Your Client Is 30 Years Old And She Wants To Begin Saving For Retirement With The First Payment To Come One Year From 1 (175.28 KiB) Viewed 9 times
Your Client Is 30 Years Old And She Wants To Begin Saving For Retirement With The First Payment To Come One Year From 2 (215.4 KiB) Viewed 9 times
Your client is 30 years old, and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $9,500 per year, and you advise her to invest it in securities which you expect to provide an average annual return of 11 percent. If she follows your advice, how much money would she have at age 65? O a. $12,826,137.97 O b. $3,602,061.86 Oc$369,075.00 O d. $366,461.08 O e. $3,245,100.77
Susan recently received a credit card with a nominal interest rate of 17 percent. With the card, she purchased some new clothes for $425. The minimum payment on the card is only $20 per month. If Susan makes the minimum monthly payment and makes no other charges, how long will it be before she pays off the card? a. 16.5 months b. The card will never be paid off O c. 9.1 months O d. 25.5 months O e. 35.6 months
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