Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you have $31,253.24 in a brokerage account, and yo

You have $31,253.24 in a brokerage account, and you plan to deposit an additional $3,000...

50.1K

Verified Solution

Question

Finance

image

image

image

You have $31,253.24 in a brokerage account, and you plan to deposit an additional $3,000 at the end of every future year until your account totals $200,000. You expect to earn 11% annually on the account. How many years will it take to reach your goal? Round your answer to the nearest whole number years What's the future value of a 6%, 5-year ordinary annuity that pays $100 each year? If this was an annuity due, what would its future value be? Do not round intermediate calculations. Round your answers to the nearest cent. Future Value of an Ordinary Annuity: $ Future Value of an Annuity Due: $ Find the future values of these ordinary annuities. Compounding occurs once a year. Do not round intermediate calculations. Round your answers to the nearest cent. a. $1,000 per year for 12 years at 16%. $ b. $500 per year for 6 years at 8%. $ c. $200 per year for 6 years at 0%. $ d. Rework parts a, b, and c assuming they are annuities due. Future value of $1,000 per year for 12 years at 16%: $ Future value of $500 per year for 5 years at 8%: $ Future value of $200 per year for 6 years at 0%: $

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

Basic Math
1.2K views

Give a proof by contradiction to show that if two lines l and m are cut...

Chemistry
1.2K views

A voltaic cell consists of a Pb/Pb2+ half-cell and a Cu/Cu2+ half-cell at 25 ∘C. The...

Physics
1.2K views

The graph between two temperature scales A B is shown between upper fixed point and...

Basic Math
1.2K views

In Harrison Bergeron why does George have a mental handicap in his ear He was...

Basic Math
1.2K views

The pulse rates of 174 randomly selected adult males vary from a low of 35...

Calculus
1.2K views

Suppose that lim f x 9 and lim g x 3 Compute the limits that...

Accounting
1.2K views

Styles Pane Problem 1 (13 points): Lafayette Furniture refinishes old wood...

Accounting
1.2K views

Required information Problem 4-18 (Algo) Contrasting Activity-Based Costing and Conventional Product...

Accounting
1.2K views

Wildhorse Ranch Inc. has been manufacturing its own finials for its curtain rods. The company...

Accounting
1.2K views

Purchased short-term investments for $10,000 cash. b. Lent $5,000 to a supplier, who signed...

Accounting
1.2K views

____ 18. The tax benefit received from a tax credit is affected by the tax...

Finance
1.2K views

Question 9 5 pts Sapp Trucking's balance sheet shows a total of non-callable $45 million...