Future Value of Multiple Annuities Assume that you contribute $120 per month to a retirement plan...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Future Value of Multiple Annuities Assume that you contribute $120 per month to a retirement plan for 20 years. Then you are able to increase the contrib years. Given a 7.0 percent interest rate, what is the value of your retirement plan after 40 years? Multiple Choice $130,356 $314.978 $367,071 $129,600 Future Value of Multiple Annuities Assume that you contribute $120 per month to a retirement plan for 20 years. Then you are able to increase the contrib years. Given a 7.0 percent interest rate, what is the value of your retirement plan after 40 years? Multiple Choice $130,356 $314.978 $367,071 $129,600
Expert Answer:
Answer rating: 100% (QA)
The detailed answer for the above question is provided below Solution To calculate the future value of multiple annuities we can use the formula for t... View the full answer
Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
Posted Date:
Students also viewed these banking questions
-
The redshift of matter-dark energy equality is 0.4. Suppose we see a large-scale overdensity in the CMB last-scattering surface, with fractional density fluctuation amplitude of 2 *10^-5. What size...
-
The manager of Avalon at the Prudential Center, a large apartment complex in Boston, collects the rent from each tenant on the first day of every month. Past records indicate that the mean number of...
-
Assume that you contribute $200 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $300 per month for another 30 years. Given a 7 percent interest rate,...
-
which you describe and reflect on one of your favorite pop culture artifacts. Your goals will be simple: you will describe in detail a popular film, tv show, ad campaign, performer, song,...
-
A 0.50-F and 1.4-F a capacitor are connected in series to a 9.0-V battery. Calculate (a) The potential difference across each capacitor (b) The charge on each. (c) Repeat parts (a) and (b) assuming...
-
Using molecular orbital theory, explain why shining light on Br2 causes it to break apart into atoms, but shining light on H2 does not break the molecule apart.
-
How many accounts are involved in recording the sale of merchandise on credit?
-
Break-Even Assume a firm is considering a new project that requires an initial investment and has equal sales and costs over its life. Will the project reach the accounting, cash, or financial...
-
To complete this activity: Perform research using the links provided and answer the following questions. Provide short answers to the questions in the interest of time. Ontario Student Assistance...
-
The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2021. For the taxes, assume the second February payroll amounts were duplicated for the March 5 and March...
-
It appears that Allen can earn at least its current level of income for the indefinite future Based on this information the investors think that an appropriate investment capitalization rate for...
-
You have joined the team at Phantom Realty as a sales representative and are also managing a small portfolio as a property manager. You are keen to add value to the agency and aware that you need to...
-
A long, straight wire lies on a horizontal table in the xy-plane and carries a current of 5.60 A in the positive x-direction along the x-axis. A proton is traveling in the negative x-direction at...
-
A community's social capital plays an important role in how effective local governments and community-based organizations work together toward common goals. In short, What are ways in which a local...
-
XYZ Inc. sells two products, A and B. The selling price, variable cost and contribution margin per unit of product are shown below: Product A Selling Price $ 24 B $ 28 Variable Cost $ 10 $ 24...
-
3 Consider the mass of the objects in the activity (small ball large ball, feather) and compare the gravitational force between them and the Earth. If distance is the same which object would you...
-
The following signal V of peak voltage 8V is applied to the non-inverting terminal of an ideal op-amp. The transistor has VBE = 0.7 V. B=100; VLED 1.5 V, Vcc=10V and -Vcc = 10V. 10V 10V 8kQ 2kQ +Vcc...
-
I frequently use NY Times and CNN and am aware of Fox News but I never use it. I visit these sites, NY Times and CNN, a few times a week whenever I have to research something or see something on...
-
WorldGone, Inc. declared bankruptcy on September 25, 2015 through a Chapter filing. WorldGone's balance sheet at the time of the bankruptcy filing is listed as follows. WorldGone, Inc Balance Sheet...
-
Suppose that a firms recent earnings per share and dividend per share are $2.75 and $1.60, respectively. Both are expected to grow at 9 percent. However, the firms current P/E ratio of 23 seems high...
-
Dabble, Inc., has sales of $980,000 and cost of goods sold of $640,000. The firm had a beginning inventory of $36,000 and an ending inventory of $46,000. What is the length of the days sales in...
-
Which of the following is a characteristic of a corporation? a. Mutual agency b. No income tax c. Limited liability of shareholders d. Both a and b
-
Team Spirit Inc. issues 240,000 common shares for \$ \(\$ 5\) per share. The journal entry is: a. Cash..... 240,000 Common Shares. 240,000 b. Cash...... 1,200,000 Common Shares. 240,000 Gain on the...
-
The board of directors of Laptops Plus authorizes the issue of \(\$ 9,000,000\) of \(7 \%\), 15 -year bonds payable. The semiannual interest dates are May 31 and November 30. The bonds are issued on...
Study smarter with the SolutionInn App