Make equal contribution at the end of each of next six year

Assignment Help Financial Management

Reference no: EM131838467

Harold wants to accumulate $43,000.00 in savings to be available to him in 7 years, starting from nothing. He will make the first contribution in 1 year and then make an equal contribution at the end of each of the next 6 years. He can achieve a rate of return of 8.4%. How much will he have to contribute each year? What if the rate of return were 4.8%?

Reference no: EM131838467

Questions Cloud

How much will his roth ira be worth at that time : He will make the same contribution each year for 29 more years, and he will earn 6.8% per year. How much will his Roth IRA be worth at that time?

America love of the mystery genre : This week we'll focus on America's love of the mystery genre. You will incorporate research into your posts this week, and your research

How to exhibit personal responsibility : Is reasonable to assume that youth who grow up not seeing consistent example of personal responsibility may never learn how to exhibit personal responsibility?

World literature through the renaissance : Please provide specific examples from the reading that demonstrate where your perceptions changed.

Make equal contribution at the end of each of next six year : He will make the first contribution in 1 year and then make an equal contribution at the end of each of the next 6 years.

Prepare journal entries to record depreciation : Prepare journal entries to record depreciation for the item of machinery for the years ending 31 March 2014 and 31 March 2015. Show all workings

Why do you think poe includes these passages : Why do you think Poe includes these passages. Is he suggesting that the narrator's journey to the House of Usher and his stay at that house is a journey

What is the net total dollar advantage of purchasing : An outside supplier has offered to sell the company all of these parts it needs for $41.70 a unit. What is the net total dollar advantage of purchasing

What are the differences between hamlet and horatio : What are the differences between Hamlet and Horatio? Hamlet praises Horatio for being steadier than he but would one choose to be Horatio rather than Hamlet?

User Account

All Pages