Allie Maxudywishes to retire 25 years. She has decided that she should be able to invest $5000 per year in her retirement fund. If she makes the payments in quarterly installments at the beginning of the each year, and earn an annual percentage rate of 8% on her money how much she will have at the time of her retirement?

$394,772.11

Step-by-step explanation:

This requires using compound interest as follows:

Principal = $5,000

Time = 25 years

Interest rate per annum = 8%

1st year: principal = 5000

Interest capitalized (5000*0.08) = 400

Amount (5000 + 400) = $5400

2nd year: principal = 5400 + 5000 = 10,400

Interest capitalized (10,400*0.08) = 832

Amount (10,400 + 832) = $11,232

3rd year: principal = 11,232+5000 = $16,232

Interest capitalized (16,232*0.08) = 1,298.56

Amount (16,232+1,298.56) = $17,530.56

4th year: principal = 17,530.56+5000 = $22,530.56

Interest capitalized (22,530.56*0.08) = 1,802.45

Amount (22,530.56+1,802.45) = $24,333.01

5th year: principal = 24,333.01+5000 = $29,333.01

Interest capitalized (29,333.01 * 0.08) = 2,346.64

Amount (29,333.01 + 2,346.64) = $31,679.65

6th year: principal = 31,679.65 + 5000 = $36,679.65

Interest capitalized (36,679.65 * 0.08) = 2,934.37

Amount (36,679.65 + 2,934.37) = $39,614.02

7th year: principal = 39,614.02 + 5000 = $44,614.02

Interest capitalized (44,614.02 * 0.08) = 3,569.12

Amount (44,614.02 + 3,569.12) = $48,183.14

8th year: principal = 48,183.14 + 5000 = $53,183.14

Interest capitalized (53,183.14 * 0.08) = 4,254.65

Amount (53,183.14 + 4,254.65) = $57,437.79

9th year: principal = 57,437.79 + 5000 = $62,437.79

Interest capitalized (62,437.79 * 0.08) = 4,995.02

Amount (62,437.79 + 4,995.02) = $67,432.81

10th year: principal = 67,432.81 + 5000 = $72,432.81

Interest capitalized (72,432.81 * 0.08) = 5,794.63

Amount (72,432.81 + 5,794.63) = $78,227.44

11th year: principal = 78,227.44 + 5000 = $83,227.44

Interest capitalized (83,227.44 * 0.08) = 6,658.20

Amount (83,227.44 + 6,658.20) = $89,885.64

12th year: principal = 89,885.64 + 5000 = $94,885.64

Interest capitalized (94,885.64 * 0.08) = 7,590.85

Amount (94,885.64 + 7,590.85) = $102,476.49

13th year: principal = 102,476.49 + 5000 = $107,476.49

Interest capitalized (107,476.49 * 0.08) = 8,598.12

Amount (107,476.49 + 8,598.12) = $116,074.61

14th year: principal = 116,074.61 + 5000 = $121,074.61

Interest capitalized (121,074.61 * 0.08) = 9,685.97

Amount (121,074.61 + 9,685.97) = $130,760.58

15th year: principal = 130,760.58 + 5000 = $135,760.58

Interest capitalized (135,760.58 * 0.08) = 10,860.85

Amount (135,760.58 + 10,860.85) = $146,621.43

16th year: principal = 146,621.43 + 5000 = $151,621.43

Interest capitalized (151,621.43 * 0.08) = 12,129.71

Amount (151,621.43 + 12,129.71) = $163,751.14

17th year: principal = 163,751.14 + 5000 = $168,751.14

Interest capitalized (168,751.14 * 0.08) = 13,500.09

Amount (168,751.14 + 13,500.09) = $182,251.23

18th year: principal = 182,251.23 + 5000 = $187,251.23

Interest capitalized (187,251.23 * 0.08) = 14,980.10

Amount (187,251.23 + 14,980.10) = $202,231.33

19th year: principal = 202,231.33 + 5000 = $207,231.33

Interest capitalized (207,231.33 * 0.08) = 16,578.51

Amount (207,231.33 + 16,578.51) = $223,809.84

20th year: principal = 223,809.84 + 5000 = $228,809.84

Interest capitalized (228,809.84 * 0.08) = 18,304.79

Amount (228,809.84 + 18,304.79) = $247,114.63

21st year: principal = 247,114.63 + 5000 = $252,114.63

Interest capitalized (252,114.63 * 0.08) = 20,169.17

Amount (252,114.63 + 20,169.17) = $272,283.8

22nd year: principal = 272,283.8 + 5000 = $277,283.8

Interest capitalized (277,283.8 * 0.08) = 22,182.70

Amount (277,283.8 + 22,182.70) = $299,466.5

23rd year: principal = 299,466.5 + 5000 = $304,466.5

Interest capitalized (304,466.5 * 0.08) = 24,357.32

Amount (304,466.5 + 24,357.32) = $328,823.82

24th year: principal = 328,823.82 + 5000 = $333,823.82

Interest capitalized (333,823.82 * 0.08) = 26,705.91

Amount (333,823.82 + 26,705.91) = $360,529.73

25th year: principal = 360,529.73 + 5000 = $365,529.73

Interest capitalized (365,529.73 * 0.08) = 29,242.38

Amount (365,529.73 + 29,242.38) = $394,772.11

asdasdsad

step-by-step explanation:

step-by-step explanation:

i found the life tables for the year 2012. 

life table of males at age 30. probability of dying between ages x and x+1

total population:  

29–30 . . . . . . . . . . . . 0.001030

30–31 . . . . . . . . . . . . 0.001061

males:  

29–30 . . . . . . . . . . . . 0.001420

30–31 . . . . . . . . . . . . 0.001448

white population

29–30 . . . . . . . . . . . . 0.001005

30–31 . . . . . . . . . . . . 0.001037

white males

29–30 . . . . . . . . . . . . 0.001372

30–31 . . . . . . . . . . . . 0.001399

non hispanic white population

29–30 . . . . . . . . . . . . 0.001083

30–31 . . . . . . . . . . . . 0.001116

non hispanic white males

29–30 . . . . . . . . . . . . 0.001477

30–31 . . . . . . . . . . . . 0.001503

jacob, non hispanic white male. 30 years old.

probability that jacob lives to be 30 years old. 

since the given probabilities are probabilities of dying, i think we simply subtract it from 1 to get the probability of living. we will use the probability of non hispanic white male.

                                          probability of living to be 30 y.o.

29 - 30 : 1 - 0.001477 = 0.998523

30 - 31 : 1 - 0.001503 = 0.998497