What would your investment account be worth in 20 years if you currently have $5000 saved and

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

Question:

What would your investment account be worth in 20 years if you currently have $5000 saved and plan to add $140per month at the end of the month for the first 20 years if the account pays 9.5% interest and compounded monthly?

Related Book For answer-question

Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

See More Books

Posted Date: Jan 05, 2024 02:00 AM

See More Questions

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
Calculate all of the problems in the document below in an Excel spreadsheet or on a financial calculator. Please show your work in order to get credit. For each problem, state the inputs given, what...
Learning by doing is an integral part of the course experience albeit online. The intent of this assignment is for you to demonstrate your ability to apply course content. Thus in the Marketing...
Point out the problems with the CSR's interaction with the customer. After reviewing and practicing with the ethical approaches in the Learning Activities, which ethical approach did the CSR take?...
In Olympic running events, preliminary heats are determined by random draw, so we should expect the ability level of runners in the various heats to be about the same, on average. The table gives the...
What are the three types of employees who work in MNEs? Explain how an HCN could change to become a TCN in an MNE.
Consider the problem of constructing (not solving) crossword puzzles:5 fitting words into a rectangular grid. The grid, which is given as part of the problem, specifics which square are blank and...
Engberg Company installs lawn sod in home yards. The company's most recent monthly contribution format income statement follows: Percent of Sales Variable expenses Contribution margin Fixed expenses...
Jennifer Carter graduated from State University in June 2005, and, after considering several job offers, decided to do what she always planned to do go into business with her father, Jack Carter....
Your client has approached you, a CPA, on March 1, 2023. He would you to estimate the federal income tax for the taxation year ended December 31, 2022 for the corporation that he owns. It is a...
Highlight the primary motivation behind non-stranger and stranger child abductions. Where and how are these abductions likely to happen?
Explain why some men misconstrue womens verbal and nonverbal communications.
Define and provide example of rape myths.
Review research findings on juvenile murderers.
_______ is a tool to encourage employees of an organization and increase productivity. Transactional analysis Johari window Life position None of the above
10. Imagine that your friend is opening a pizza business with home delivery, and you are advising him/her in terms of delivery logistics. Explain, what could be "order winning factors" and...
With your classmates, form small teams of skunkworks. Your task is to identify an innovation that you think would benefit your school, college, or university, and to outline an action plan for...
1. Most young adults form their opinions about credit and debt from what they see in their parents experiences. How has your perception of carrying credit card debt, student loans, and other...
1. Distinguish among credit cards, debit cards, and a store-value card. 2. List the steps you should take if you find an error in your periodic statement regarding an electronic transaction. 3....
1. Kevin Jones is single and recently graduated from law school. He earns $9000 per month, an awesome salary for someone only 26 years old. He also has $1400 withheld for federal income tax, $540 for...
If youd like to have $5,000,000 at retirement in 45 years and you expect to earn 10 percent annually, which is around the average return over the past 50 years, what lump sum would you have to invest...
Obaidullah Hamzah, who recently sold his Ford Mustang, placed $15,000 in a savings account paying annual compound interest of 7 percent. a. Calculate the amount of money that will be accrued if he...
How many years will the following take? a. $$550$ to grow to $$1,049.50$ if invested at 6 percent compounded annually b. $$37$ to grow to $$63.87$ if invested at 9 percent compounded annually...

What would your investment account be worth in 20 years if you currently have $5000 saved and

Question:

Expert Answer:

Lets split this into two parts We have 1 The future value of the original 5000 amount and 2 The futu... View the full answer

Personal Finance

Students also viewed these finance questions