If you deposit $2,000 at the end of each year into an IRA account that is expected

Fantastic news! We've Found the answer you've been seeking!

Question:

If you deposit $2,000 at the end of each year into an IRA account that is expected to earn 12% per year simple interest, how much will be in the account in 30 years?

Related Book For answer-question

Principles Of Managerial Finance

ISBN: 978-0136119463

13th Edition

Authors: Lawrence J. Gitman, Chad J. Zutter

See More Books

Posted Date: Jun 14, 2022 07:28 AM

See More Questions

If you deposit $4,000 at the end of each of the next 20 years into an account paying 11.2 percent interest, how much money will you have in the account in 20 years? How much will you have if you make...
If you deposit $5,000 at the end of each year for the next 20 years into an account paying 10.1 percent interest, how much money will you have in the account in 20 years? How much will you have if...
An investment will pay $100 at the end of each of the next 3 years, $200 at the end of Year 4, $300 at the end of Year 5, and $500 at the end of Year 6. If other investments of equal risk earn 8%...
United Research Associates (URA) had received a contract to produce two units of a new cruise missile guidance control. The first unit took 4,000 hours to complete and cost $ 30,000 in materials and...
Sydney Company had retained earnings of $56,000 and total stockholders equity of $75,000 at the beginning of 20X1. During 20X1 the company had net income of $21,000, declared and paid cash dividends...
Choose one of the recent laws that have been enacted that are included in the chapter and discuss why it is or isnt an effective stop-gap to health care fraud and abuse.
In a vapour compression refrigeration system, the condition of refrigerant before entering the compressor is (a) saturated liquid (b) wet vapour (c) dry saturated liquid (d) superheated vapour
The $41 billion dollar firm Uber Technology, Inc., is unsettling the traditional taxi business. In over 40 countries and 240 markets around the world, Uber and similar companies are challenging the...
Summarize and include APA in-text citations: Christianity, like many religions, places a high value on compassion and self-sacrifice. These values can indeed influence a Christian woman's decisions...
Use the data set 401KSUBS.RAW for this exercise. (i) Using OLS, estimate a linear probability model for e401k, using as explanatory variables inc, inc2, age, age2, and male. Obtain both the usual OLS...
ABC Bank charges 12 percent compounded monthly on its business loans. XYZ Bank charges 14 percent compounded semiannually. As a potential borrower, which bank would you go to for a new loan? 2 ABC...
Brazilian real appreciates. Wharton Econometrics Forecasting Associates expects the Brazilian real (BRL) to depreciate by 30 percent against the U.S. dollar over the next 90 days from its current...
In 2011, China experienced an inflation rate of 11 percent against 1 percent in the United States, whereas the renmimbi appreciated from RMB 6. 7 to RMB 6. 3 = $1 during the same period. Walmart, the...
The national Algerian flag air carrier operates a web of 63 routes mostly to Europe and the Middle East. Its fleet is financed in euros to the tune of 2.5 billion, and ticket sales are overwhelmingly...
A single currency for the Gulf states. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates have long been rumored to be seriously onsidering the adoption of a common currency....
What are the components of net cash outlay in the capital budgeting decision? At what time is such an outlay incurred in the case of conventional cash flows?
Which of the following expressions represents the MOST simplified expression of the expression Y=ABC[AB+ C(BC + AC)]? A. Y = AC + BC B. YABC + BC C. Y = BC D. Y = ABC B
What are the key elements of a system investigation report?
Misty needs to have $15,000 at the end of 5 years to fulfill her goal of purchasing a small sailboat. She is willing to invest a lump sum today and leave the money untouched for 5 years until it...
How are present value and future value calculations related?
Moses Manufacturing is attempting to select the best of three mutually exclusive projects, X, Y, and Z. Although all the projects have 5-year lives, they possess differing degrees of risk. Project X...
Victoria has prepared the following list of statements about corporations. 1. A corporation is an entity separate and distinct from its owners. 2. As a legal entity, a corporation has most of the...
Indicate whether the following items would appear on the income statement (IS), statement of financial position (SFP), or retained earnings statement (RES). a. Dividends. b. Cash. c. Salaries and...
On May 10, Chen Co. issues 2,000 6 par value ordinary shares for cash at 13 per share. Journalize the issuance of the shares.

If you deposit $2,000 at the end of each year into an IRA account that is expected

Question:

Expert Answer:

Assuming you deposit ... View the full answer

Principles Of Managerial Finance

Students also viewed these corporate finance questions