You are planning to make monthly deposits of $400 into a retirement account that pays 10 percent
Question:
You are planning to make monthly deposits of $400 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 30 years?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
Input area Monthly deposit 400 ...View the full answer
Answered By
SUMAN DINDA
I LIKE TO TEACH STUDENTS. SO, I START MYSELF AS A PRIVATE TUTOR. I TEACH STUDENTS OF DIFFERENT CLASSES. I HAVE ALSO DONE BACHELOR OF EDUCATION DEGREE(B.ED). DURING THIS COURSE I HAD TO TEACH IN A SCHOOL. SO I HAVE A GOOD EXPERIENCE IN TEACHING.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamentals of corporate finance
ISBN: 978-0078034633
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Question Posted:
Students also viewed these Corporate Finance questions
-
You are planning to make monthly deposits of $450 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will...
-
You are planning to make monthly deposits of $475 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will...
-
You are planning to make monthly deposits of $300 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will...
-
You are the manager of a firm that produces products X and Y at zero cost. You know that different types of consumers value your two products differently, but you are unable to identify these...
-
Derive the following formula for the distance e from the centerline of the wall to the shear center S for the hat section of constant thickness shown in the figure: Also, check the formula for the...
-
The data shown in Table 10E.10 are temperature measurements made every 2 minutes on an intermediate chemical product (read down, then across from left to right). (a) Calculate the sample...
-
The flow of water in a 3-mm-diameter pipe is to remain laminar. Plot a graph of the maximum flowrate allowed as a function of temperature for \(0
-
Timken Company specializes in the repair of music equipment and is owned and operated by Secilia Timken. On April 30, 2012, the end of the current year, the accountant for Timken Company prepared the...
-
Gnosis is an international freight software company, based in Charleston, South Carolina, USA. Their specialty is shipping "visibility," which enables firms to determine where their shipping...
-
Rose-comb chickens mated with walnut-comb chickens produced 15 walnut-, 14 rose-, 5 pea-, and 6 single-comb chicks. Determine the genotypes of the parents.
-
Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,500 monthly. The contract currently sells for $115,000. What is the monthly return on this investment vehicle? What is...
-
In the previous problem, suppose you make $4,800 annual deposits into the same retirement account. How large will your account balance be in 30 years?
-
During the 2003 season, Major League Baseball took steps to speed up the play of baseball games in order to maintain fan interest (CNN Headline News, September 30, 2003). The following results come...
-
Assume all risks involved in this question are idiosyncratic (firm-specific) so investors' discount rate is always the risk-free rate, 10%. A firm currently has two assets: $60 million cash and a...
-
6) The Crescent Street Jam (a local jazz quintet, with your Professor on Piano) has market power. Consumers in Potsdam demand tickets to each live performance according to P=18-0.2*Q (MR=18-0.4Q)....
-
MultiChoice Africa Holdings (MultiChoice) has been dominating the media and television entertainment market across Africa for over two decades by providing multi-channel and multi-platform digital...
-
Global relocation of operations has historically played to the advantage of business; that said, we see the flaws in this practice due to the hollowing phenomenon. Anderson describes the hollowing...
-
Suppose the initial conditions of the economy are characterized by the following equations. In this problem, we assume that prices are fixed at 1 (the price index is 100 and when we deflate, we use...
-
Consider the general chemical equation: A + 2 B C + 2 D (a) How many moles of C are produced from 1 mol of A? (b) How many liters of gas B must react to give 2 L of gas D at the same temperature and...
-
Which task is performed by a book-keeper? A. Analysing the trading results B. Entering transactions in the ledger C. Preparing year-end financial statements D. Providing information for...
-
The owner of a personal computer company is considering whether to install a large or a small new assembly line. The possible payoffs (in thousands of dollars) depend on the state of the economy and...
-
Prepare the 2015 and 2016 common-size balance sheets for Bethesda Mining. Bethesda Mining Company reports the following balance sheet information for 2015 and 2016. BETHESDA MINING COMPANY Balance...
-
Based on the balance sheets given for Bethesda Mining, calculate the following financial ratios for each year: a. Current ratio b. Quick ratio c. Cash ratio d. Debt-equity ratio and equity multiplier...
-
Suppose that the Bethesda Mining Company had sales of $2,945,376 and net income of $89,351 for the year ending December 31, 2016. Calculate the DuPont identity. Bethesda Mining Company reports the...
-
AA stock price is $45/share. The stock is expected to pay dividends $2.50 in the coming year. After reviewing all information, you concluded: the price one year from now will be $50/share and you...
-
Fung is planning for the correct after tax and after inflation real rate of return to use. If inflation will be 1.3%, the average rate of return on his investments will be 4.9%, and the tax rate on...
-
In a three - level marketing channel, how many entities ( organization / individual ) are connected?
Study smarter with the SolutionInn App