Homework Help is Here – Start Your Trial Now!
Business
Finance
Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA earning 9 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Click the table icon to view the future value annuity table E With annual investments and compounding, after 20 years, Shaylea would have $. (Round to the nearest cent.)

Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA earning 9 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Click the table icon to view the future value annuity table E With annual investments and compounding, after 20 years, Shaylea would have $. (Round to the nearest cent.)

Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 6E
See similar textbooks
icon
Related questions
Question
Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA earning 9 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Click the table icon to view the future va Data table With annual ivestments and compound 24.215 27.152 30.324 33.750 37.450 41.446 45.762 50.423 26.019 | 14 | 15 19.599 21.579 23.657 27.975 31.772 35.950 40.545 45.599 51.159 57.275 64.002 21.015 23.276 30.095 34.405 22.550 32.393 37.280 17.086| 18.292| 20.024 21.825 23.698 25.645 18.599 25.129 29.361 16 20.157 25.673 27.888 33.003 39.190 42.753 17 21.762 25.840 28.213 30.840 36.974 44.501 48.884 28.132 30.539 33.066 35.719 38.505 41.430 44.502 47.727 18 23.414 30.906 33.999 41.301 50.396 55.750 19 25.117 27.671 33.760 37.379 46.018 56.939 63.440 29.778 31.969 34.248 36.618 39.083 41.646 56.085 36.786 39.993 43.392 46.996 50.816 54.865 40.995 44.865 72.052 81.699 92.503 104.603 51.160 56.765 20 26.870 64.203 21 28.676 72.265 55.457 60.893 66.765 73.106 113.283 30.537 71.403 81.214 91.148 102.174 22 49.006 62.873 79.543 88.497 98.347 164.494 442.593 1163.909 23 32.453 53.436 69.532 24 34.426 58.177 76.790 118.155 133.334 241.333 36.459 47.575 75.401 112.797 63.249 94.461 25 84.701 114.413 136.308 199.021 581.826 1668.771 30 66.439 79.058 95.026 152.667 120.800 209.348 154.762 290.336 199.635 406.529 259.057 573.770 337.882 815.084 40 767.091 Help me solve this View a 50 2400.018 ar all Check answer Print Done
Transcribed Image Text:Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA earning 9 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Click the table icon to view the future va Data table With annual ivestments and compound 24.215 27.152 30.324 33.750 37.450 41.446 45.762 50.423 26.019 | 14 | 15 19.599 21.579 23.657 27.975 31.772 35.950 40.545 45.599 51.159 57.275 64.002 21.015 23.276 30.095 34.405 22.550 32.393 37.280 17.086| 18.292| 20.024 21.825 23.698 25.645 18.599 25.129 29.361 16 20.157 25.673 27.888 33.003 39.190 42.753 17 21.762 25.840 28.213 30.840 36.974 44.501 48.884 28.132 30.539 33.066 35.719 38.505 41.430 44.502 47.727 18 23.414 30.906 33.999 41.301 50.396 55.750 19 25.117 27.671 33.760 37.379 46.018 56.939 63.440 29.778 31.969 34.248 36.618 39.083 41.646 56.085 36.786 39.993 43.392 46.996 50.816 54.865 40.995 44.865 72.052 81.699 92.503 104.603 51.160 56.765 20 26.870 64.203 21 28.676 72.265 55.457 60.893 66.765 73.106 113.283 30.537 71.403 81.214 91.148 102.174 22 49.006 62.873 79.543 88.497 98.347 164.494 442.593 1163.909 23 32.453 53.436 69.532 24 34.426 58.177 76.790 118.155 133.334 241.333 36.459 47.575 75.401 112.797 63.249 94.461 25 84.701 114.413 136.308 199.021 581.826 1668.771 30 66.439 79.058 95.026 152.667 120.800 209.348 154.762 290.336 199.635 406.529 259.057 573.770 337.882 815.084 40 767.091 Help me solve this View a 50 2400.018 ar all Check answer Print Done
Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA earning 9 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Click the table icon to view the future value annuity table With annual investments and compounding, after 20 years, Shaylea would have $. (Round to the nearest cent.) Help me solve this View an example Get more help - Clear all Check answer
Transcribed Image Text:Shaylea, age 22, just started working full-time and plans to deposit $4,500 annually into an IRA earning 9 percent interest compounded annually. How much would she have in 20 years, 30 years, and 40 years? If she changed her investment period and instead invested $375.00 monthly, and the investment also changed to monthly compounding, how much would she have after the same three time periods? Comment on the differences over time. Click the table icon to view the future value annuity table With annual investments and compounding, after 20 years, Shaylea would have $. (Round to the nearest cent.) Help me solve this View an example Get more help - Clear all Check answer
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost of Credit
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Excel Applications for Accounting Principles
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
Finance
ISBN:
9781337514835
Author:
MOYER
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Pfin (with Mindtap, 1 Term Printed Access Card) (…
Finance
ISBN:
9780357033609
Author:
Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:
Cengage Learning
SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
Accounting
ISBN:
9780357391723
Author:
Maloney
Publisher:
Cengage
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage
SWFT Individual Income Taxes
SWFT Individual Income Taxes
Accounting
ISBN:
9780357391365
Author:
YOUNG
Publisher:
Cengage
SEE MORE TEXTBOOKS