(a) Construct a data table that will show Lindsay the balance of her retirement account for she have (in dollars) in her retirement account at the end of 30 years. (Round your an $ X (b) Develop the two-way table for annual investment amounts of $5,000 to $20,000 in inc minimum annual investments Lindsay must contribute (in dollars) for annual rates ran nearest thousand dollars.) Quantity Ordered Annual Return Minimum Annual Investment 7% 8% 9% 10% 11% $ $ $ $ X X X X X
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- Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is financially sound in 30 years, so she plans to invest the same amount into retirement account at the end of every year for the next 30 years. Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. (a) Construct a data table that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests $12,000 at a return of 11% how much will she have (in dollars) in her retirement account at the end of 30 years. (Round your answer to the nearest dollar.) $ 790582 (b) Develop the two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. Using the table, what are the minimum annual investments Lindsay must contribute (in dollars) for annual rates ranging from 7% to 11% to…Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is financially sound in 30 years, so she plans to invest the same amount into a retirement account at the end of every year for the next 30 years. Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. (a) Construct a data table that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests $12,000 at a return of 11% how much will she have (in dollars) in her retirement account at the end of 30 years. (Round your answer to the nearest dollar.) $ (b) Develop the two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. Using the table, what are the minimum annual investments Lindsay must contribute (in dollars) for annual rates ranging from 7% to 11% to…Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is financially sound in 30 years, so she plans to invest the same amount into a retirement account at the end of every year for the next 30 years. Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. (a) Construct a data table that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests $12,000 at a return of 7% how much will she have (in dollars) in her retirement account at the end of 30 years. (Round your answer to the nearest dollar.) $ (b) Develop the two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. Using the table, what are the minimum annual investments Lindsay must contribute (in dollars) for annual rates ranging from 7% to 11% to accrue…
- Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is financially sound in 30 years, so she plans to invest the same amount into a retirement account at the end of every year for the next 30 years. Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. (a) Construct a data table that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests $14,000 at a return of 9% how much will she have (in dollars) in her retirement account at the end of 30 years. (Round your answer to the nearest dollar.) $ 790582 X (b) Develop the two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. Using the table, what are the minimum annual investments Lindsay must contribute (in dollars) for annual rates ranging from 7% to 11%…Lindsay is 25 years old and has a new job in web development. She wants to make sure that she is financially sound in 30 years, so she plans to invest the same amount into a retirement account at the end of every year for the next 30 years. Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. (a) Construct a data table that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests $14,000 at a return of 11% how much will she have (in dollars) in her retirement account at the end of 30 years. (Round your answer to the nearest dollar.) $ (b) Develop the two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. Using the table, what are the minimum annual investments Lindsay must contribute (in dollars) for annual rates ranging from 7% to 11% to…Lindsay is 25 years old and has a new job in web development. Lindsay wants to make sure that they are financially sound in 30 years. So, Lindsay plans to invest the same amount into a retirement account at the end of every year for the next 30 years. Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which Lindsay contributes. (a) Construct a spreadsheet model that will calculate Lindsay's retirement savings given a fixed annual amount saved and a fixed annual interest rate of return. If Lindsay invests $13,000 at an annual return of 7%, how much will be in the retirement account (in dollars) at the end of 30 years? (Round your answer to the nearest dollar.) $ (b) Develop a two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0% to 12% in increments of 1%. Using the table, what are the minimum annual investments Lindsay must contribute (in dollars) for…
- Samantha Montgomery (age 42) is employed by Canon Company and is paid an annual salary of $62,430. She has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Montgomery: Round your answer to the nearest cent. a. What is the maximum that she can contribute into this retirement fund? $fill in the blank 1 b. What would be the company's contribution? $fill in the blank 2 Note: For items c. & d. below, round interim amounts to two decimal places. Use these values in subsequent computations then round final answer to two decimal places. c. What would be her weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)? Click here to access the Wage-Bracket Method Tables. $fill in the blank 3 d. What would be her weekly take-home pay without the retirement contribution deduction? $fill in the blank 4Irene plans to retire on December 31st, 2019. She has been preparing to retire by making annual deposits, starting on December 31st, 1979, of $2450 into an account that pays an effective rate of interest of 9.1%. She has continued this practice every year through December 31st, 2000. Her goal is to have $1.5 million saved up at the time of her retirement. How large should her annual deposits be (from December 31st, 2001 until December 31st, 2019) so that she can reach her goal? Payment = $68573.5Lindsay is 29 years old and has a new job in web development. She wants to make sure that she is financially sound by the age of 55, so she plans to invest the same amount into a retirement account at the end of every year for the next 26 years. (a) Construct a data table in Excel that will show Lindsay the balance of her retirement account for various levels of annual investment and return. If Lindsay invests $10,000 at return of 6%, what would be the balance at the end of the 26th year? Note that because Lindsay invests at the end of the year, there is no interest earned on the contribution for the year in which she contributes. Round your answer to a whole dollar amount. $ 10,000
- You are 35 years old and work with an institution where the retirement age is 65 years. For your retirement planning, you wish that from age 66 through 85, you should receive an annual sum of $50,000 at the end of each year. For this purpose, you will invest the required amount of money at retirement age. How much should you save at the end of each year from year 36 through 65 such that you have the amount of money, which if invested at your retirement age, will result in you receiving a sum of $50,000 each year from age 66 through 85? Assume an average interest rate of 6% throughout. Hint: Work the problem backwards. First solve the part from age 66 through 85. Then solve the part from age 36 to 65.The answer above is NOT correct. Irene plans to retire on December 31st, 2019. She has been preparing to retire by making annual deposits, starting on December 31st, 1979, of $2100 into an account that pays an effective rate of interest of 9.8%. She has continued this practice every year through December 31st, 2000. Her goal is to have $1.5 million saved up at the time of her retirement. How large should her annual deposits be (from December 31st, 2001 until December 31st, 2019) so that she can reach her goal? Answer = $ 27291 %3DToday is Janet's 23rdbirthday. Starting today, Janet plans to begin saving for her retirement. Her plan is to contribute $3,000 to a brokerage account each year on her birthday. Her first contribution will take place today. Her 42ndand final contribution will take place on her 64th birthday. Her aunt has decided to help Janet with her savings, which is why she gave Janet $10,000 today as a birthday present to help get her account started. Assume that the account has an expected annual return of 14 percent. How much will Janet expect to have in her account on her 65th birthday? Round your answer to a whole dollar; for example 2345.