User Account

All Pages

What is the effective annual rate if interest is compounded

Assignment Help Finance Basics
Reference no: EM132466844

Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 71.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 71.0 when he fully retires, he will begin to make annual withdrawals of $160,997.00 from his retirement account until he turns 92.00. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assume a 6.00% interest rate. Answer format: Currency: Round to: 2 decimal places.

Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 71.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 71.0 when he fully retires, he will begin to make annual withdrawals of $165,565.00 from his retirement account until he turns 89.00. After this final withdrawal, he wants $1.27 million remaining in his account. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be? Assume a 5.00% interest rate. Answer format: Currency: Round to: 2 decimal places.

A bank offers 10.00% on savings accounts. What is the effective annual rate if interest is compounded semi-annually? Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))

A bank offers 9.00% on savings accounts. What is the effective annual rate if interest is compounded quarterly? Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))

A bank offers 4.00% on savings accounts. What is the effective annual rate if interest is compounded monthly? Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))

Reference no: EM132466844

Questions Cloud

Managing operating exposure : The key to managing operating exposure at the strategic level is for management to recognize a disequilibrium in parity conditions when it occurs
Compute the present value and future value : You are deciding between two projects, both with discount rates of 5%. Compute the present value and future value for each project - which do you prefer?
Discuss about creating good password security : Learn About creating good password security. An IT Security consultant has made three primary recommendations regarding passwords: Prohibit guessable passwords.
What is the future value of 1000 dollars received : If the interest rate is 5 percent (r = 0.05), what is the future value of 1000 dollars received now in one year? Two years? Three years? Why?
What is the effective annual rate if interest is compounded : A bank offers 10.00% on savings accounts. What is the effective annual rate if interest is compounded semi-annually?
What sort of attacks might take place : You are the web master for the Republican Party National Committee. Prepare a risk assessment analysis for your website. Some questions to consider: What sort.
Describe five network penetration testing techniques : Do a bit of research on penetration testing techniques. Investigate and document the following: Five network penetration testing techniques.
Compare and contrast frye and bartky accounts of oppression : Compare WWI to WWII, identifying similarities in the causes, development, and outcomes of the wars. what are the major differences in their poetry?
Create a chart displaying that spending for each category : Create a chart displaying that spending for each category. Show the security clearance level for each employee and any other pertinent information.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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