Ash is going to contribute $100 a month to her retirement account. The first saving will...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Ash is going to contribute $100 a month to her retirement account. The first saving will begin one month from today. Her employer matches her contribution by 50 percent. If these contributions remain constant, and she earns a monthly rate of 0.7 percent, how much will her savings be worth 40 years from now? (Keep at least 3 decimal places in intermediate steps. Choose an answer that is closest to yours.) O $494,281.98 O $416,540.71 O $588,303.56 O $352,151.04 Ash is going to contribute $100 a month to her retirement account. The first saving will begin one month from today. Her employer matches her contribution by 50 percent. If these contributions remain constant, and she earns a monthly rate of 0.7 percent, how much will her savings be worth 40 years from now? (Keep at least 3 decimal places in intermediate steps. Choose an answer that is closest to yours.) O $494,281.98 O $416,540.71 O $588,303.56 O $352,151.04
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below Heres how to calcul... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
Outline the following problems. 1- You of each of the next 5 years in a savings account paying 6% compounded annually, how much will you accumulate after 5 years? 2- James Smith has a 4-year ordinary...
-
1. The actual interest rate you pay to a lender, as opposed to what the lender is required to quote to you, is referred to as which one of the following? A. Compound rate B. Annual percentage rate C....
-
Write a program that reads in the x - and y - coordinates in Cartesian space for the endpoints of a line segment and then determines if the line segment is parallel to the y - axis. Hint: a line is...
-
What is meant by an ad valorem, a specific, and a compound tariff? Are import or export tariffs more common in industrial nations? In developing nations?
-
Five men, four children and two women are asked to stand in a queue at the post office. Find how many ways they can do this if: a. The women must be separated b. All of the children must be separated...
-
Consider the following cash flow profile and assume MARR is 10 percent/year. a. What does Descartes' rule of signs tell us about the IRR(s) of this project? b. What does Norstrom's criterion tell us...
-
Creation Company produces gadgets for the coveted small appliance market. The following data reflect activity for the year 2014: Costs incurred: Purchases of direct materials (net) on credit...... $...
-
quick question are they same " the function of database management system and the characteristics of database management system? explain maintaining data integrity and give simple explanation to...
-
As Mel Smith was doing his year-end accounting, he noticed that the bookkeeper had made errors in recording several transactions. The erroneous transactions are as follows: (a) A check for $700 was...
-
4. For the reaction 2A+B22AB, the following information was obtained: Trial 1 2345 Initial Rate (M/s) [A] (M) 1.5 [B2] (M) 2.0 0.183 4.0 3.0 1.098 3.0 4.5 1.863 1.5 4.0 0.732 4.5 2.0 0.549 a)...
-
selling price per widget R10 direct materials per widget R1.50 direct labour per widget R1.80 variable overheads per widget R0.70 Fixed cost R20 000 Expected sales for 2023, 10 000 widget calculate...
-
The sun is a source of energy due to thermonuclear fusion. It therefore loses mass at a rate of about 3 . 5 x 1 0 ^ 9 kg / s . Approximating this loss rate as constant, by how many seconds has the...
-
Your agent and your property manager are very confident that you can spend $150,000 ($10,000/unit) and increase the rent from $500 to $700/month for each unit. Here are the new numbers after this...
-
The SMF Company purchased 900 Company K bonds on December 1, 20X5, for $1,000 per bond. When it purchased these bonds, SMF did not intend to sell them in the shortterm in order to raise cash or to...
-
f during the circular motion lab your washers had a mass of 0 . 4 kg and the stopper had a mass of 0 . 0 2 kg and your radius was 0 . 8 meters then approximately what would be the theoretical linear...
-
2.) You want to design a synchronous counter sequential (sequential) logic circuit. It will count from 9 to 0 and will not count the number in the last digit of your student number. (a) List the...
-
A parking lot charges $3 for the first hour (or part of an hour) and $2 for each succeeding hour (or part), up to a daily maximum of $10. (a) Sketch a graph of the cost of parking at this lot as a...
-
Huskie Industries, a U.S.-based MNC, considers purchasing a small manufacturing company in France that sells products only within France. Huskie has no other existing business in France and no cash...
-
What are bills of lading and how do they facilitate international trade transactions?
-
You believe that interest rate parity and the international Fisher effect hold. Assume that the U.S. interest rate is presently much higher than the New Zealand interest rate. You have receivables of...
-
What is the role of the origin of transfer during conjugation involving F+ and Hfr strains? What is the significance of the direction of transfer in Hfr conjugation?
-
What is the role of sex pili during conjugation?
-
Think about the structure and transmission of F factors, and discuss how you think F factors may have originated.
Study smarter with the SolutionInn App