Two brothers each open IRAs in 2009 and plan to invest $3,000 per year for the next 30 years. John makes his first deposit on January 1, 2009, and will make all future deposits on the first day of the year. Bill makes his first deposit on December 31, 2009, and will continue to make his annual deposits on the last day of each year. At the end of 30 years, the difference in the value of the IRAs (rounded to the nearest dollar), assuming an interest rate of 7% per year, will be
A) $19,837.
B) $12,456.
C) $6,300.
D) $210.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Two brothers each open IRAs in 2009 and plan to invest $3,000 per year for the next 30 years. John makes his first deposit on January 1, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
For a given company, total assets are $260,000, current liabilities are $10,000, long-term liabilities are $60,000, common stock is $150,000, and retained earnings is $40,000. how much is total stockholders' equity?
Answers (1)
If the expenses for producing an item are more than what you can sell it for you will experience a
Answers (2)
What percentage do real estate investors make on average in total?
Answers (2)
Does it make sense for ethan to take a year off of school to raise the money?
Answers (1)
To receive a higher interest rate as an investor, you usually have to do what? A. Open a savings account. B. Negotiate with a company. C. Take more risk. D. Get a job. A?
Answers (1)
New Questions in Business
Which is more likely to give you a greater rate of return: a checking deposit at a bank or the purchase of a corporate bond?
Answers (1)
Interim financial statements: are always prepared before any adjustments have been recorded. show the assets above the liabilities and the liabilities above the equity. cover less than one year, usually spanning one-, three-, or six-month periods.
Answers (1)
Omaha Plating Corporation is considering purchasing a machine for $1,500,000. The machine is expected to generate a constant after-tax income of $100,000 per year for 15 years.
Answers (1)
36. A manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing, is called: a. outsourcing. b. mediation. c.
Answers (2)
The demand for salt is inelastic, and the supply of salt is elastic. The demand for caviar is elastic, and the supply of caviar is inelastic.
Answers (1)