If the fund earns 10%, how much will be paid to Juan on his 30th birthday?
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- Sam wants to donate $1,000,000 to establish a fund to provide an annual scholarship in perpetuity. The fund will earn an interest rate of j4-3.81% p.a. effective and the first scholarship will be first awarded 2.5 years after the date of the donation. (b) Assume that the fund's earnings rate rate has changed from 4-3.81% p.a. to j4-3.56% p.a. one year before the first scholarship payment. How much does Sam need to add to the fund at that time (one year before the first scholarship payment) to ensure that scholarship amount will be unchanged (rounded to two decimal places)? Question 9Answer a. 78309.64 b. 74276.05 C. 71226.96 d. 75395.75(b) Daniel deposits $5,000 into a fund at the end of each month in the coming five years. The fund earns 6% p.a. compounded monthly. (i) Calculate the amount in the fund at the end of the fifth year. (ii) Starting from the sixth year, $X is deducted from the fund for donation to charity at the end of each month continuing forever. Find X.2. Juan Reyes was born on January 1, 1988. On Jan. 1 1989, his father starts a fund that is intended to help him in two ways. The fund is to be established by a payment of 2,000 on Jan1, 1989 and each Jan. 1 thereafter up to Jan 1, 1998. One purpose is to provide his college education; it is provided that 3,000 shall be withdrawn for this purpose for each year for 5 year starting at the boy's 18th birthday. The remainder of the fund is accumulated until Juan is 30 yrs. old and is to be paid to him to help him purchase a house. If the fund earns 10%, how much will be paid to Juan on his 30th birthday? DRAW THE CASH FLOW DIAGRAM
- Last year Nate opened a savings account with a deposit of $17,250. The account was in the name of Nate and Derrick, joint tenancy with the right of survivorship. Derrick did not contribute to the account, but this year he withdrew $5,750. Required: a-1. Has Nate made a complete gift? a-2. What is the amount of the complete gift, if any, and when was the gift made? Complete this question by entering your answers in the tabs below. Req A1 Req A2 What is the amount of the complete gift, if any, and when was the gift made? Amount of complete gift At the time of withdrawalKara Delaney received a $6,000 gift for graduation from a relative. If she deposits the entire amount in an account paying 2 percent, what will be the value of this gift in 10 years? (Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, Exhibit 1-D)Person X donated $ 50 000 to a foundation. This donation is distributed to the needy at the end of each year from the donation fund with an effective annual interest rate of 5%. It is distributed as 2 000 USD at the end of each year for the first 10 years and 3 000 USD in the following times. Payments continue until the fund is reset, but less than 3 000 USD remained in the fund in the last year. Accordingly, how many years have passed until the fund is reset and how much is the remaining money in the fund in the last year? Thanks
- It is now January 1, 2015. Tom and Jerry are cousins who were both born onJanuary 1, 1985. Both turned 30 today. Their grandfather gave Tom $4,000 onhis 25th birthday, January 1, 2010, putting the funds into a trust that will be paidto Tom on his 70th birthday, January 1, 2055. Each year since 2010, thegrandfather put an additional $4,000 in the account on Tom's birthday, and thegrandfather's own trustee will continue making the $4,000 payments untilJanuary 1, 2055, when a 46th and final $4,000 contribution will be made onTom's 70th birthday. The grandfather want Tom to work, not be a "trust fundbaby," but he also wants to insure that Tom is well provided for in his old age. The grandfather has until now has been disappointed with Jerry, hence has notgiven him anything, but they recently reconciled, and the grandfather has decidedto make an equivalent provision for Jerry. He will make the first payment to atrust for Jerry today, and he has instructed his trustee to make additional…Emma wants to donate $1,000,000 to establish a fund to provide an annual scholarship in perpetuity. The fund will earn an interest rate of j4=5% p.a. effective and the first scholarship will be first awarded 2.5 years after the date of the donation. (b) Assume that the fund's earnings rate rate has changed from j4=5% to j4=4.75% one year before the first scholarship payment. How much does Emma need to add to the fund at that time (one year before the first scholarship payment) to ensure that scholarship amount will be unchanged (rounded to two decimal places)?d. On the day of his son's birth, a father decided to establish afund for the boy's college education. The father wants theson to be able to withdraw $4000 from the fund on his 18thbirthday, again on his 19th birthday, again on his 20thbirthday, and again on his 21st birthday. If the fund earnsinterest at 9% per year, compounded quarterly, how muchshould the father deposit at the end of each year, up throughthe 17th year? include a non-excel cashflow
- On the day his son was born, a father decided to establish a fund for his son's college education. The father wants the son to be able to withdraw 200,000 from the fund on his 18th birthday, again on his 19th birthday, again on his 20th birthday, and again on his 21st birthday. If the fund earns interest at 9% per year, compounded annually, how much should the father deposit at the end of each year, up through the 17th year? Draw cash flow diagramRaj deposits 25 into a fund at the end of each month for 2 years. The total amount of interest earned by the fund during the last month of year 2 is 5. Calculate the accumulated amount in Raj's account at the end of year 2. (A) $ 670 (B) $ 655 (C) $ 650 (D) $ 660 (E) $ 664Mike wants to donate $5,000,000 to establish a fund to provide an annual scholarship in perpetuity. The fund will earn an interest rate of 4.47% p.a. compounded half-yearly (2=4.47% p.a.) and the first scholarship will be first awarded 3.5 years after the date of the donation. (b) Assume that two years after the donation, Mike needs to withdraw $1,000,000 from the fund and use the remaining amount to provide an annual scholarship in perpetuity. The time of the first scholarship will be unchanged (3.5 years after the date of the donation). What is the new annual scholarship amount (rounded to two decimal places)? a. 101959.37 O b. 206197.54 O c. 203631.53 O d. 207511.86
