How much money did he have for retirement?

Q: Georgi Rostov deposits $4,000 in a savings account that pays 8% interest compounded monthly. Three…

A: Future value is the value of the current amount at some future date after adjusting it with the…

Q: At age 18, Susan did nothing. She waited until she was 28 to start depositing $2000 per year at the…

A: Annuity, A = $ 2,000Interest rate, r = 12%Number of annuities = n = 65 - 28 = 37

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: At two years of age, Deja was given $700,000. The amount is put into a trust earning 5% monthly. If…

A: It is being given that when the withdrawals of certain amounts being made over the period of time…

Q: Twenty years ahead of her retirement, Kelly opened a savings account that earns 5% interest rate…

A: The future value of the annuity is the future worth of a cash flow series at a certain rate of…

Q: Ali contributed $1,000 per year for the past 9 years into an RRSP account, earning 3.8% compounded…

A: a) Ali leaves this amount ($10,496.48) for additional 5 years therefore, the worth after 5 years…

Q: Kyler deposits $225 each month into an annuity at 6.2% annual interest for 25 years . At the end of…

A: Solution:- When an amount is invested somewhere, it earns interest on it. The amount initially…

Q: At age 18, Marcia started depositing $2000 per year at the end of each year into an account earning…

A: Annuity, A = $ 2,000Rate of interest = r = 12%number of annuities, n = 8

Q: Eugene began to save for his retirement at age 26, and for 10 years he put $ 425 per month into an…

A: Here we have to use the concept of future value to determine the retirement amount.  The amount…

Q: Nine  years  from  now,  Sam  wants  to  have  an  amount  available  to  deposit  into  an  account…

A: ANSWER GIVEN ON THE NEXT SHEET

Q: Kathryn, believing that life begins at 40, decided to retire and start enjoying life ar age of 40.…

A: To calculate the present value from the given future value for the given rate and specified period…

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: How much money can he receive on his 18th birthday, if he decided to withdraw all the money at once?

A: Time value of money (TVM) refers to the method used to measure the amount of money at different…

Q: Ivana deposits $2000 annually into a Roth IRA that earns 6.85% compounded annually. Due to a…

A: Annual deposit for 10 years = $ 2000 Annual interest rate = 6.85% Period of future value = 25+10 =…

Q: James plans to fund his individual retirement account, beginning today, with 20 annual deposits of…

A: Future Value:   The future value is the amount that will be received at the end of a certain period.…

Q: Helen contributed $500 at the end of every month for the past 5 years into an RRSP account, earning…

A: Annuity means series of no. of finite payments which are same in size and made in equal intervals.…

Q: Shiraz deposited $500 at the end of each year for 18 years in a savings account. If the account paid…

A: Using the Future value function in excel

Q: Jim wants to deposit an amount anually to meet his retirement needs. Assume that he will deposit a…

A: In the span of 25 years, the interest rate is 6% on both the deposits and the withdrawals. First…

Q: At the age of 35 John began contributing 10,500 Php every month to a retirement fund. If his money…

A: Using excel nper function

Q: Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns…

A: We will use the concept of time value of money here. As per the concept of time value of money the…

Q: Today is Hanan 23rd birthday. Starting today, Hanan plans to begin saving for her retirement. Her…

A: Annual Deposit =$1000 Amount Provided by her aunt = $10000 Years(n) = 42 Inteerst Rate(r) =10% =…

Q: Antonio Sy started working for the ABC Corporation on his 25th Birthday. Each month P30 was withheld…

A: Here,

Q: Since the birth of his granddaughter, 18 years ago, Luis has deposited $250 at the beginning of…

A:

Q: Since the birth of his daughter, 17 years ago, Derek has deposited $150.00 at the beginning of every…

A: Here Derek is making paying at the beginning of the months, so this is annuity due. When payments…

Q: Ed who was then 26 years old planned to retire at the age of 56 years and so he purchased an…

A: Let the annual amount of annuity = A Annuity payments (n) = 30 Annual income from 56th birthday = P…

Q: Since the birth of his granddaughter, 18 years ago, Kristen has deposited $300 at the beginning of…

A:

Q: Since the birth of his granddaughter, 20 years ago, Jason has deposited $200 at the beginning of…

A: 1. FVA after 7 years   = P * (([1 + I]^N - 1 )*(1+I))/I, where P is the payment amount= 200 I is…

Q: Mrs. Kimberly deposited P 300, 000 in an account earning 8% compounded every 6 months. On the 2th…

A: Compound interest: Compound interest denotes an interest computed on the total initial deposits and…

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: Since the birth of her daughter, 20 years ago, William has deposited $50 at the beginning of every…

A: Time period is 20 years Monthly deposit is $50 Interest rate for first 8 years is 5.10% Interest…

Q: On Juan’s 26th birthday, he invested $7,500 in a retirement account. Each year thereafter he…

A: A concept through which it is studied that the current worth of money is higher than its future…

Q: For 30 years, lilly contributed $180 every month to savings accountthat earns 1.6%…

A: Balance at the end of 45 years will be future value of monthly savings

Q: Omar was given $1,000,000 on his 2nd birthday. The money is put into an account that pays 4%…

A: Annuity refers to series of equalized payments that are paid or received at start or ending of…

Q: On Juan’s 26th birthday, he invested $7,500 in a retirement account. Each year thereafter he…

A: Rate of interest=5%,0.05               Time=35 Number of years=10Amount=Principal1+rateyears…

Q: At the time of her grandson's birth, a grandmother deposits $12,000 in an account that pays 3.5%…

A: Amount deposited =$12,000 Interest rate = 3.5/12 = 0.21666667% Years = 21 Terms of compounding =…

Q: For 12 years, at the beginning of every month, Elsa deposits $200 into a savings account. Once the…

A: The cumulative value of an investment is the entire amount it now possesses, including the money…

Q: Since the birth of his granddaughter, 20 years ago, Jacob has deposited $100 at the beginning of…

A: Monthly Deposit = 100 Beginning of period deposits   First 11 years: Interest Rate = 4.50%/12  Time…

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: When she was 6 years old, Jane’s parents set up an annuity for her college education, with the first…

A: Since, the payments are semiannual, Number of payment periods = 2 * years  Since payment will…

Q: How much money did he have for retirement?

A: Future Value of Annuity: It is the future worth of the present annuity stream cash flows and is…

Q: Peter makes a deposit at the end of every three months into a savings account that earns interest at…

A: Interest earned on savings - 3.2% quarterly Period for which it is saved - 9 years Conversion of…

Q: A woman makes $200 contributions at the end of each month to a retirement account for a period of 10…

A: Value at end of contribution period is calculated by future value of annuity formula in excel i.e.…

Q: Joe Hernandez has inherited $25,000 and wishes to purchase an annuity that will provide him with a…

A: Time value tells that money received today is of more value than that of receiving the exact value…

Q: On his 21st birthday, Silver put P300,000 into a retirement fund account that pays 10% interest per…

A: we need to use compound interest formula to calculate value of retainment fund at the age of 65…

Q: Five years ago, alex  loaned his son Liam $20,000 to start a business. A note was executed with an…

A: Notes: A liability account for notes payable is kept in a company's general ledger. Promise to pay…

Q: Sam started working for the LED company on his 25th Birthday. Each month P30 was withheld from his…

A: Cash Flow Diagram is any important aspect of visual accounting . This visually presents the income…

Q: Earl E. Bird has decided to start saving for his retirement. Beginning on his twenty-first birthday,…

A: given, Earl: A=$2000 r=7% n = 10 years  then kept the amount idle for 35 years Ivana: A=$2000 r=7%…