Yo ur ans wer sco re ex p lanatio n 5 0 0 corre c t

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Unformatted text preview: ur Ans wer Sco re Ex p lanatio n 5 .0 0 Corre c t. You unde rsta nd c ompounding. True Fa lse Tota l 5 .0 0 / 5 .0 0 Ques tio n Ex p lanatio n Ba sic s of c ompounding. Question 2 (5 points) Gloria is 35 a nd trying to pla n for re tire me nt. She ha s put a budge t toge the r a nd pla ns to sa ve $4,800 pe r ye a r, sta rting a t the e nd of this ye a r, in a re tire me nt fund until she is 65. https://c la ss.c our se r a .or g/intr of ina nc e - 005/quiz /f e e dba c k? submission_id= 92142 1/8 16/2/2014 Quiz Fe e dba c k | Cour se r a Assume tha t she c a n ma ke 7% on he r a c c ount. How muc h will she ha ve for re tire me nt a t a ge 65? Yo ur Ans wer Sco re Ex p lanatio n 5 .0 0 Corre c t. You know how to c a lc ula te the FV of a n a nnuity. 499245 345514 453412 144000 Tota l 5 .0 0 / 5 .0 0 Ques tio n Ex p lanatio n FV of a n a nnuity c a lc ula tion. She should ha ve a minimum of $144,000. Why? Question 3 (5 points) Moha mma d ha s just turne d 21 a nd now ha s a c c e ss to the mone y his pa re nts ha ve be e n putting a wa y in a n a c c ount for him sinc e he wa s 5 ye a rs old. His mothe r ha s a ske d him...
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