Ask a New Question

Question

In 2012 the maximum Social Security deposit by an individual was $8,386.75. Suppose you are 33 and make a deposit of this amount into an account at the end of each year. How much would you have (to the nearest dollar) when you retire if the account pays 2% compounded annually and you retire at age 65?
3 years ago

Answers

mathhelper
Amount = 8386.75( 1.02^32 - 1)/.02
= ....
3 years ago
Darlene
Thank you!
3 years ago

Related Questions

Consider the following two securities X and Y X y Return- 20.0%... 2012 with a power of 2012 What would be the value of security which will pay you Rs. 10000, 11000, 13000, 14000, 15000 in next... What is the most common PC security risk? Choose the answer. Question 1 options: sharing passw... What is the most common PC security risk? Choose the answer. Question 13 options: data entry e... x(x-2012) - 2013x + 2012 * 2013=0 find x The 2012 General Social Survey asked a large number of people how many times they spent watching TV... In 2012 the General Social Survey asked 833 adults how many years of education they had. The sample... True or False Da social security ACT provide benefits 4 unemployment n retirement True Fal... A company implements a new security protocol that requires employees to use a two-factor authenticat...
Ask a New Question
Archives Contact Us Privacy Policy Terms of Use