Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. you want to have 120 000 in an account after 40 ye

You want to have 120 000 in an account after 40 years for your retirement...

70.2K

Verified Solution

Question

Basic Math

image

You want to have 120 000 in an account after 40 years for your retirement Your investment counselor suggests that you make regular monthly deposits into an annuity that pays 4 25 interest compounded monthly Find the amount that must be deposited monthly rounded to the nearest cent Periodic Deposit P 1 40 95 2 68 39 3 288 90 4 171 nxt 4 95 34

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1 Prove Hall s Marriage Theorem and provide an original example where Hall s condition...

Calculus
Q

?You are considering expanding your product line that currently consists of skateboards to include? gas-powered skateboards,...

Finance
Q

Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that...

Accounting
Q

TYPED RESPONSE ONLY Choose a metal to describe in depth; do not choose a nonmetal already selected...

Chemistry
Q

What is profitability Index? Given the discount rates and the future cash flows of each project,...

Mechanical Engineering
Q

You are sprinting as fast as you can up a steep hill breathing hard as...

Biology
Q

Consider the triangle 9 m A 15 m 12 m B

Geometry
Q

10 points Use the intermediate value theorem and the bisection method to approximate the real...

Calculus
Q

Please show all work for full credit Round to two decimal places when necessary 1...

Algebra
Q

Is a state (or area of a state) with the best tax incentives the best...

Accounting
Q

Okay, so my question is.. for the APR, how do you get the interest rate...

Finance
Q

Compute the size of the final payment for the following loan. Principal $18,000 Periodic Payment...

Finance