Homework Help Question & Answers

please do both questions 68. 69. Jeremiah has a long-term savings plan. For 10 years, he...

68. 69. Jeremiah has a long-term savings plan. For 10 years, he has been investing $150 a month, earning 4.25% interest compo

please do both questions

68. 69. Jeremiah has a long-term savings plan. For 10 years, he has been investing $150 a month, earning 4.25% interest compounded monthly. How much more would he have saved if he had chosen to make deposits of $200 a month? When using the financial calculator, be sure to indicate what you have entered for each parameter, to receive full marks. (5 marks) Darren is 30 and is debating whether he should start investing $100 a month now for retirement at 60 or if he should wait until he is more established at 40 and invest $200 a month then. If the investment earns approximately 10% p.a. compounded monthly, what would you recommend for saving the largest amount? Provide supporting evidence for your decision and indicate the values for any parameters used in financial calculator calculations. (7 marks)
0 0
Next > < Previous
ReportAnswer #1

QUESTION I Casel Future Value=PMT(1+r/k)k-1 r/k 10 Total Time Period(n) PMT r k 150 4.25% 12 Compounded monthly Future Value

Know the answer?
Add Answer of:
please do both questions 68. 69. Jeremiah has a long-term savings plan. For 10 years, he...
Your Answer: Your Name: What's your source?
Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Since he was 23 years old, Ben has been depositing $200 at the end of each...

    Since he was 23 years old, Ben has been depositing $200 at the end of each month into a tax-free retirement account earning interest at the rate of 5.5%/year compounded monthly. Larry, who is the same age as Ben, decided to open a tax-free retirement account 5 years after Ben opened his. If Larry's account earns interest at the same rate as Ben's, determine how much Larry should deposit each month into his account so that both men will have...

Free Homework App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
Share Your Knowledge

Post an Article
Post an Answer
Post a Question with Answer

Self-promotion: Authors have the chance of a link back to their own personal blogs or social media profile pages.