Answered

Looking for answers? Westonci.ca is your go-to Q&A platform, offering quick, trustworthy responses from a community of experts. Discover precise answers to your questions from a wide range of experts on our user-friendly Q&A platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

A small business owner contributes [tex]$2,000 at the end of each quarter to a retirement account that earns 6% compounded quarterly. (a) How long will it be until the account is worth at least $[/tex]150,000? (Round your answer UP to the nearest quarter.)
X quarters
(b) Suppose when the account reaches [tex]$150,000, the business owner Increases the contributions to $[/tex]8,000 at the end of each quarter. What will the total value of the account
be after 15 more years? (Round your answer to the nearest dollar.)
​

Sagot :

Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for visiting Westonci.ca, your go-to source for reliable answers. Come back soon for more expert insights.