MAT$1005$DEfa$23-$D$02/11255/$ Video Playlist: Chapter $9$ Fina

Practice Exercises $-$ Finance

Score: $7/206/11$ answered

Question $8$

You want to be able to withdraw $$25,000$ each year for $30$ years. Your account earns $8\%$ interest.

a$)$ How much do you need in your account at the beginning?

$

b$)$ How much total money will you pull out of the account?

c$)$ How much of that money is interest?

Question Help: $$ Video $1$ Video $2$

Video Playlist: Chapter $9$ Finance

There are $18$ videos in this chapter. The table below the play example$/$section in the book each video is aligned with.

A traditional individual retirement account $($IRA$)$ is a spec retirement account in which the money you invest is exe income taxes until you withdraw it$.$ If you deposit $$100e$ into an IRA earning $6\%$ interest, how much will you have i account after $20$ years?