Suppose you want to have $400,000 for retirement in 30 years. Your account earns 5% interest.<\/p>
<\/p>
a) How much would you need to deposit in the account each month?<\/p>
<\/p>
b) How much interest will you earn?<\/p>
You deposit $2000 each year into an account earning 6% interest compounded annually. How much will you have in the account in 35 years?<\/p>
A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit each year into the account in order to have $70,000 saved up for when she goes to college in 18 years, assuming the account earns a 8% return.<\/p>
<\/p>
Annual deposit: $<\/p>
A company has a $190,000 note due in 3 years. How much should be deposited at the end of each quarter in a sinking fund to pay off the note in 3 years if the interest rate is 12% compounded quarterly?<\/p>
A firm needs to replace most of its machinery in 6 years at a cost of $570,000. The company wishes to make a sinking fund to have this money available in 6 years. How much should the monthly deposits be if the fund earns 10% compounded monthly?<\/p>
You deposit $400 each month into an account earning 6% interest compounded monthly.<\/p>
<\/p>
a) How much will you have in the account in 20 years?<\/p>
<\/p>
b) How much total money will you put into the account?<\/p>
<\/p>
c) How much total interest will you earn?<\/p>", "transcribed_text": "", "related_book": { "title": "Elementary Statistics", "isbn": "0321836960, 978-0321836960", "edition": "12th Edition", "authors": "Mario F. Triola", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/450.jpg", "uri": "\/textbooks\/elementary-statistics-12th-edition-450", "see_more_uri": "" }, "free_related_book": { "isbn": "0415348773", "uri": "\/textbooks\/culture-and-development-in-a-globalizing-world-1st-edition-978-0415348775-277031", "name": "Culture And Development In A Globalizing World", "edition": "1st Edition" }, "question_posted": "2024-06-28 06:34:21", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/if-money-is-worth-12-would-you-prefer-receiving-200000", "description": "If money is worth 12%, would you prefer receiving $200,000 now or $30,000 each year for the next 10 years? 1. What is the value of each amount 10 years from now? 2. What is todays present value of...", "stars": 3 }, { "url": "\/study-help\/psychology\/adapting-to-change-imagine-that-you-are-chronically-late-to-1982601", "description": "Adapting to Change Imagine that you are chronically late to work, and one day your boss announces that employees who come late will be fired. This forces you to begin arriving on time. Now imagine...", "stars": 3 }, { "url": "\/realtors-inc-specializes-in-the-sale-of-residential-properties-it", "description": "Realtors, Inc., specializes in the sale of residential properties. It earns its revenue by charging a percentage of the sales price. Commissions for sales persons, listing agents, and listing...", "stars": 3 }, { "url": "\/study-help\/questions\/please-solve-all-they-are-the-same-question-exercise-117-9860843", "description": "Please solve all, they are the same question Exercise 1-17 (Static) (L01-2) MarkLines is an online portal (www.marklines.com) that reports automotive Industry data. The table below shows the number...", "stars": 3 }, { "url": "\/study-help\/questions\/the-gross-margin-of-the-sportswear-department-is-42-1941433", "description": "The Gross Margin % of the Sportswear Department is 42%, The Net Margin % of this department is 5%. What % is the operating expenses? (10 pts.)", "stars": 3 }, { "url": "\/study-help\/questions\/7-in-a-large-water-tank-experiment-water-waves-are-961642", "description": "7. In a large water tank experiment, water waves are gener- ated with straight, parallel wave fronts, 3.00 m apart. The wave fronts pass through two openings 5.00 m apart in a long board. The end of...", "stars": 3 }, { "url": "\/study-help\/questions\/what-makes-shenzhen-development-bank-sdb-an-attractive-target-for-962661", "description": "What makes Shenzhen Development Bank (SDB) an attractive target for investment, and what are the potential sources of value? What are the key risks for investing in SDB, and how can Newbridge...", "stars": 3 }, { "url": "\/study-help\/questions\/40-kn-r15-a-circular-plate-of-diameter-120-mm-962802", "description": "40 kN R1-5: A circular plate of diameter 120 mm and thickness 10 mm is placed over a circular hole of diameter 60 mm in the ground. A circular shaft of diameter 50 mm sits on top of the plate and has...", "stars": 3 }, { "url": "\/study-help\/questions\/if-the-tape-timer-creates-dots-at-a-rate-of-3222709", "description": "If the tape timer creates dots at a rate of 28Hz, what time interval in seconds does 3 successive dotsrepresent?", "stars": 3 }, { "url": "\/study-help\/questions\/perceived-environmental-uncertainty-is-a-function-of-environmental-complexity-and-1055872", "description": "Perceived environmental uncertainty is a function of environmental complexity and: receptivity productivity change contingency Question 8 14 points", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/1the-bookkeeper-of-floore-company-records-credit-sales-in-a-4253417", "next": "\/study-help\/questions\/this-is-from-an-accounting-class-please-check-the-attachment-4253419" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "Suppose you want to have $400,000 for retirement in 30 years. Your", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/suppose-you-want-to-have-400000-for-retirement-in-30-4253418" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }1" } }