Q: John wants to have 30,000 in 10 years from investing with a 4% interest rate compounded quarterly.…
A: Present Value is the current value of all the cash flows which is to be received in the future which…
Q: You have just deposited $5,000 into an account that promises to pay you an annual interest rate of…
A: Amount of deposit=$5000Interest rate=5.3%Number of years=10
Q: How much does Tim need to save each year for 9 years as a regular savings payment if he wants to…
A: Formulas to be used In excel PMT(rate, nper, pv, [fv], [type]) Rate The interest rate for the…
Q: Roger decides to start an investment account by depositing $5,000 today. In one year he will invest…
A: Initial deposit (Year 0) = $5,000 Year 1 Deposit = $500 Year 2 Deposit = $600 Year 3 Deposit = $700…
Q: Chester hopes to earn $1200 in interest in 2.5years time from $60,000 that he has available to…
A: The annual interest rate that is charged by the lenders or at which the investors earn additional…
Q: You deposit $100 each month into an account earning 6% interest compounded monthly. a) How much…
A: Future value refers to the amount worth in future time which is deposited today by an investor at…
Q: You have $300 to invest. If you put the money into an account earning 13% Interest compounded…
A: Following details are given in the question : Present value = 300 Time period = 8 years Interest…
Q: Barry plans to invest $350 a month for the next 30 years, how much money will he have in his account…
A: Given data, monthly payment = $350 number of years = 30 years annual rate = 12% To calculate the…
Q: Muaz will need $130,000 in 4 years to buy a piece of property. He plans to save money by making…
A:
Q: James wants to buy a car in 5 years. The car is expected to cost $30,000 at that time. How much…
A: The amount required to invest today can be calculated as the present value of lump sum
Q: could you go step by step on how to solve?
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: Stephen claims that he invested $6,000 six years ago and that this investment is worth $28,700…
A:
Q: You have a client who wants to buy a house in 2 years. He needs $40,000 for a down payment. If he…
A: in this problem we have to calculate quarterly interest rate and from that we can get present value.
Q: Mike Gordon wishes to have $80,000 in five years. If he can earn annual interest of 2%, how much…
A: Amount need to invest today = Amount required at the end of 5th year x PVIF (2%, 5 years)
Q: Chris has saved $500,000 for retirement. If he set up a payout annuity for 30 years in an account…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: Ms. Perez wants to invest in a savings account with interest rate of 9% per year. She decided to…
A: Present value of annuity is the current value of the future payments that are calculated using the…
Q: Frank invested $10,000 at 15% simple interest. How much interest will he earn each year?
A: Under simple interest, interest is calculated on the principal amount only; that is, interest is not…
Q: Stuart Daniels estimates that he will need $26,000 to set up a small business in 7 years. How much…
A: The present value of a cash flow is the current worth of a cash flow at a certain rate of interest…
Q: Colin thinks he can reasonably expect to buy a house in five years. He would like to have…
A: Calculation of investment (P):Answer:The amount of investment that Colin has to invest annually is…
Q: You have just deposited $9,500 into an account that promises to pay you an annual interest rate of…
A: GOAL (FV) 27940 INTEREST RATE 6.20% YEARS 8+12=20 PMT 0 PV 9500
Q: Joe wants to have $10,000 in 10 years after investing in an account that earns 3.6% compounded…
A: Future value required (FV) = $ 10,000 Annual interest rate = 3.6% Monthly interest rate (r) =…
Q: How much does Steve need to invest today, If he wants to have $50,000 in 15 years? He opens an…
A: Present Value = Future Value / (1+r)^n Where, r = rate of return per period i.e. 7.8%/12 = 0.65% or…
Q: If a person spends $10 a week on coffee (assume $500 a year), what would be the future value of that…
A: In the given question we require to compute the future value.
Q: Lloyd would like to save $4,300 at the end of every year for the next 3.5 years in a savings account…
A: Interest earned: If the cash basis of accounting is being used, then the amount of interest earned…
Q: amie is saving ₱10,000 at the end of each month. How soon can he retire if he wants to have a…
A: Monthly saving = P 10,000 Future value (FV) = P 250,000 Annual interest rate = 4.36% Monthly…
Q: Mike Gordon wishes to have $80,000 in five years. If he can earn annual interest of 2%, how much…
A:
Q: Steven plans to contribute $300 to his "super unrealistically high" savings account at the end of…
A: Here,
Q: You have €42,180.53 in a brokerage account, and you plan to deposit an additional €5,000 at the end…
A: Working note:
Q: Mark deposits $40,000 now into an account which will earn interest at a rate of 8% per year, how…
A: Present value of annuity concept is used to calculate the annual withdrawal amount.
