How many years will it take you to reach your goal

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Reference no: EM13262190

1.) If you deposit $10,000 in a bank account that pays 10% interest annually, how much will be in your account after 5 years?

2.) What is the present value of a security that will pay $5,000 in 20 years if securities of equal risk pay 7% annually?

3.) Your parents will retire in 18 years. They currently have $250,000 and they think they will need $1,000,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds?

4.) If you deposit money today in an account that pays 6.5% annual interest, how long will it take to double your money?

5.) You have $42,180.53 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until you account totals $250,000. You expect to earn 12% annually on the account. How many years will it take you to reach your goal?

Reference no: EM13262190

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