smarcalli2576 smarcalli2576

27-05-2023
Business

Answered

Jerry wants to have $1.9 million in his retirement account. If he feels he can earn an APR of 8.1 percent compounded monthly and plans to save $230 per month until he reaches his goal, how many years will it be until he reaches his goal and retires? Multiple Choice 52.13 years 44.36 years 49.51 years

Answer :

Other Questions

When George was 50 years old, he inherited a lump-sum of $80,000 from his father. He invested the money in an equity fund outside of his RRSP because he did not

How many years will the following take? $340 to grow to $35,941 if invested at 13.91 percent, compounded annually. Round the answer to two decimal places.

A builder is offering $105,970 loans for his properties at 9 percent for 25 years. Monthly payments are based on current market rates of 9.5 percent and are to

Your uncle has $375,000 invested at 7.5% and now he wants to retire. He wants to withdraw $35,000 at the end of each year, beginning at the end of this year. Ho

The Caldwells have determined that they need an after-tax income of $60,000 annually, not indexed for inflation and received in equal installments at the beginn

Cooling Tools, Inc. is currently producing 782 of small refrigerators per month but the company’s CEO plans to increase production at a rate of 6.64 percent per

Listen Renaldo turned 65 years old during the year, and this year he received OAS benefits of $4,800; a CPP pension of $1,286; a CPP disability benefit of $1,12

The maintenance cost of a certain equipment is P40,000 per year for the first 5 years, P60,000 per year for the next 5 years, cost of overhaul at the end of the