12 13 Derek can deposit $18,753.00 on each birthday beginning with his 27.00th and ending with...

 

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12 13 Derek can deposit $18,753.00 on each birthday beginning with his 27.00th and ending with his 66.00th. What will the rate on the retirement account need to be for him to have $3,411,988.00 in it when he retires? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) if Derek plans to deposit $12,896.00 into his retirement account on each birthday beginning with his 26th and the account earns 12.00%, how long will it take him to accumulate $3.533,439.007 Submit Answer format: Number: Round to: 2 decimal places Derek decides that he needs $127,528.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $127528.0 on each birthday from his 66th to his 86.00th. How much will be need in his retirement account on his 65th birthday? Assume a interest rate of 8,00% Submit Answer format: Currency: Round to: 2 decimal places O Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 75.00 During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 75.0 when he fully retires, he will wants to have $3,380,499 00 in his retirement account. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assume a 10.00% interest rate Submit Answer format: Currency Round to 2 decimal places) 12 13 Derek can deposit $18,753.00 on each birthday beginning with his 27.00th and ending with his 66.00th. What will the rate on the retirement account need to be for him to have $3,411,988.00 in it when he retires? Submit Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924)) if Derek plans to deposit $12,896.00 into his retirement account on each birthday beginning with his 26th and the account earns 12.00%, how long will it take him to accumulate $3.533,439.007 Submit Answer format: Number: Round to: 2 decimal places Derek decides that he needs $127,528.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $127528.0 on each birthday from his 66th to his 86.00th. How much will be need in his retirement account on his 65th birthday? Assume a interest rate of 8,00% Submit Answer format: Currency: Round to: 2 decimal places O Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 75.00 During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 75.0 when he fully retires, he will wants to have $3,380,499 00 in his retirement account. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assume a 10.00% interest rate Submit Answer format: Currency Round to 2 decimal places)

Answer rating: 100% (QA)

2 Assuming that Dereks birthday occurs annually he will make deposits for 66 27 1 40 years Let x be the annual interest rate Using the formula for the ... View the full answer