Which worker will have more in his or her account

Assignment Help Finance Basics

Reference no: EM13272210

Worker a annually invests $1000 in an IRA for 9 yrs(ages 27-35) and never makes anothere contribution. Worker b annually invests $1000 in an IRA for 30 yrs(ages 36-65). Which worker will have more in his or her account when he or she retires if they both earn 8% on their investment? How much?

Reference no: EM13272210

Questions Cloud

Compute the final equilibrium temperature : A 150 g block of ice at 0 C is dropped into 350 g of water at 25 C, compute the final equilibrium temperature

Calculate the series and parallel equivalent resistance : 1. Two resistors R1 = 5.6 kΩ and R2 = 3.3 kΩ are to be connected in series. Calculate the series equivalent resistance Rs. 2. The same two resistors are reconnected in parallel. Calculate the parallel equivalent resistance Rp.

Determine the length of the pulse : A pulsed laser emits light at a wavelength of 480.7 nm. The pulse duration is 12.1 ps and the energy per pulse is 0.190 J. What is the length of the pulse

Explain lauryl alcohol is obtained from coconut oil : Lauryl alcohol is obtained from coconut oil and is used to make detergents. A solution of 5.00 g of lauryl alcohol in 0.100 kg of benzene freezes at 4.1.

Which worker will have more in his or her account : Which worker will have more in his or her account when he or she retires if they both earn 8% on their investment? How much?

Define the mole fraction of benzene in the vapor : What is the mole fraction of benzene in the vapor above the solution described in part (a)

What is the ratio of the two wavelengths : Two narrow slits, illuminated by light consisting of two distinct wavelengths, produce two overlapping colored interference patterns on a distant screen. What is the ratio of the two wavelengths

Discuss a financial ratio : Discuss a financial ratio, its primary users (i.e., management, creditors, investors, etc.) and what the financial ratio indicates.

Explain the barometric pressure was 736 torr : An evaluation of R was performed, following the procedure described in this module. The barometric pressure was 736 torr, the temperature was 295k and volume of hydrogen gas collected was 35.6 mL. The calculated value of R was 82.1 mL atm K^-1 mol..

User Account

All Pages