Solve the problem.Looking ahead to retirement, you sign up for automatic savings in a fixed-income 401K plan that pays 6% per year compounded annually. You plan to invest $3000 at the end of each year for the next 25 years. How much will your account have in it at the end of 25 years?
A. $163,051
B. $166,364
C. $164,594
D. $165,892
Answer: C
Mathematics
You might also like to view...
Differentiate the function.r(t) = (-8t2 - 11)i + j
A. r'(t) = (-16t)i - j
B. r'(t) = i + (-16t)j
C. r'(t) = (-16)i + j
D. r'(t) = (-16t)i + j
Mathematics
Simplify using scientific notation. Give your answer in scientific notation.
A. 0.00 B. 1.00 × 10-2 C. 8.09 × 103 D. 1.00 × 104
Mathematics
Write the fraction in decimal notation.
A. 0.65 B. 0.76 C. 0.076 D. 7.6
Mathematics
Solve the problem.A venture capital firm invested $2,000,000 in a new company in 1995. In 1999, they sold their stake in the company for $10,500,000. What was the average annual rate of return on their investment?
Fill in the blank(s) with the appropriate word(s).
Mathematics