Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. francine currently has $50,000 in her 401k account

Francine currently has $50,000 in her 401k account at work, and plans to contribute $9,000...

80.2K

Verified Solution

Question

Finance

imageimage

Francine currently has $50,000 in her 401k account at work, and plans to contribute $9,000 each year for the next 15 years. How much will she have in the account in 15 years, if the account averages a 4% annual return? $ Suppose you invest $200 a month for 7 years into an account earning 10% compounded monthly. After 7 years, you leave the money, without making additional deposits, in the account for another 30 years. How much will you have in the end? $ Suppose instead you didn't invest anything for the first 7 years, then deposited $200 a month for 30 years into an account earning 10% compounded monthly. How much will you have in the end? $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students