Early start on retirement saving

Assignment Help Basic Computer Science
Reference no: EM132271969

Tom decides to get an early start on retirement saving and, beginning at age 22, he invests $3,000 per year in a Roth IRA for 10 years in a row. At that point, he stops contributing to the account but leaves the money invested until age 65 (a period of 33 years). Harry doesn't start investing until he's 32 but from then on invests $3,000 in a Roth IRA each year for 33 years until retirement at age 65. If both men earn 10 percent per year on their investments, compounded annually, which one has more in the account at the end? How much more?

Reference no: EM132271969

Questions Cloud

Explain why the team performed so well or so poorly : Discuss the team dynamics for a highly effective or ineffective team of which you were a member.
What about off-site storage of backups : Discuss the issue of securing backups. There have been several incidents lately in which backup media containing personal customer information.
What is your pre-tax rate of return : During the year, you received $3.25 in dividends per share. ABC is now worth $88.00 per share. What is your pre-tax rate of return?
Calculating returns and variability : You find a certain stock that had returns of 11 percent, -15 percent, 32 percent, and 8 percent for four of the last five years. Assume the average return
Early start on retirement saving : Tom decides to get an early start on retirement saving and, beginning at age 22, he invests $3,000 per year in a Roth IRA for 10 years in a row.
Discuss about the globalization and outsourcing : Develop an annotated bibliography on one of the following factors that has had a significant impact on business and management communication.
How much can you withdraw each month : You have saved 1, 875,000 and have just retired. Assuming you will make 4% in your money, how much can you withdraw each month if you plan on having
Do research to compare and contrast the leadership styles : Steve Jobs was a strong, charismatic leader who co-founded Apple and is credited with much of the success of the company.
Discuss about the design of a database : The database, which is used to store and collect the data which is given by the responsible persons, data-based is runs based on the services like SQL.

Reviews

Write a Review

Basic Computer Science Questions & Answers

  Symbolize the inversion of the output signal

To symbolize the inversion of the output signal, the logic gate has a bubble on the output line. What is the inversion of AND gate. Picture please.

  Describe step by step how you arrived at the solution

Describe step by step how you arrived at the solution. In particular, explain how you determined p, q, f(n), and d.

  Major limitations of linear programming

What are its major limitations of linear programming? Suggest methods to alleviate these limitations?

  An analysis of the security issues associated with batch fil

For this writing assignment you will be required to provide an analysis of the Security issues associated with batch files, Visual Basic and other forms of scripting.

  What is an abstract class in java? provide an example.

This is for Java experts only! The answers need to include a small bit of Java code.

  Problem regarding the copyright protection

Invisible watermarking is a popular method for copy prevention and control. Can invisible watermarks absolutely resolve ownership disputes?

  Occurrence of max numbers

Write program that reads integers, finds the largest of them, and counts its occurrences. Assume that the input ends with number 0.

  Analyze the simple cost modeling calculation

Research a recent (within 5 years OK) software defect or hack. Apply the simple cost modeling calculation we reviewed in Lecture 1 and write a 1 page.

  Using positive edge triggered t

Using positive edge triggered T flip flops, show the design of a modulo 7 asynchronous counter that counts 0,1...6,0, etc. You may assume that your flip flop

  It has two member variables: m range is a pointer

It has two member variables: m range is a pointer to an array of ints, and m size the number of elements in that array.

  Determine the horizontal force that must be applied

determine the horizontal force that must be applied perpendicular to the handle at E. Each single square threaded screw has a mean diameter of 25 mm and a lead of 7.5 mm. The coefficient of static friction is µs = 0.25 .

  Provide the sql statement below

Create a new query to display all authors with last name of "Smith" and all books by this author. Show author id, author first name, author last name, title id, and title. Group data by title id. Provide the SQL statement below:

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