Your mom asked your opinion if she will be joining the cooperative in her office. She wants to know the amount of money she will be receiving after 6 months and wanted to buy something in December. The cooperative wants her to contribute Pl,000 per month beginning in June 2020 which will earn 3% compounded monthly. How much will be the future value of your mom's contribution at the end of December 2020?
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- She wants to know the amount of money she will be receiving after 6 months What I Can Do Read and analyze the situation below then answers the question gve. Your mom asked your opinion if she will be joining the cooperative in her office. and wanted to buy something in December. The cooperative wants her to contribute P1,000 per month beginning in June 2020 which will earn 3% compounded monthly. How much will be the future value of your mom's contribution at the end of December 2020? Tasks: Tou need to prepare a report showing a cash flow diagram on the total amount Of money your mother will earn at the end of December. Teport, write a conclusion stating your opinion to help your mom to decide. At the end of your Cash Flow Diagram onclusion:Grandparents plan to open an account on their grandchild's birthday and contribute each month until she goes to college. How much must they contribute at the beginning of each month in an investment that pays 5%, compounded monthly, if they want the balance to be $200,000 at the end of 18 years? Solve the problem. (Round your answer to the nearest cent.)How do I solve this problem: Suze Orman wants to pay $1500 semiannually to her granddaughter for 10 years for helping her around the house. If Suze can invest money at 6% compounded quarterly, how much must she invest today to meet this goal?
- An is considering to take out a loan of $10,000 to fund this promotion service. Option 1: Ella needs to make daily payment of $67.2 from 1 January 2024 to 31 May 2024 (inclusive). (Assume that there are 365 days in a year.). Find the implied effective annual rate charged by the bank? use excel Which one is better?Mary would like to save $10,000 at the end of 5 years for a future down payment on a car. a. How much should she deposit at the end of each month in a savings account that pays 1.2%/a, compounded monthly, to meet her goal? b. If you currently have a part-time job, consider your hourly wage. If you do not have a job, use the minimum hourly wage in your jurisdiction. How many hours each month would you have to work, just to make those payments? Write a brief reflection on the advantages and disadvantages to long-term saving for a purchase, compared to borrowing a large sum of money and paying it off over time. Note that interest rates for savings accounts are always lower than interest rates for borrowing.Imagine you are a financial advisor to Valerie VanNess. Ms. VanNess wants to retire in 25 years. She wants to start saving an annual amount at the end of each year until she retires. She expects to live for another 20 years after she retires. During retirement she wants to withdraw $15,000 at the start of each year from a savings account. She can earn 10% per year on balances in this savings account a. How much will Ms. VanNess have to deposit in the savings account at the end of each year for the next 25 years, if the interest rate is 10%, compounded annually? b. How would the yearly deposits be changed if Ms VanNess expects her cat to live for another five years after her death, and she wants to leave an amount in an account that will be used to pay the cat sitter $5500 at the start of each year, for those five years. (Draw a new timeline, or add to your timeline above).
- Megan Berry, a freshman horticulture major at the University of Minnesota, has some financial questions for the next three years of school and beyond. Round your answers for the following questions to the nearest dollar. Megan's Aunt Karroll told her that she would give Megan $1,400 at the end of each year for the next three years to help with her college expenses. Assuming an annual interest rate of 5 percent, what is the present value of that stream of payments? (Hint: Use Appendix A-4 or the Garman/Forgue companion website.) Round Present Value of Series of Equal Amounts in intermediate calculations to four decimal places. $Susan Orman wants to pay $1,400 semiannually to her granddaughter for 10 years for helping her around the house. If Susan can invest money at 6% compounded quarterly, how much must she invest today to meet this goal? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest cent.)Maria and John decide to shop for furnishings for the new house. They choose items that amount to $5600.00. The store has 2 fixed installment simple interest loan options for purchasing: Option 1: 20% down payment and financing at 5% simple interest per year for 3 years. Option 2: no down payment and financing at 5.25% simple interest for 4 years. Answer each of the following questions separately, showing all your work to reach each answer. Which option will result in smaller finance charge (interest)? What will that finance charge/interest be? Which option will result in the smaller monthly payment on this fixed installment loan? What will that monthly payment be? They decide to defer any purchases and invest a $5600 bonus that Maria will be getting from work in a savings account. The interest rate is 1.8% compounded every month. How much interest will they earn in 4 years? They decide to defer any purchases and loan the $5600 bonus to a needy relative at 5%…
- Susanna wants to purchase a house costing $203,346. She plans to put $49,498 toward a down payment and finance the rest at 3.2% payable monthly for 30 years. If she stays with this payment schedule for the entire 30 years, how much will she actually pay for the house including down payment and interest? *PLEASE GIVE BOLD AND CLEAR ANSWER, THANK YOU!*Your best friend Mary is in discussion with you about saving for her retirement. You are to advise her on how much she should deposit annually to meet her retirement needs. Assume that she will deposit a fixed annual amount for the next 20 years into a retirement savings account, starting one year from now. Mary has a daughter who will be attending college and plans to make 5 withdrawals (starting one year after making her final deposit into the retirement account) of $35,000 each to pay for her annual tuition for the following 5 years. Commercial Banks will be paying 6 percent on such retirement accounts for the next 25 years. Kindly advise Mary on how much she should place in the account annually to cover her retirement needs.Solve the following problems. Show your solutions on a separate sheet of paper. 1. Your father is contemplating on joining the school cooperative and agrees to contribute monthly an amount of P4 000 for 6 months starting June 2019. According to the cooperative officials, his contribution shall earn 4% compounded monthly. Should your father join the school cooperative? 2. Your mother is being offered a variable life insurance (a permanent life insurance with an investment option) which requires her to pay an annual premium of P39 790 for 5 years. Assuming this fund allocation will earn 16% interest compounded quarterly, how much earnings would your mother get if she pursues this investment plan?