To save for retirement at age 27 you start depositing $275 at the end of each month in an IRA that pays 5.75% compounded monthly. How much will you have in the IRA if you plan to retire at 65? I need also to find the interest.

Q: How much must be deposited today into the following account in order to have a $150,000 college fund…

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Q: You borrow $48,000 at 8.7% compounded monthly.  If you make monthly payments for 10 years, how much…

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Q: You are the finance manager for Olympia Industries. The company plans to purchase $1,000,000 in new…

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Q: You want to buy a new car. You can afford payments of $475 per month and can borrow the money at an…

A: Given information Payment=$475 per month Interest rate r=6.7% Since, interest id compounded monthly…

Q: - Brad has a government bond that will be worth $10,588.13 in seven years. The bond has an interest…

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Q: Eugene began to save for his retirement at age 32, and for 10 years he put $ 275 per month into an…

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Q: 1936 a modest cottage on the south shore of Lake Mitchell (near Cadillac) was purchased for $2500.…

A: P=2500 t=2018-1936= 82 r=5.78%

Q: You have decided that you would like to save $10,000 to build a house in the next 10 years. If you…

A: NOTE: Refresh your page if you can't see any equations. . here we have the future value is A=10000…

Q: You decide to quit using your credit card and want to pay off the balance of $2,200 in 2 years. Your…

A: This is compound interest problem

Q: ou borrow $8,015 from your friend at an interest rate of 16% per year compounded quarterly. You…

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Q: Charley’s credit card APR is 28.95% compounded daily. What is her actual interest rate per year?

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Q: Jane Adele deposits $400 in an account at the beginning of each 3-month period for 10 years. If the…

A: Given that, Jane deposits $400 in an account at the beginning of each 3-month period for 10 years.…

Q: A sailboat costs $19,058. You pay 10% down and amortize the rest with equal monthly payments over an…

A: The formula to calculate the monthly payment is written as follows:

Q: You would like to have $950,000 when you retire in 40 years. How much should you invest each quarter…

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Q: A father opened a savings account for his daughter on the day she was born, depositing $1,000. Each…

A: Given that A father opened a savings account for his daughter on the day she was born, depositing…

Q: Against expert advice, you begin your retirement savings at age 40. You plan on retiring at age 65.…

A: Recall that the annunity formula is given byPn = d(1+r1212n -1r12Where d is the monthly deposit…

Q: Cara needs​ $9,000 in11 years. What amount can she deposit at the end of each quarter at 6​%…

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Q: A new employee charged $6700 on his credit card to relocate for his first job. After noticing that…

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Q: You start a retirement fund. You can afford to make monthly deposits of $200 into an account earning…

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Q: 4. Shawn is currently 20 years old and would like to put money away for his retirement. He wants to…

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Q: A lottery prize is $600 million. If interest rate is 3 % nominal annual compounded annually, answer…

A: Let P be the principal amount and r be the interest rate compounded annually  then the equal…

Q: A new employee charged $4130 on his credit card to relocate for his first job. After noticing that…

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Q: Five years ago, a trust fund amounting to P500,000.00 was invested at 15% compounded semi-annually.…

A: as per our company guideline we are supposed to answer only one qs kindly post remaining qs in next…

Q: Kristy Joe deposits $150 each month in an ordinary annuity to save for a new car. If the annuity…

A: We will find out the required savings for given ordinary annuity.

Q: An investment of $4,500 was deposited into an account that pays 3.7% compounded daily. ... How much…

A: Answering An investment of $4,500 was deposited into an account that pays 3.7% compounded daily. ...…

Q: A man plans to buy a $150 000 house. He wants to make a down payment of $30 000 and to take out a…

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Q: You want to buy a $19,000 car. The company is offering a 3% interest rate compounded monthly for 60…

A: Given that you want to buy a $19,000 car. The company is offering a 3% interest rate compounded…

Q: Linda has joined a "Christmas Fund Club" at her bank. At the end of every month, December through…

A: Solution :-

Q: achel starts an IRA individual retirement account at age 26 to save for retirement she deposits $450…

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Q: Your mom decided to join their office cooperative and agreed to contribute P1000 per month beginning…

A: To write the correct option.

Q: Finance. A person wishes to have $23,900 cash for a new car 3 years from now. How much should be…

A: 1 year consists of 52 weeks. So, the interest will be compounded 52 times annually. The formula for…

Q: You have $500,000 saved for retirement. Your account earns 10% interest compounded monthly. How much…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: A woman deposits $11,000 at the end of each year for 10 years in an account paying 5% interest…

A: Given, a woman deposits $11,000 at the end of each year for 10 years in an account paying 5%…

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: Given, A = Accrued amount = $5000 r = Interest rate = 0.02 n = number of months = 5 t = time…

Q: As a senior high school student, Jose decided to start making investments. He is going to deposit…

A: Given: As a senior high school student, Jose decided to start making investments. he is going to…

Q: How much will you need to save per month to have $200,000 after 12 years, if your account earns 5%…

A: This question can be solved using the concept of annuity.

Q: want to be able to withdraw $40,000 each year for 20 years. My account earns 4% interest compounded…

A: To determine the amount that needed to invest in the beginning in order to withdraw $40,000 each…

Q: You have $500,000 saved for retirement. Your account earns 8% interest compounded monyhly. How much…

A: Given: The amount at beginning P0=$500,000 Rate of interest R= 8% Number of compounding period in…

Q: Typos borrowed $16500 to pay for the wedding of his daughter. Typos repair the loan after 3 years…

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Q: You deposit $2000 in an account that pays 8% interest compounded semiannually. after 5 years , the…

A: Given query is the find the value of 2000 investment after 10 years.

Q: 7. You have $750,000 at retirement and you want to draw interest only to live on. How much can you…

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Q: An insurance settlement of $2.5 million must replace Trixie Eden's income for the next 25 years.…

A: Given: An insurance settlement of $2.5 million must replace Trixie Eden's income for the next 25…

Q: Acme Annuities recently offered an annuity that pays 5.4% compounded monthly. What equal monthly…

A: Given information Interest rate per year r=5.4% compounded monthly. ⇒r=5.4100=0.054 Since, interest…

Q: You deposited P75,500 into a savings account that pays 4% compounded annually in interest. Your…

A: You deposit P75,500 into a saving account that pays 4% compounded annually in interest. Your friend…

Q: Suppose that you earned a bachelor's degree and now you're teaching high school.The school district…

A: Principal =$ 5000 interest=4.5% time =5 years n=1 (annually) formula used: Total A=P+Iwhere…

Q: An investment company pays 7% compounded semiannually. You want to have $8,000 in the future.

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Q: You are considering taking out a loan of $12,000.00 that will be paid back over 8 years with monthly…

A: Given that    Loan value = $ 12000   PMT = periodic payment = $163.60   r = rate of interest= 7% =…

Q: Suppose you want to have $700,000 for retirement in 35 years. Your account earns 5% interest…

A: Annuity formula               A=PMT((1+rn)nt-1)(rn) where PMT= regular monthly deposit amount…

Q: Parents wish to have $80,000 available for a​ child's education. If the child is now 9 years​ old,…

A: