1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
san4es73 [151]
3 years ago
9

If you set aside $9000 at the end of each year for the next 22 years in a Roth IRA, how much will you have at your retirement 22

years from today if your IRA earns 7.8% annual percentage rate (APR) with quarterly compounding?

Mathematics
1 answer:
madam [21]3 years ago
7 0

Answer:

$501,049.37

Step-by-step explanation:

For computing the amount after 22 years we need to applied the future value which is shown in the attachment below:

Given that

PMT = $9,000

NPER = 22 years  

Annual rate = 0.078

Quarterly= 0.078 ÷ 4 = 0.0195

Effective annual rate = (1.0195^4) - 1 = 0.0803113041

Now applied the formula which is given below

= -FV(RATE;NPER;PMT;PV)

After applying the above formula, the future value is $501,049.37

You might be interested in
After an office party, 4 1/3 pizzas are left. A day later, there are 1 5/6 pizzas left. How munch pizza was eaten during the day
IceJOKER [234]

Answer:

15/6 pieces of pizza were eaten. Which is equivalent to 2.5. So 2.5 pizzas were eaten.

Step-by-step explanation:

Just did the math. Convert 4 1/3 to 0/6. So 1 times 2 is 2, and 3 times 2 is 6. Which would give you 4 2/6 which has the same denominator as 1 5/6.

8 0
2 years ago
6
GalinKa [24]

Answer:

I don't know sorry

sorry

Step-by-step explanation:

I don't know sorry

sorry

3 0
2 years ago
Tanya's father travels every week for business. He has traveled around the
Nikitich [7]

The correct answer would be: 4.6 x 10^5

8 0
2 years ago
Divide nine by three, then subtract two double the results
Nuetrik [128]

Answer:

2

Step-by-step explanation:

hope this helps

3 0
3 years ago
Read 2 more answers
Which ratio is equal to 3: 5?
Vladimir [108]

Answer:

three to five or three over five  that one is like division

Step-by-step explanation:

6 0
2 years ago
Read 2 more answers
Other questions:
  • What are the factors of the trinomial x^2+6x-7
    7·1 answer
  • 36x + 4) = 18 (Given)
    7·1 answer
  • I need help solving<br> simplify 12 over 14
    14·2 answers
  • I really need help ! asap plz
    15·1 answer
  • What do a rectangle and a rhombus have in common? Select all that apply.
    13·1 answer
  • A postulate can also be called a(n)
    5·1 answer
  • Ms. Tucker travels through two intersections with traffic lights as she drives to the market. The traffic lights operate indepen
    15·1 answer
  • How to you find out the angles in a regular polygon​
    12·1 answer
  • With work please, thank you :)
    11·1 answer
  • A principal of $3100 is invested at 8.25% interest,compounded annually.How many years will it take to accumulate $10,000 or more
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!