Starting next month, I plan to invest $500 per month for 10 years to reach my goal of $100,000. What annual rate must I earn to achieve this goal?
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Starting next month, I plan to invest $500 per month for 10 years to reach my goal of $100,000. What annual rate must I earn to achieve this goal?
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- I want to have 6000000 when I retire on April 18, 2055. I plan on making annual equal payments starting on April 18, 2020, and ending on April 31st, 2049. How much do I need to contribute each year? The savings will earn an 8 percent annual return.I want to be able to withdraw $40,000 from my account each year for 30 years after I retire. I expect to retire in 15 years. If my account earns 4% interest, how much will I need to deposit each year until retirement to achieve my goals?Today is your birthday and you decide to start saving for your retirement. You will retire on your 60th birthday and need $40,000 per year at the end of each of the following 15 years. You will make the first deposit one year from today in an account paying 9% interest annually and continue to make an equal amount of deposit each year up to the year before you plan to retire. If an annual deposit of $967.28 will allow you to reach your goal, what birthday are you celebrating today'!
- I've decided to start saving in a 6% per year investment account starting on January 1, 2022. I would like to raise 80,000 in 20 years. How much should I invest every month to reach my goal? Complete amortization table.I've decided to start saving in a 6% per year investment account starting on January 1, 2022. I would like to raise 80,000 in 20 years. How much should I invest every month to reach my goal?You are going to receive a payment at the end of each year for the next 12 years. If you invest each of those amounts at 12%, then what amount of money will you need to receive each year in order to have $1,930.65 at the end of the 12" year? th
- Ken Francis is offered the possibility of investing $2,745 today; in return, he would receive $10,000 after 15 years. What is the annual rate of interest for this investment?Your goal is to retire 30 years from now and have investments worth $2.5 million at that time. Today, you have $211 in your investment account and plan on adding an additional $ 10,000 to that account each year. What annual rate of return must you earn on average to achieve your goal?Suppose you wish to retire 30 years from today .You have determined that you would need $75,000 annually once you retire, which you will withdraw at the end of each year. You estimate that you will earn 6% on your retirement funds, compounded annually, and that you will live for 20 years after retirement. how much funds would you need on retirement to fullfill your goals above.?
- You would like to provide $145,000 a year forever for your heirs. How much money must you deposit today to fund this goal if you can earn a guaranteed 5.8 percent rate of return?Jenny Lopez estimates that as a result of completing her master’s degree, she will earn an additional $6,000 a year for the next 40 years. What would be the future value of these additional earnings based on an annual interest rate of 6 percent?Jami Minard wants to receive an annuity of $8,000 at the beginning of each year for the next 10 years. How much (in $) should be deposited now at 7% compounded annually to accomplish this goal?