If one year of college currently costs $25,000, how much will it cost Grand Rapids, Michigan's resident Michelle Spindle to pay for one year of schooling for newborn daughter, Melissa, 18 years from now, assuming a 5 percent annual rate of inflation? Use Appendix A-1 or the Garman/Forgue companion website. Round your answer to the nearest dollar. Round Future Value of a Single Amount in intermediate calculations to four decimal places.
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- Assume the total cost of a college education will be $300,000 when your child enters college in 18 years. You presently have $60,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual rate of interest jpeg EA9F9D41-D35...jpeg 8A1B4474-4751..jpeg 8A1B4474-4751..jpegAssume the total cost of a college education will be $224,140 when your child enters college in 12 years. You presently have $57,945 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education? Answer as a decimal fraction to four decimal places - ie, if you get 8.23%, enter the answer as 0.08 Next ▸Assume the total cost of a college education will be $325,000 when your child enters college in 18 years. You presently have $85,000 to Invest. What annual rate of interest must you earn on your Investment to cover the cost of your child's college education? Note: Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. Annual rate 7.74 %
- Suppose you borrow money from your parents for college tuition on January 1, 2019. Your parents require four annual payments of $30,000 each, with the first payment due on January 1, 2023. They are charging you 5% annual interest. What is the cost of college tuition? (Use spreadsheet software or a financial calculator to calculate your answer. Round intermediary calculations to two decimal places and round your final answer to the nearest dollar.) Question content area bottom Part 1 A$91,894 B.$111,697 C.$120,000 D.$88,475A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $16,800 each, with the first payment occurring today, your child’s 12th birthday. Beginning on your child’s 18th birthday, the plan will provide $35,000 per year for four years. What return is this investment offering? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)Assume the total cost of a college education will be $300,000 when your child enters college in 18 years. You presently have $57,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual rate of interest %
- Instruction: Please calculate the correct amount and show your computation. 1. The future value of P2,500 received today and deposited at 6 percent for five years is 2. The present value of P50,000 to be received 10 years from now, assuming an opportunity cost of 9 percent is, 3. If you expect to retire in 30 years, are currently comfortable living on P 100,000 per year and expect inflation to average 3 percent over the next 30 years, what amount of annual income will you need to live at the same comfort level in 30 years? 4. The future value of a P20,000 annuity due deposited at 8 percent compounded annually for each of the next 10 years is 5. The future value of an ordinary annuity of P1,750 each year for 10 years, deposited at 5 percent is 6. How much is the present value of your investment if you invest P2,000 semi-annually at the start of every six months for a period of 4 years with interest rate of 21 percent per annum? 7. Calculate the present value of your deposits in a…Check my work Carrie Tune will receive $27750 for the next 5 years as a payment for a new song she has written. Use Apnendix D for an approximate answer, but calculate your final answer using the formula and financial caiculator methods o. What is the present value of these payments if the discount rate is 7 percent? (Do not round intermediate calculations. Round your final onswer to 2 decimal places.) 17. Present value b. Should she be willing to sell out her future rights now for $161.000? O Yes O NoFind the future value, using the future value formula and a calculator. (Round your answer to the nearest cent.) $818 at 5.5% compounded quarterly for 7 years $ 1199.00 Need Help? Read It Watch It Talk to a Tutor
- A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $14,000 each, with the first payment occurring today, your child's 12th birthday. Beginning on your child's 18th birthday, the plan will provide $25,000 per year for four years What retum is this investment offering? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g, 32.16.) Return 0% References eBook & Resources Worksheet Section: 4.3 Compounding Periods Difficulty: 3 Challenge Section: 4.4A financial planning service offers a college savings program. The plan calls for you to make six annual payments of $14,000 each, with the first payment occurring today, your child's 12th birthday. Beginning on your child's 18th birthday, the plan will provide $25,000 per year for four years What retum is this investment offering? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g, 32.16.) Return 0%In order to make a $6500 purchase in 14 years, you decide to invest some money in an account that pays 4.7% interest per year, compounded annually. How much should you invest now to have enough for your purchase? Round to 2 decimal places. Do NOT use the dollar sign in the answer box. You should invest $ Blank 1. Calculate the answer by read surrounding text.