Q: Tak wants to save $10 000 for a vacation. He deposits $150 at the end of each month for 4.5 years in…
A: Solved using Financial Calculator PMT = +/- 150 N = 4.5 years *12 months = 54 I/Y = 8.7/12 = 0.725…
Q: Stuart Daniels estimates that he will need $26,000 to set up a small business in 7 years. (a) How…
A: The concept of the time value of money states that money earns interest and hence, money held today…
Q: You would like to have $1,000,000 when you retire in 40 years. How much should you invest each…
A: Given:
Q: Matt Christopher is a 30-year-old mechanical engineer, and his salary next year will be $80,000.…
A: Computation of the amount that will be saved by Matt Christopher at the age of 60 years is shown:
Q: Jun has decided to save money roughly P25 per week. Suppose he makes weekly deposits of this money…
A: Compounding is also termed as an interest on interest which means that a company calculates interest…
Q: If your money is compounded at 12% interest monthly, you have to save _____ monthly to accumulate…
A: Here, Interest Rate (r) is 12% Required Accumulated Amount (FV) is Php 10,000 Time Period (n) is 2…
Q: Kelvin has 45 years left until retirement and wants to retire with RM4 million. Assuming that his…
A: First we need to calculate he monthly payment to accumulate the amount required for retirement .…
Q: Hilary just invested $2,000 in a security that will earn 6% interest each year. How much will she…
A: Given: Present value (PV) = $2000 Rate of interest (r) = 6% = 0.06 Time period (n) = 12 years
Q: Morgan Madison needs $339,200 in 10 years. How much must he invest at the end of each year, at 9%…
A: In the given question we need to calculate how much Morgan madison needs to invest at the end of…
Q: Gary has decided to save RM150 a month for 4 years. How much will be the balance in the account if…
A: In compound interest money grow with time as there is interest on the interest.
Q: You have just retired with savings of $5 million. If you expect to live for 49 years and to earn 12%…
A: Present value = Annuity * PVAF ( Rate, Years )
Q: Sam invests $ 3500 into an account earning 9% interest compounded quarterly. How long will it take…
A: We need to use NPER formula in excel to solve this problem.
Q: Hannah wants to have $ 7500 to help pay for a new deck in 13 years. If she wants to put her money…
A: The amount required to invest today can be calculated with the help of future value function
Q: Alexander invests $5,000 at an interest rate of 1.4% per quarter. How much is the investment worth…
A: Future value is the value of the current assets or some amount that is invested today and amount…
Q: Tony Bautista needs $25,000 in 4 years. What amount must he invest today if his investment earns 12%…
A: The common formula used to calculate is Future value = Present value (1 +r )^n
Q: You deposit $1000 each year into an account earning 8% compound annually. A) How much will you have…
A: ordinary annuity-in which payment is end of each period. annuity due :-payment is made at beginning…
Tony wants to have $10,000 in 10 years after investing in an account that earns 4.6% compounded monthly. How much does he need to invest?
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- Benjamin wants to have $12,000 in 15 years after investing in an account that earns 4.2% compounded quarterly. How much should he invest?Joe wants to have $10,000 in 10 years after investing in an account that earns 3.6% compounded monthly. How much does he need to invest?Sarah wants to have $20,000 in nine years. If she puts the money in an account which pays 4% compounded monthly, how much does she need to invest?
- Suppose Chris starts saving in 3 years from today. He will save $20,000 each year for 6 years (until the end of year 8). Then he leaves that money in the same account until the end of year 10. How much will he have saved at the end of year 10 if he earns 4.3% interest.Faisal has $14,000 in his savings account and can save an additional $4200 per year. If interest rates are 12%, how long will it take his savings to grow to $49,000?Colin thinks he can reasonably expect to buy a house in five years. He would like to have accumulated a $15,000 down payment (or a 20% down payment) on a $75,000 home. If Colin thinks he can earn 4% per year on his investments, how much must he invest annually (rounded to the nearest whole dollar) to reach his goal?
- John has an investment opportunity that promises to pay him $16,000 in four years. He could earn a 6% annual return investing his money elsewhere.Suppose the opportunity requires John to invest $13,200 today. What is the interest rate John would earn on this investment?John Jamison wants to accumulate $60,000 for a down payment on a small business. He will invest $30,000 today in a bank account paying 8% interest compounded annually. Approximately how long will it take John to reach his goal?Raya is saving for a new car. He needs to have OMR 21000 for the car in three years. How much will he have to invest today in an account paying 8 percent annually to achieve his target
- Josh has an investment account with $50,000. If Josh earns 6% per year and contributes $400 each month, how much will his investments be worth in 10 years?1. In order to save $57,000 in five years, John will start saving money next month. He already has $10,000 in his account. The account is paying him 0.1 percent interest per month. In order to have $57,000 in five years, how much will he have to deposit into that account each month? (Show work)Rodney would like to save $57,000 over the next 15 years. How much must he deposit at the beginning of each month into his savings account if the account earns j12-4.8%? Your Answer: Answer