Regular contribution to his retirement account is expected

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Reference no: EM131020053

1) In 2 years from today, steph plans to invest $ 6500 in an account that is expected to earn 3.15 percent per year. She also expects to make an investment of X in the same account in 1 year from today. What is X If steph expects to have 23200 dollars in her account in 11 years from today and the expected return for this account is 3.15 percent per year ?

2) Piotr plans to make regular savings contribution of 7500 dollars per year to his retirement account for 10 years. His first regular contribution to his retirement account is expected in 1 year. In addition, he also plans to make one time special contribution of 10000 dollars to his retirement account in four years from today. Piotr expects to earn 16.49 percent per year in his retirement account and he expects to retire in 10 years. How much money does Piotr expects to have in his account when he retires, immediately after making his last contribution?

Reference no: EM131020053

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