Jason allen is 30 years and wants to retire when he is 65. so far he has saved (1) $6,960 in an ira account in which his money is earning 8.3 percent annually and (2) $4,310 in a money market account in which he is earning 5.25 percent annually. jason wants to have $1 million when he retires. starting next year, he plans to invest the same amount of money every year until he retires in a mutual fund in which he expects to earn 9.34 percent annually. how much will jason have to invest every year to achieve his savings goal?

It will make annual deposits for $ 4,056.202

Explanation:

His goal is a future value of 1,000,000 in 35 years.

we will deduct from this the future value of his other investment:

IRA

Principal6,960.00

time      35.00

rate                0.08300

Amount113,397.95

Market account

Principal4,310.00

time     35.00

rate               0.05250

Amount25,837.53

Proceeds required from the fund:

1,000,000 - 113,397.95 - 25,837.53 =  860,764.52

Now we calculate the PMT:

PV  $860,764.52

time      34 years

(we must notice it will beging this investment next year, so at 31 years old)

rate                0.0934

C  $ 4,056.202

the correct answer is - no.

winnipeg, canada, is not further away from the equator than moscow, russia, in fact moscow is the city that is further away from the equator. moscow is on a latitude of 55.7558° north, while winnipeg is on a latitude of 49.8951° north, thus putting moscow by 5.8607° further away from the equator than winnipeg is.

answer; buyer guide;