Suppose someone wants to accumulate $120,00 for retirement in 30 years. The person has two choices. Plan A is a single deposit into an account with… | Cheap Nursing Papers

Suppose someone wants to accumulate $120,00 for retirement in 30 years. The person has two choices. Plan A is a single deposit into an account with…

Suppose someone wants to accumulate $120,00 for retirement in 30 years. The person has two choices. Plan A is a single deposit into an account with annual compounding and an APR of 4%. Plan B is a single deposit into an account with continuous compounding and an APR of 3.5%. How much does the person need to deposit in each account in order to reach the goal?

The person must deposit $______________ into the account for Plan A to reach the goal of $120,000.

(Round to the nearest cent as needed.)

"Get 15% discount on your first 3 orders with us"
Use the following coupon
FIRST15

Order Now

Hi there! Click one of our representatives below and we will get back to you as soon as possible.

Chat with us on WhatsApp