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grandymaker [24]
3 years ago
15

How much will you have if you wait 10 years before beginning to save and only make 35 payments into your retirement​ account?

Business
1 answer:
Ivahew [28]3 years ago
4 0
It all dependes on the money you make and how big the payments are. as you can say you waited tell the day you where going to retire but you but 10,000 dollars in your saving every hour by the end of the day youd have 240,000 dollars in your retirement account.
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Answer:

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Obviously, the option with lower Present Value would be the best option to buy the car. The Present Value of the options can find out as following

REQUIREMENT A

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Rebate = $4,600

Present value of the payments for option  = Price of the car – rebate  

Present value of the payments for option (a) = $24,600 - $4,600

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REQUIREMENT B

We can use the following Present Value of an Annuity formula to calculate the present value of the payments

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Monthly interest rate i=1.25% per month or 0.0125

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REQUIREMENT C.

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