(Answered) Imagine investing 250 monthly into a 401k retirement

Finance

Imagine investing $250 monthly into a 401(k) retirement account that averages an APR of 7% compounded monthly. If this is done consistently for 45 years until retirement. Use the savings plan formula to calculate your final balance (future value). After this calculation, find how much of this future value is principal and how much is interest.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92679381
Price:- $10

Verified Expert

Priced at $20 Now at $10, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Question - john roberts has 4218053 in a brokerage account

Question - John Roberts has $42,180.53 in a brokerage account, and he plans to contribute an additional $5,000 to the account at the end of every year. The brokerage account has an expected annual return of 12 percent. I ...

Define and fully explain marketing research and the

Define and fully explain marketing research and the marketing concept and describe the relationship between marketing research and the marketing concept.

You want to borrow 36000 from your local bank to buy a new

You want to borrow $36,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $750, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR ...

Stock x has a beta coefficient of 20 and stock y has a beta

Stock X has a beta coefficient of 2.0 and stock Y has a beta coefficient of 1.5. The expected rate of return on an average stock is 11% and the risk-free rate is 5%. By how much does the required rate of return on the ri ...

These two companies are investigating similar projects but

These two companies are investigating similar projects (but not both projects) in which they will invest. The characteristics of the two systems are given below: Project 1 Project 2 Initial Outlay (IO) ...

You are planning to make annual deposits of 4440 into a

You are planning to make annual deposits of $4,440 into a retirement account that pays 9 percent interest compounded monthly. How large will your account balance be in 32 years? (Do not round intermediate calculations a ...

Corporate finance questionan investment pays you 30000 at

Corporate Finance Question: An investment pays you $30,000 at the end of this year, and $10,000 at the end of each of the four following years. What is the present value (PV) of this investment, given that the interest r ...

Corporate finance chapter 6 6 1 how to determine the future

Corporate finance chapter 6. 6. 1. How to determine the future and present value of investments with multiple cash flows? Explain theoretically

Bob millers long-term financial goal is to retire

Bob Miller's long-term financial goal is to retire comfortably in 23 years at age 65. You have conducted a robust risk profile analysis on him and have determined that he is an aggressive investor. Miller insisted on all ...

What are the ways that it can help comply with legal

What are the ways that IT can help comply with legal requirements and social responsibilities surrounding the sales of alcohol?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert