annual rate of 10.5% and a monthly investment of $750, how long will it take Zina to reach her goal of $2,000,000? 27 years (approx) 41.6 years (approx) 21.9 years (approx) 33.5 years (approx)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Financial Management For Public Health And Not-for-Profit Organizations

Financial Management For Public Health And Not-for-Profit Organizations

Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell

7th Edition

1071835335, 978-1071835333

More Books

Students also viewed these Finance questions

Question

★★★★★
Ken Tuckie is about to buy a 25-year annuity that will deliver end-of-month payments. The first payment will be $1000. How much more will it cost to index the annuity so that payments grow at the...

Answered: 1 week ago

Question

★★★★★
P(Xgreater than 44 )equals (Round to four decimal places as needed.)

Answered: 1 week ago

Question

★★★★★
_____ 14. The coach of your sports team berates players at a team meeting for lackluster play and lackadaisical attitudes. The coach is shouting and abusive. You believe the criticism is mostly...

Answered: 1 week ago

Question

★★★★★
Chenango Industries uses 10 units of part JR63 each month in the production of radar equipment. The cost of manufacturing one unit of JR63 is the following: Direct material ................. $1,000...

Answered: 1 week ago

Question

★★★★★
Please show work using excel FV, PV, RATE, NPER. Zina has a retirement account with a balance of $125,000. Her goal is to reach a balance of $2,000,000 in the account. Assuming an annual rate of...

Answered: 1 week ago

Question

★★★★★
KoralGables Construction Co. began operations in 2023. Construction activity for 2023 is shown below. KoralGables recognizes revenue upon completion of the contract. Which of the following should be...

Answered: 1 week ago

Question

★★★★★
Why does Barcelona COO Scott require managerial candidates write an essay about their experiences on the stage two "shop?" to determine the candidate's experience working with others to determine the...

Answered: 1 week ago

Question

★★★★★
Number 1 and 2 show all work please ? 1) Based on the graph below estimate the instantaneous velocity at the following times: (a) 1.0 s; (b) 2.5 s; (c) 3.5 s; (d) 4.5 s; (e) 5.0 s; x (m) 15 10 5 0 t...

Answered: 1 week ago

Question

★★★★★
5. Can you think of an example of another contentious issue that has been framed in an "either- or" way? What would be an ethically ideal way to resolve this issue and why?

Answered: 1 week ago

Question

★★★★★
What is a verb?

Answered: 1 week ago

Question

★★★★★
Mara Isabel Miln escribe una propuesta (proposal) para abrir un albergue (safe house) para mujeres maltratadas. Completa su propuesta con la forma correcta de las siguientes palabras. disfrutar...

Answered: 1 week ago

Previous Question Next Question