A parent on the day the child is born wishes to determine what lump sum would have to be paid into an account annually, in order to withdraw Php 20,000 each on the child’s 18th, 19th, 20th and 21st birthdays. Use 4% Show complete solution.

A couple is planning to finance its three-year-old son's university education. Money can be deposited at 10% compounded quarterly. What quarterly deposit must be made from the son's 3rd birthday to his 18th birthday to provide $8000 on each birthday from the 18th to the 21st? (Note that the first deposit is made three months after the 3rd birthday and the last deposit is made on the date of the first withdrawal.) Answer:

Parents wish to have S 100000 available for a child's education. If the child is now 4 years old, how much money must be set aside at 8% compounded semiannually to meet their financial goal when the child is 18? Part 1 The amount that should be set aside is S

A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $41,000 when the child reaches the age of 18? Assume the money earns 7% interest, compounded quarterly. (Round your answer to two decimal places.)$ ??

Grandma Patt has decided to open a savings account for her newborn granddaughter.  The savings account pays 3% interest.  If Grandma Patt wants there to be $10,000 in the account in 18 years, how much should she deposit today?  Assume no other deposits or withdrawals. a) $5,873.95 b) $17,024.33 c) $8,362.17 d) $10,609.23

A couple plans to save for their child’s college education. What principal must be deposited by the parents when their child is born in order to have$80,000 when the child reaches the age of 18? Assume the money earns 8% interest, compounded quarterly.

Suppose you have estimated that you will need $2,500 per month in your retirement to meet your expenses and live comfortably, and that you have found or chosen a fund (account) which pays monthly interest 4% APR . What principal, or balance, will your account need to maintain in order to be able to pay you this amount each month? Round/take your answer to the nearest cent.

At the time of her grandsons birth, a grandmother deposits 3000 in an account that pays 6.5% compounded monthly. What will be the value of the account at the child’s 21st birthday, assuming that no other deposits or withdrawals are made during this period