Earn annual interest rate

Assignment Help Financial Management

Reference no: EM131976692

1. You have just started a new job and plan to save $4,850 per year for 43 years until you retire. You will make your first deposit in one year. How much will you have when you retire if you earn an annual interest rate of 10.03 percent?

$2,630,243.12

$2,764,574.82

$2,772,867.10

$2,798,944.22

$2,898,906.51

2. Mo will receive a perpetuity of $34,000 per year forever, while Curly will receive the same annual payment for the next 50 years. If the interest rate is 7.8 percent, how much more are Mo's payments worth?

$9,081.16

$10,706.21

$10,196.39

$9,559.11

$9,877.75

Reference no: EM131976692

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