In the previous problem, suppose you make $4,800 annual deposits into the same retirement account. How large will your account balance be in 30 years?
Answer to relevant QuestionsIf the appropriate discount rate for the following cash flows is 9 percent compounded quarterly, what is the present value of the cash flows?Year Cash Flow1....... $ 8302....... 9103........ 04 ...... 1,500What is the value today of $4,000 per year, at a discount rate of 10 percent, if the first payment is received 6 years from today and the last payment is received 20 years from today?An All-Pro defensive lineman is in contract negotiations. The team has offered the following salary structure:Time Salary0 $6,500,0001 5,100,0002 $5,600,0003 $6,100,0004 $7,500,0005 $8,200,0006 $9,000,000All ...A Japanese company has a bond outstanding that sells for 87 percent of its ¥100,000 par value. The bond has a coupon rate of 4.3 percent paid annually and matures in 18 years. What is the yield to maturity of this bond?Martin Software has 9.2 percent coupon bonds on the market with 18 years to maturity. The bonds make semiannual payments and currently sell for 106.8 percent of par. What is the current yield on the bonds? The YTM? The ...
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