Tim wants to have 257,897 dollars in his investment account in 7 years from today. He expects to earn a return of 9.57 percent per year in that account. Tim plans to make regular, equal savings contributions of X per year to his account for 7 years, with the first of these regular, equal savings contributions made later today. In addition to and separate from the regular contributions of X per year, Tim expects to make a special contribution to his account of 10,700 dollars in 5 years from today. What is X, the amount of Tim’s regular, equal savings contribution?
Shelby has 13,100 dollars saved for retirement and plans to make annual contributions of 14,900 dollars to her retirement account. Her first annual contribution to his retirement account is expected in 1 year. Shelby expects to earn 15.19 percent per year in her retirement account. How many contributions of 14,900 dollars does Shelby need to make in order to have 205,807 dollars?
Lina has 37,400 dollars in her retirement account. In addition, she plans to save 7,000 dollars per quarter in her account for 4 years. Her first contribution to her retirement account is expected later today. What quarterly expected return does Lina need to earn to have 264,727 in 4 years? Answer as an annual rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.