Thursday
November 27, 2014

Homework Help: finance

Posted by Anonymous on Thursday, November 7, 2013 at 6:06pm.

A self-employed person deposits $3,000 annually in a retirement account (called a Keogh account) that earns 8 percent.
a. How much will be in the account when the individual retires at the age of 65 if the savings program starts when the person is age 40?
b. How much additional money will be in the account if the saver defers retirement until age 70 and continues the contributions?
c. How much additional money will be in the account if the saver discontinues the contributions at age 65 but does not retire until age 70?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

finance - A self –employed person deposits $3,000 annually in a retirement ...
Finance - A self-employed person deposits $3000 annually in a retirement account...
Investments - At the end of each year a self-employed person deposits $1,500 in ...
everest online - 2. At the end of each year a self-employed person deposits $1,...
busines finance - A self-employed person deposit $3000 annually into a ...
Math - Luis has $150,000 in his retirement account at his present company. ...
Economics - Ben deposits $5000 now into an account that earns 7.5 percent ...
Finance - You are planning to save for retirement over the next 35 years. To do...
finance - Mrs. Kay who is 24 years old plans to retire at the age of 60. Mrs. ...
math - Your invest $3,000 annually in a mutual fund that earns 10 percent ...

Search
Members