How to invest in retirement account

Reference no: EM1359634

Robert deposits $150 monthly into a retirement account that has an APR of 5% with monthly compounding. What will this be worth in 40 years from today if it has $5,000 in it today?

a. What will this be worth in 40 years from today if it has $5,000 in it today?

b. How much would he need to deposit monthly to achieve $500,000 in 40 years if it has $5,000 in it today?

Reference no: EM1359634

Questions Cloud

Budgets for different types of organizations : Please address the differences in creating budgets for the following entities: manufacturing, non-manufacturing, serviced-based business, and not-for-profit organizations.

Explain corporate strategies and operating plan : Mission statement; corporate scope; statement of corporate objectives; corporate strategies and operating plan; financial plan; sales forecast

Cases related to counseling and psychotherapy : Landmark legal cases related to counseling and psychotherapy have led to changes in prevailing federal and state statutes and case law

Expected dividend yield and expected capital gains yield : Quest Laboratories last dividend was $1.50. It's current equilibrium stock price is $15.75, and its expected growth rate is a constant 5%. If your required rate of return is 15 percent,

How to invest in retirement account : Robert deposits $150 monthly into a retirement account that has an APR of 5% with monthly compounding. What will this be worth in 40 years from today if it has $5,000 in it today?

Legal implications in terms of children and parents : Offer some thoughts on the legal implications of the no child left behind act based upon the APA ethical principles. This would include the legal implications in terms of children, parents, teachers and the school systems.

Design verilog model-hardware and software driver : Design the Verilog model, hardware, and the software driver that will implement a byte-wide bidirectional data transfer between your processor and four different peripheral devices.

Analysis of agency : Identify a public agency - either at the local, state, or federal levels - that has undergone significant change in the last 25 years. You may choose an agency that you have had personal experience with, or you may choose a public agency that you ..

Calculate the future stock price : The Canning Company has been hit hard by increased competition. Analysts predict that earnings and dividends will decline at a rate of 5 percent yearly into the forseeable future.

User Account

All Pages