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san4es73 [151]
2 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]2 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

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When a watch is sold at ksh 126 aloss of x percent is made . If the same ksh 126, a loss of x percent is made . If the same watc
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ksh 140

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3 years ago
3.We-Haul rents a moving truck for 20.00$.and 0.45$.per mile. You-Haul rents the same size moving truck for 1.00$.per mile but w
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Answer:

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From the information given:

the business records show that the cost of the stores inventory items has been steadily increasing. the cost of the end of the year inventory is 200,000 and the cost of the beginning of the year inventory was 250,000.

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