Use the formula for the value of an annuity to solve Exercises 7784. Round answers to the
Question:
Use the formula for the value of an annuity to solve Exercises 77–84. Round answers to the nearest dollar.
At age 25, to save for retirement, you decide to deposit $50 at the end of each month in an IRA that pays 5.5% compounded monthly.
a. How much will you have from the IRA when you retire at age 65?
b. Find the interest.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
a b 87052 50 12 ...View the full answer
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
1+ Reviews
10+ Question Solved
Related Book For 
Question Posted:
