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Sam refuses to retire until his retirement account has a balance of at least $ 415,657 . Sam refuses to make any more deposits in
Sam refuses to retire until his retirement account has a balance of at least $ 415,657 . Sam refuses to make any more deposits in the account. The account currently has a balance of $ 133,800 and earns 6% per year, compounded semi-annually. How long does Sam have before he will retire? (You are computing number of years. Round your answer to one decimal place. For example, record 14.294 years as 14.3). The Milken Company is offering you an investment that promises you $10,000 at the end of 8 years if you invest $ 7,283 today. What is the annual return on this investment? (Compute your answer as a percent rounded to 2 decimal places. Record without a percent sign. For example, record .0848765 = 8.48765% as 8.49) How much must you deposit in an account today so that you have a balance of $ 20,637 at the end of 9 years if interest on the account is 16 % p.a., but with quarterly compounding? (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign). Assume that you deposit $ 859 each year for the next 15 years into an account that pays 11 percent per annum. The first deposit will occur one year from today (that is, att - 1) and the last deposit will occur 15 years from today (that is, at t = 15). How much money will be in the account 15 years from today? (Round your answer to 2 decimal places; record your answer without commas and without a dollar sign)
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