Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. find the final amount in the following retirement

Find the final amount in the following retirement account, in which the rate of return...

90.2K

Verified Solution

Question

Finance

image

image

Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change over time $475 per month invested at 5%, compounded monthly, for 5 years, then $648 per month invested at 7%, compounded monthly for 5 years What is the amount in the account after 10 years? S (Do not found until the final answer Then round to the nearest dollar as needed) Find the final amount in the following retirement account, in which the rate of return on the account and the regular contribution change o $475 per month invested at 5%, compounded monthly, for 5 years, then $648 per month invested at 7%, compounded monthly, for 5 year What is the amount in the account after 10 years? $ (Do not round until the final answer. Then round to the nearest dollar as needed.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What would the unadjusted trial balance look like for thefollowing transactions?1-JanCash4,000  ...What would the unadjusted...

Accounting
Q

40 numbers are rounded off to the nearest integer and then summed. If the individual round-off...

Basic Math
Q

Question text The price of British Pounds \"in US dollars\" was 1.5355 last month and is...

Finance
Q

5.-Competitiveness of the Home Market. A strongly competitive home market can sharpen a firm’s competitive advantage...

Finance
Q

True or False President Carter was supported by social conservatives in the 1980 election A...

Biology
Q

Use the polygon to the right to complete parts a Name the polygon If the...

Calculus
Q

Complete Alvins Music Inc.s (AMI) 2019 Form 1120, Schedule D, and Schedule G (if applicable)...

Accounting
Q

e. Maintenance costs incurred on account in the factory, $55,000 f. Advertising costs incurred on...

Accounting
Q

1. On August 1, 2020, Philip company had an account payable balance of 12,000. During...

Accounting
Q

TABLE 2 a MACRS Mid-Quarter Convention: For property placed in service dhoring the first quarter...

Accounting
Q

Given the following information for Janaro Products, compute the company's ROI: Sales $800,000; Controllable...

Accounting
Q

12.11 The B Corporation had the following balance sheets for 2018 and 2019: 31/12/2019 $77,000...

Finance