subject
Mathematics, 08.04.2020 21:21 havanaoohnana

Cynthia opened a retirement account with $23,000. The fund pays 2.9% interest compounded monthly. Cynthia expects to retire in 30 years. She also does not plan to make any payments into this account. She used the TVM Solver to help her predict how much her retirement fund will be worth in 30 years (see below). What did she do incorrectly? What can she do to fix her mistake? N = 360, I% = 2.9, PV = -$23,000, FV = ?, P/Y = 12, C/Y = 12

a. She used the wrong value for PV. She should have used $23,000.

b. She used the wrong value for I%. She should have used .242 which is (2.9/12).

c. She used the wrong value for P/Y. She should have used a lower number.

d. She used the wrong value for N. She should have used 30.

e. Cynthia didn’t make any mistakes.

ansver
Answers: 2

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 13:20, lorenaandreahjimenez
Figure abcd is a parallelogram. if point c lies on the line x = 2, what is the y-value of point c?
Answers: 1
image
Mathematics, 21.06.2019 20:00, xxaurorabluexx
Credit card a offers an introductory apr of 3.4% for the first three months and standard apr of 15.7% thereafter,
Answers: 3
image
Mathematics, 21.06.2019 20:30, savannahvargas512
For g(x) = 5x - 3 and h(x) = [tex]\sqrt{x}[/tex], find (g · h)(4)
Answers: 1
image
Mathematics, 21.06.2019 22:50, suselygonza
Angle that produces maximum distance
Answers: 1
You know the right answer?
Cynthia opened a retirement account with $23,000. The fund pays 2.9% interest compounded monthly. Cy...

Questions in other subjects:

Konu
Mathematics, 12.10.2020 20:01
Konu
Chemistry, 12.10.2020 20:01
Konu
Mathematics, 12.10.2020 20:01