help please! QUESTION 3 1.000 You invest in an IRA with an average interest rate

Question

help please!

QUESTION 3 1.000 You invest in an IRA with an average interest rate return of 75%. You open the account with S5000, Youthen invest $400 at the end of year 3,$7000 at the end of year 6 and $10000 at the end of year 10. If you remain inveeted for a total of 15 yeara from when you opened the account. what is the future kilo value of this IRA? Give your answer in dollars and round up cents if needed. Do not enter units, dollar signs or 1.000 QUESTION 4 An investment pays 8.5% compounded annually If $10000 is invested what will be it's future value in dollare at the end of ten yeara? Give your answer in dollars ignoring cents and do not type in the units

Explanation / Answer

3) Future Value $ 43,524.06 Working: Year Investment Future Value of 1 Future Value of Investment a b c=1.075^(15-a) b*c 0 $       5,000           2.9589 $ 14,794.39 3 400           2.3818           952.71 6           7,000           1.9172     13,420.67 10         10,000           1.4356     14,356.29 Total     43,524.06 4) Future Value $       22,610 Working: Future Value = $       10,000 x (1.085^10) = $       22,610

Related Questions

Navigate

• Browse (All)
• Browse H
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.