Suppose someone wants to accumulate $40,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $200 per month into an account with an APR of 8%.
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- * Suppose someone wants to accumulate $65,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $120 per month into an account with an APR of 5%. Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) OA. No, because the amount that will be in the college fund, $ B. Yes, because the amount that will be in the college fund, $ is less than the goal of $65,000. " is more than the goal of $65,000. "K Suppose someone wants to accumulate $65,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $55 per month into an account with an APR of 7%. ... Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) O A. No, because the amount that will be in the college fund, $ is less than the goal of $65,000. OB. Yes, because the amount that will be in the college fund, $ is more than the goal of $65,000. 3Mitchell Investments has offered you the following investment opportunity: $7,000 at the end of each year for the first 7 years, plus $6,000 at the end of each year from years 8 through 14, plus $3,000 at the end of each year from years 15 through 21. Use Table II and Table IV or a financial calculator to answer the questions. Round your answers to the nearest dollar. How much would you be willing to pay for this investment if you required a 8 percent rate of return?$ If the payments were received at the beginning of each year, what would you be willing to pay for this investment?$
- Aronscript Suppose someone wants to accumulate $50,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $140 per month into an account with an APR of 6% Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed) is less than the goal of $50,000. A. No, because the amount that will be in the college fund, $ OB. Yes, because the amount that will be in the college fund, S is more than the goal of $50,000Suppose someone wants to accumulate $55,000 for a college fund over the next 15 years. Determine whether the following investment plans will allow the person to reach the goal. Assume the compounding and payment periods are the same. The person deposits $60 per month into an account with an APR of 7%. Will the person meet the goal? Select the correct choice below and fill in the answer box to complete your choice. A. No, because the amount that will be in the college fund, $enter your response here, is less than the goal of $55,000. B. Yes, because the amount that will be in the college fund, $enter your response here, is more than the goal of $55,000.For TVM calculator: Write each known variable’s value as it appears in the calculator and use a question mark for the missing variable. Then, in the space provided write the missing variable’s value, as it appears in the calculator. Finally, write your final answer in context, with units, as a complete sentence. Herman is looking to invest $5,000 in an account that earns 3.7% annual interest compounded semi-annually. If Herman plans to regularly deposit semi-annual payments of $1,575 into the account, how much is the account worth after 30 years? N=60 I= 3.7 PV=5000 PMT= 1575 FV= ? P/Y=2 C/Y=2 Missing Variable Value __________________ Context Sentence:
- Calculate the time necessary to achieve an investment goal. Give your answer to the nearest day. Use a 365-day year. (First enter the total number of full years, then give the remaining days.) $1,000 at 7% simple interest; deposit $650 years, days Need Help? Talk to a Tutor Read ItYour financial advisor from Bluerock recommends you to invest in one of the plan. You want to compare and verify which of the following is the best investment option. Investment Plan A: Deposit $125,000 at the beginning and obtain $175,318.97 after 5 years.Investment Plan B: Deposit $243,000 at the beginning and obtain $319,771.42 after 7 years.Investment Plan C: Deposit $314,000 at the beginning and obtain $530,496.39 after 9 years. 1. Compute interest rate for all 3 plans. Which investment plan provides you the highest rate? 2. Your advisor updated the investment plan information yesterday. While the interest rate did not change for all 3 plans, future values of each investment are 210382.76, 415702.85, 742694.95, respectively. What would be the investment period for each plan? 3. Your advisor thinks it would be a good investment if you make an investment portfolio using all 3 investment plans suggested. He recommends investing in all 3 plans at year 0 and reinvest the money to…Sam Hart decides to invest $70,000 in a fund that will earn 6% annual interest, compounded semiannually. How much will his investment be worth in three years? Draw a timeline to illustrate the problem. What is the future value of your investment? (Use the present value and future value tables, a financial calculator, a spreadsheet or the formula method for your calculations. If using present and future value tables or the formula method, use factor amounts rounded to five decimal places, X.XXXXX. Round your final answer to the nearest cent, $X.XX.)
- Hal wants to establish a savings fund from which a community organization could draw $890 a year for 20 years. If the account earns 2.5 percent annual interest, what amount does he have to deposit now to achieve this goal? Use Exhibit 1B-4. (Round time value factors to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Amount to be deposited $Use the savings plan formula to answer the following question. Your goal is to create a college fund for your child. Suppose you find a fund that offers an APR of 7%. How much should you deposit monthly to accumulate $90,000 in 15 years? ... You should invest $ each month. (Do not round until the final answer. Then round to two decimal places as needed.) ******A person wants to invest $12,000 for 2 years and is considering two different investments The first investment, a money market fund, pays a guaranteed 6 4% interest compounded daily. The second investment, a treasury note, pays 6.6% annual interest Which investment pays the most interest over the 2-year period? Select the correct choice below and, if necessary, fill in any answer box(es) to complete your choice (Do not round until the final answer. Then round to the nearest cent as needed) O A. Both the market fund and the treasury note produce the same interest with $ O B. The market fund is the better investment, since the market fund produces S in interest, and the treasury note pays S in interest in interest, and the treasury note pays $ in interest O C. The treasury note is the better investment, since the market fund produces $ Clear all Check answ Help me solve this View an example Get more help - 12:34 2/27/2 delete do %24 & backspace 3 7. 8.