Lindsay is 25 years old and has a new job in Web development. Lindsay wants to m
ID: 2759622 • Letter: L
Question
Lindsay is 25 years old and has a new job in Web development. Lindsay wants to make sure she is financially sound in 30 years, so she plans to invest the same amount into a retirement account at the end of every year for the next 30 years. Construct a data table that will show Lindsay the balance of her retirement account for various levels of annual investment and return. Develop the two-way table for annual investment amounts of $5,000 to $20,000 in increments of $1,000 and for returns of 0 to 12 percent in increments of 1 percent.
Explanation / Answer
Solution.
Rate of interest Year Amolunt 1 2 3 4 5 6 7 8 9 10 11 12 30 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 6,739 9,057 12,137 16,217 21,610 28,718 38,062 50,315 66,340 87,245 114,460 149,800 30 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 8,087 10,868 14,564 19,460 25,931 34,461 45,674 60,378 79,608 104,694 137,352 179,760 30 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 9,435 12,680 16,991 22,704 30,253 40,205 53,286 70,441 92,876 122,143 160,244 209,720 30 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 10,782 14,491 19,418 25,947 34,575 45,948 60,898 80,504 106,144 139,592 183,136 239,680 30 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 12,130 16,303 21,846 29,191 38,897 51,692 68,511 90,567 119,412 157,041 206,028 269,640 30 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 13,478 18,114 24,273 32,434 43,219 57,435 76,123 100,630 132,680 174,490 228,920 299,600 30 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 11,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 14,826 19,925 26,700 35,677 47,541 63,179 83,735 110,693 145,948 191,939 251,812 329,560 30 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 16,174 21,737 29,128 38,921 51,863 68,922 91,348 120,756 159,216 209,388 274,704 359,520 30 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 13,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 17,521 23,548 31,555 42,164 56,185 74,666 98,960 130,819 172,484 226,837 297,596 389,480 30 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 14,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 18,869 25,360 33,982 45,408 60,507 80,409 106,572 140,882 185,752 244,286 320,488 419,440 30 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 20,217 27,171 36,410 48,651 64,829 86,153 114,185 150,945 199,020 261,735 343,380 449,400 30 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 21,565 28,982 38,837 51,894 69,150 91,896 121,797 161,008 212,288 279,184 366,272 479,360 30 17,000 17,000 17,000 17,000 17,000 17,000 17,000 17,000 17,000 17,000 17,000 17,000 17,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 22,913 30,794 41,264 55,138 73,472 97,640 129,409 171,071 225,556 296,633 389,164 509,320 30 18,000 18,000 18,000 18,000 18,000 18,000 18,000 18,000 18,000 18,000 18,000 18,000 18,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 24,260 32,605 43,691 58,381 77,794 103,383 137,021 181,134 238,824 314,082 412,056 539,280 30 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 19,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 25,608 34,417 46,119 61,625 82,116 109,127 144,634 191,197 252,092 331,531 434,948 569,240 30 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 FV Factore 1.3478 1.8114 2.4273 3.2434 4.3219 5.7435 7.6123 10.063 13.268 17.449 22.892 29.96 FV 26,956 36,228 48,546 64,868 86,438 114,870 152,246 201,260 265,360 348,980 457,840 599,200Related Questions
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