User Account

All Pages

How much is the ira worth when bob retires

Assignment Help Finance Basics
Reference no: EM131725691

Bob makes his first $1,200 deposit into an IRA earning 6.5% compounded annually on the day he turns 24 and his last $1,200deposit on the day he turns 44 (21 equal deposits in all.) With no additional deposits, the money in the IRA continues to earn 6.5% interest compounded annually until Bob retires on his 65th birthday. How much is the IRA worth when Bob retires? Value of the IRA on Bob's 65th birthday:

(Note: The answer is a dollar amount, should include a dollar sign, and should be accurate to two decimal places).

Reference no: EM131725691

Questions Cloud

What are the characteristics of the program : How do special needs, mentally ill, and substance-abusing prisoners affect the jail and prison systems at state and federal levels?
Total amount of interest paid : Mr. Smith is purchasing a $ 160000 house. The down payment is 20 % of the price of the house.
How you would assess demand for and cost to produce product : determine how you would assess demand for and the cost to produce your product or deliver your service and establish a price.
Explain the civil rights act of 1964 : Do you think that these five classes are the most important classes, or would you have chosen other classes such as Age, Sexual Orientation, etc.?
How much is the ira worth when bob retires : With no additional deposits, the money in the IRA continues to earn 6.5% interest compounded annually until Bob retires on his 65th birthday.
Create a plan that demonstrates understanding of tort law : Create a plan that demonstrates your understanding of tort law.develop a plan to identify and minimize potential tort risks.
Dividend-discount model predict colgate stock : If? Colgate's equity cost of capital is 7.3 %per? year, what price does the? dividend-discount model predict Colgate stock should sell for? today?
How well you executed the research : If your report is not easily understandable, management will likely not respond well to your findings, regardless of how well you executed the research.
Constant annual dividend : The company pays a constant annual dividend and has a dividend yield of 8 percent. What is the amount the dividend?

Reviews

Write a Review

Finance Basics Questions & Answers

  Two independent random samples

Consider the following summary statistics (READ it from the attach file), calculated from two independent random samples taken from normally distributed populations.

  Te term structure of swap rates is 1-year 250 2-year 300

the term structure of swap rates is 1-year 2.50 2-year 3.00 3-year 3.50 4-year 4.00 5-year 4.50. the two-year forward

  What is the actual rate being charged on these loans

The pawn shop loans money at an annual rate of 23 percent and compound interest weekly. What is the actual rate being charged on these loans? Suppose there are 365 days in a year and 7 days in a week and round the compounding frequency to the near..

  What probably happened to the value of the stones over time

What probably happened to the value of the stones over time? What would the consequences likely have been if someone had discovered a large quantity of new stones?

  What would be the yearly earnings for a person

what would be the yearly earnings for a person with $14,300 in savings at an annual interest rate of 14.5 percent?

  How much more money can publisher put into advertising

Assume authors' royalties are reduced and sales remain constant; how much more money can the publisher put into advertising (a fixed cost) and still break even?

  What is the project average accounting return

If the plant has projected net income of $1,735,000, $2,105,000, $1,954,000, and $1,286,000 over these four years, what is the project's average accounting return (AAR)?

  If the company plans to pay a dividend of 385 next year

the stock price of webber co. is 68. investors require an 11 percent rate of return on similar stocks.requiredif the

  Explain valuing bond based on the yield to maturity rate

Explain Valuing Bond based on the yield to maturity rate and calculate the price of the bonds at the following years to maturity and fill in the following table

  Calculate the present value for investment

Suppose that Sam invested his $1million in the commercial bond of the IntTrade Corp., they promised to pay him USD 230000 annually for 5 years, calculate the present value (PV) for this investment?

  Cmpute the beta of portfolio

The market portfolio is assumed to be composed of two securities, Investment X and Investment Y as given below. Determine based on the information given the average return,

  What is the least that each of the bonds is worth today

What is the least that each of the bonds is worth today? Comment on the function of the bond valuation procedure for convertibles.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd