Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It earns 8% compounded annually. How much will Connie have after twenty years? Show formula and steps.

Q: how long in years and months will she receive the payments

A: RRSP: RRSP stands for Registered Retirement Savings Plan. RRSP is a kind of retirement savings and…

Q: wishes to provide herself, or her estate, with an income of $10,000 at the end of each year for 10…

A: Deposit A Amount = 10,000 End of year deposits N = 10 years   Deposit B Amount = 10,000 End of year…

Q: Andrea is depositing P4, 000 each month in an ordinary annuity that pays 2% interest compounded…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Maria's retirement fund has an accumulated amount of $50,000. If it has been earning interest at…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: Priscilla deposits $200 at the end of each month for seven years at 5% interest compounded monthly.…

A: Future Value = R [ (1+i)n - 1]i   where, R = Monthly deposits n = Number of months i = Interest Rate…

Q: Priscilla deposits $200 at the end of each month for seven years into savings account earning 5%…

A: Future Value is the value of current investments at a certain future date at the assumed…

Q: Gary decides to set up a retirement fund by depositing $182 at the end of each week for 17 years.…

A: Calculation of Amount at the end of 17 years:To calculate the amount at the end of 17 years, the…

Q: Crystal Nelson is 30 years old and she invests $3,300 in an annuity, earning a 8% compound annual…

A: PV = 0 N = 21 rate = 8% PMT = 3300 use FV function in Excel with type as 1

Q: Mattie Bookhout receives an annual bonus and deposits it in a savings account that pays 8%…

A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…

Q: Starting on his 25th birthday, Jason makes 20 semi-annual payments of P15,000 each in a savings…

A: Compound interest refers to the interest that is calculated on a deposit or loan on the basis of an…

Q: Thomas's retirement fund has an accumulated amount of $55,000. If it has been earning interest at…

A: Accumulated Value in retirement Account "FV" is $55,000 Interest rate is 2.44% Compounded monthly…

Q: Karen deposits 700 each month into an annuity that pays 12% annual interest at the end of each year.…

A: solution given Deposits each month (p) 700 Rate of interest (r) 12% Time period…

Q: Connie deposits $2000 at the end of each year into her Individual Retirement Account IRA. It earns…

A: Annuity: a contract that provides income for a specified period of years, or for life. Future value…

Q: Claire Fitch is planning to begin an individual retirement program in which she will invest $1,500…

A:

Q: Stephanie purchased an annuity that will provide her with payments of $1,500 every month for 4…

A: monthly rate of interest = (1 + 4.25%/2)1/6 - 1 = 0.3511%

Q: Starting at age 25, you deposit $2,000 a year into an IRA account. Treat the yearly deposits into…

A:

Q: Jake plans to contribute $3600 at the end of each year to his IRA. If he earns a return of 8.5%…

A: Future Value Future value  is the worth of any asset or any sum of money at a future date when such…

Q: Janice is hoping to save $200,000 by the time she retires in 20 years. How much must Janice deposit…

A: Future value is::$200000.. Contribution annually.. Rate of Interest is:::4%.... Required Deposit…

Q: When Jasmine retires she has $950,000 in a retirement account that earns 6% annual interest,…

A: Using PMT function in excel

Q: Jennifer invests $2,400 at the end of each year for 11 years in an ordinary annuity at 10% interest…

A: Periodic Payment = $2,400 Time Period = 11 Years Interest Rate = 10%

Q: Maria wishes to accumulate $8,000 by the end of 5 years by making equal, annual, end-of-year…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: Karen deposits 300 each month into an annuity that pays 8% annual interest at the end of each year.…

A: Future value of annuity =PMT [{(1+i) n-1}/i]*(1+i) Where i=periodic interest rate n=number of…

Q: Darien invests $10,000 in an account that pays 3.2% interest per year, compounded semi-annually.…

A: The amount of money can be calculated as future value of the principal amount.

Q: Aylene is preparing for an income fund for her retirement. She wants to receive 15,000 pesos…

A: The annuity payments that are made at the beginning of the year are called annuity due and the ones…

Q: At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8%…

A: Using FV function of excel

Q: Shelby purchases a retirement annuity that will pay her $3,000 at the end of every six months for…

A: Present value of the money would be price that maximum price that can be paid for that kind of…

Q: Mary plans to make the following contributions to her retirement account: $10,000 for each of the…

A: In order to find how much money she will have one has to calculate the future value after 20 years.

Q: une Watson is contributing ​$3,500 each year to a Roth IRA. The IRA earns 4.4​% per year. How much…

A: As per the time value of money, a dollar is worth more today than the same dollar in the future.…

Q: As part of her retirement planning, Mrs. Smith purchases an annuity that pays 16 % compounded…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: what will be the amount in the account upon your retirement?

A: Future value of the retirement account is the total value that an individual will be able to…

Q: Sehar has accumulated $245,000 in her retirement savings plan. When she retires in exactly 4 years…

A: Accumulated saving (A) = $245000 n = 4 years = 16 quarters r = 6% per annum = 1.5% per quarter Let…

Q: Bria has $450,000 saved for retirement in an account earning 2.4% interest, compounded weekly. How…

A: Future Value:-It is the value of an investment at a future date based on the growth rate. It helps…

Q: Ashley invests $250 a month in her 401(k) retirement account, which earns an 8 percent annual…

A: Monthly payment (P) = $ 250 Annual interest rate = 8% Monthly interest rate (R) = 8%/12 = 0.6667%…

Q: Robin wishes to accumulate a sum of $450,000 in a retirement account by the time of her retirement…

A: The value of an asset at a future date is called future value.

Q: How much will be in the account when the individual retires at age 65 if the savings program starts…

A: Future Value of Annuity: It represents the future worth of the present stream of annuity cash…

Q: Annie would like a retirement income of $4,000 per month (beginning of month payments) for 23 years…

A: Given:

Q: Gerein wishes to have P35,000 when he retires 15 years from now. If he can expect to receive 4%…

A: The future value of annuity due is the total future value of each cash flow which is made at the…

Q: After paying for their children's college education, Amy and Randy have $15,000 in annual savings.…

A: Annual saving (A) = $15000 r = 7.5% per annum n = 15 years We need to find the future value of…

Q: A man has deposited ₱50 000 in a retirement income plan with a local bank. This bank pays 9% per…

A: The provided information are: Deposit = 50,000 Rate of interest = 9% = 0.09 Time period = 12

Q: Aunt Tillie has deposited $33,000 today in an account which will earn 10 percent annually. She plans…

A: We need to calculate future value of investment by using this formula FV = PV(1+i)n where FV =Future…

Q: Don Harrison's current salary is $60,000 per year, and he is planning to retire 25 years from now.…

A: Excel Spreadsheet:

Q: Johnny deposits ₱45,000 in the Trust Savings Bank which pays 6% compounded monthly. How much will he…

A: Amount of money at the end of stipulated period can be calculated using the given formula: =…

Q: blake purchased an annuity that had an interest rate of 2.50% compounded semi- annually. it provided…

A: Solution- 2.50% interest rate semianually=2.52=1.25%=1.25100=1+r6-1=1+r=1.002072Monthly…

Q: Jasdeep plans to deposit $150 at the beginning of each month for 20 years. If the account earns 7.2%…

A: In finance, the term annuity shows the sequence of periodic cash flows over a particular time…