You have $76,000 in your account that you want to grow to triple that amount in 25 years. What annual rate of return is necessary to reach your goal? (Note: Enter your answer is a decimal, not a percentage. For example, enter .0452 instead of 4.52%) Your Answer: Answer
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- Suppose that you are planning to buy a boat in in 28 years [cell B3] for $100,000 [cell B2], and you deposit into your account the amount of $26,000 CAD [cell B1]. (a) What average annually compounding rate of return (as a percentage, correct to 2 decimals) should you earn so you can accumulate the lump sum needed to achieve your goal [cell B5]? Use the RATE function.(Note: You might have to modify the format of cell B5 so that it shows 2 decimals.) (b) What is the correct formula (using 18 characters or less) that should be placed in cell B5?Note: There are to be NO numbers in the function call (apart from a 0 if appropriate), only cell references, or negative cell references where appropriate. In excel pls.You started an investment account 10 years ago with $2100, and it now has grown to $8900. a. What annual rate of return have you earned (you have made no additional contributions to the account)? b. If the investment account earns 11% per year from now on, what will the account's value be ten years from now? a. The annual rate of return is%. (Round to two decimal places.) View an example Get more help - Clear allA3ai Use the present value and future value formulas to solve the following problems. Confirm your answers with your financial calculator. Show both methods of calculation in your answers. When performing your calculations, keep as many decimal places as you can for intermediate answers, but round your final answers to two decimal places. (10 marks total) If you invest $1000 today at 3% annual interest rate, how much money would you have in one year’s time?
- You will deposit $30,000 per year into an account beginning today that pays 13 percent per year. How long (in years) would it take for you want have a total of $1,000,000 at retirement? m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FV Identify variables and use excelYou will deposit $30,000 per year into an account beginning today that pays 13 percent per year. How long (in years) would it take for you want have a total of $1,000,000 at retirement? m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FV Must identify variables and use excelAn example of how to calculate net present value is done using the following. Imagine you have been given an investment opportunity wherein if you invest $1,200 today, you will receive $650 dollars at the end of each year for the next 5 years. You could separately choose to invest your money at 10% interest each year. Should you take the investment opportunity? To find the answer, use the NPV formula:
- A3aii Use the present value and future value formulas to solve the following problems. Confirm your answers with your financial calculator. Show both methods of calculation in your answers. When performing your calculations, keep as many decimal places as you can for intermediate answers, but round your final answers to two decimal places. (10 marks total) If you invest $1000 today at 3% annual interest rate, how much money would you have in 10 years’ time?You are currently investing your money in a bank account which has a nominal annual rate of 7 percent, compounded monthly. How many years will it take for you to double your money? m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FV Identify variables and use excelSuppose an investment will pay $7,000 in 44 years from now. If you can earn 6.15% interest compounded monthly by depositing your money in a bank, how much should you pay for the investment today?Round your answer to two decimal places. For example, if your answer is $345.667 round as 345.67 and if your answer is .05718 or 5.718% round as 5.72. Group of answer choices
- Suppose you invested $5,000 today. What would be the required interest rate to result in you having $20,886.24 at the end of 15 years. (Hint...use the CAGR formula). For your answer round to the nearest whole percentage and use the percentage symbol....e.g., 13% would be the form of a correct answer.You just deposited $9,500 in an investment account and will deposit $5000 more four years from now. What is the built-in functions on a spreadsheet to determine how much will be in the account 11 years from now if the rate of return is 10% per year? The built-in function is =FV (10%, 11,,9500) + FV(10%,7, ,5000) and it displays $You are currently investing your money in a bank account which has a nominal annual rate of 7 percent, compounded monthly. How many years will it take for you to double your money? m Nper (or N) =n*m Rate (or I/Y)=i/m PV PMT FV Must identify variables and use excel