What will the total value of retirement accounts

Assignment Help Financial Management

Reference no: EM131940036

Dan Hook deposits $400 a month to a retirement account that has interest rate of 3.1%, compounded monthly. After making 60 deposits, Dan changes his job and stops making payments for 3 years. After 3 years, he starts making deposits again, but now he deposits $525 monthly. What will the total value of the retirement accounts be a. After Dan makes his $400 monthly deposit for five years? b. Eight years after his first deposit of $400? c. After Dan makes his $525 monthly deposits for 5 years?

Reference no: EM131940036

Questions Cloud

Identify the choices with their pros and cons : Given that Dr. Louis Mickael prefers not to retire just now, what recommendations exist for him? Identify the choices with their pros and cons.

Face a variety of security threats : Individuals and organizations today face a variety of security threats. To protect themselves from these threats

What is the definition of team development : What is the definition of team development? with reference.

Kind of situation supervisor or an employee : Can you terminate an employee if he/she doesn't have updated license to work? who is responsibility for this kind of situation supervisor or an employee?

What will the total value of retirement accounts : What will the total value of the retirement accounts be

Keystone investor present any special concern : Was their Letter of Agreement a wise step? Does the fact that Mr. D'Arcy is the keystone investor present any special concern for either woman?

How much interest must ashley earn to become millionaire : Her money market fund has a balance of $400,000. How much interest must Ashley earn to become a millionaire ($1,000,000) in eight years?

Situational analysis and strategy formulation : Why directional strategies are both a part of situational analysis and strategy formulation?

Are human beings intrinsically good or evil : Cultural patterns also tell people how to locate themselves in relation to the spiritual world, nature, and other living things.

User Account

All Pages