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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

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3 years ago
I posted a question similar to this but I entered it wrong too many times :(
slava [35]

Answer:

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Step-by-step explanation:

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Kwans The Kenningy account balance was $20 his ending balance is zero dollars what integer represents the changing in his accoun
77julia77 [94]

The integer number that represents the changing in his account balance from beginning to end is of -20.

<h3>Which numbers belong to the set of integer numbers?</h3>

Non-decimal numbers, either positive or negative numbers, also zero, belong to the set, which can be represented by:

Z = {..., -3, -2, -1, 0, 1, 2, 3, ...}

A change can be represented by the <u>final value subtracted by the initial value</u>. For this problem, we have that:

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Hence the change in the balance is:

0 - 20 = -20.

And the integer is -20.

More can be learned about integer numbers are brainly.com/question/17405059

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6 0
1 year ago
Give an example of each of the following types of data: qualitative, quantitative, discrete, and continuous. ​
faust18 [17]

Answer:

Continuous: Height, weight, annual income.

Discrete: Number of children, number of students in a class.

Continuous data (like height) can (in theory) be measured to any degree of accuracy. If you consider a value line, the values can be anywhere on the line. For statistical purposes this kind of data is often gathered in classes (example height in 5 cm classes).

Discrete data (like number of children) are parcelled out one by one. On the value line they occupy only certain points. Sometimes discrete values are grouped into classes, but less often.

Step-by-step explanation:

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Oduvanchick [21]
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