Individual retirement account

Assignment Help Mathematics
Reference no: EM131257884

An individual earns an extra $2000 each year and places this money at the end of each year into an Individual Retirement Account (IRA) in which both the original earnings and the interest in the account are not subject to taxation. If the account has an annual interest rate of 10.1% compounded annually, how much is in the account at the end of50 years? (Round your answer to the nearest cent.)

Reference no: EM131257884

Questions Cloud

Base and the height : Area of a triangle. The base of a triangle is 4 inches longer than the height. If its area is 70 square inches, then what are the base and the height?
Squares of the ages of sheri : The sum of the squares of the ages of Sheri's three kids is 114. If the twin girls are three years younger than the boy, then what are their ages?
What challenges does a security professional face : What is the difference between integrity and non-repudiation?
How long will the 10th surgery take : How long will the 10th surgery take? -  How much will the 10th surgery cost? -  How much will all 10 cost the hospital?
Individual retirement account : An individual earns an extra $2000 each year and places this money at the end of each year into an Individual Retirement Account (IRA) in which both the original earnings and the interest in the account are not subject to taxation. If the account ..
Describe virtual and augmented reality : Imagine you have been asked to help a novice designer effectively organize his menu content in an application. Provide the novice designer with the advice you feel would be most helpful when organizing content for menus. Support your response.
What were the outcomes of those practices : What are some real-world examples of ethical and unethical employment practices dealing with compensation (wage or benefits) you have read about, seen in the news, or encountered at your place of employment? What were the outcomes of those practic..
Future values of the ordinary annuities : Find the future values of the ordinary annuities at the given annual rate r compounded as indicated. The payments are made to coincide with the periods of compounding. (Round your answer to the nearest cent.)PMT = $140, r = 7.6%, compounded semian..
How much time should it take her to prepare the 15th lecture : Professor Mary Beth Marrs took 6 hours to prepare the first lecture in a new course. Traditionally, she has experienced a 90% learning curve. -  How much time should it take her to prepare the 15th lecture?

Reviews

Write a Review

 

Mathematics Questions & Answers

  Define a markov chain

Define a Markov chain with r+1 classes and find its transition probability matrix.

  Find the velocity acceleration and speed of a particle

Find the curvature of the curve r(t) = at the point (0,0,1)? Find the velocity, acceleration, and speed of a particle with position function r(t) = et

  Determine the stopping distance d of a car after the brakes

The stopping distance d of a car after the brakes are applied varies directly as the square of the speed r. If a car traveling 80 mph can stop i n360 ft, how many feet will it take the same car to stop when it is traveling 70 mph?

  Show the applications of exponential function

Applications of exponential function: Principal, rate, time - evaluate an exact solution and the check your solution using the estimate of the "law of 72".

  Construct a scatter diagram for the data points and plot

consider the following data values of a variable x and yx 54369810y 78105231construct a scatter diagram for the data

  Determining circumference and radius

What happens to the circumference of a circle if you double the radius? What happens if you double the diameter? What happens if you triple the radius?

  Prove equivalence relation

Prove equivalence relation

  Calculate the concentration of nh3 and nh4+

A solution was prepared by mixing 4.00 ml 0.20 M NH3, 1.00 ml of 0.20 M HCl, and 5.00 ml of water. Calculate the concentration of NH3 and NH4+ in the final diluted solution.

  Find all value on interval where function c is discontinuous

To send international first class mail (large envelopes) from the United States to Australia in 2010. Find all values on the interval (0, 64) where the function C is discontinuous.

  Across a state at the western edge of the state

1. Suppose that a cyclist began a 532 mi ride across a state at the western edge of the state, at the same time that a car traveling toward it leaves the eastern end of the state. If the bicycle and car met after 9.5   hr and the car traveled 35.8..

  Find the intersection points off

Find the intersection points off(x)=3x√x andg(x)=2x. For what interval is 3x√≥2x? Use GeoGebra to graph the individual functions and the combined function.

  Give a geometric description of the solution set

Follow the method of Example 3 to describe the solutions of the following system in parametric vector form. Also, give a geometric description of the solution set and compare it to that in Exercise 5.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd