Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 7% annual interest rate, compounded monthly, in order to have $30,000 in the fund at the end of 15 years?
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Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at
annual interest rate, compounded
in order to have
in the fund at the end of
years?
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- Your grandparents would like to establish a trust fund that will pay you and your heirs $185,000 per year forever with the first payment one year from today. If the trust fund earns an annual return of 3.6 percent, how much must your grandparents deposit today? Multiple Choice: $4,743,589.74 $4,282,407.41 $5,138,888.89 $4,496,527.78 $5,873,015.87Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 7% annual interest rate, compounded monthly, in order to have $40,000 in the fund at the end of 15 years?Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 10% annual interest rate, compounded quarterly, in order to have $50,000 in the fund at the end of 15 years? They should deposit $
- Jessie is thinking of establishing a fund for his daughter’s college education. He wants his daughter to be able to withdraw P60,000from the fund on her 18th birthday, again on her 19th birthday, again on her 20th birthday, up to her 23rd birthday. If the fund earns interest at 12% per year compounded annually, how much should Jessie deposit at the end of each year, fromthe time his daughter reaches 5 years old up to her 17th birthday?Your grandparents would like to establish a trust fund that will pay you and your heirs $120,000 per year forever withthe first payment one year from today. If the trust fund earns an annual return of 2.3 percent, how much must yourgrandparents deposit today?Multiple Choicea. $5.217.391.30B. $4,347,826.09 C. $4,816,053.51D. $4,565,217.39E. $5.962.732.92Parvati wants to donate enough money to Camosun College to fund an ongoing annual bursary of $2,750 to a deserving finance student. How much must she donate today in order for the first payment to to be given out in one year? Assume an interest rate of j2=4%.
- Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they deposit at a 10% annual interest rate, compounded quarterly, in order to have $30,000 in the fund at the end of 10 years? Question content area bottom Part 1 They should deposit $enter your response here. (Round up to the nearest cent.)Will and Jane Sparks are establishing a college fund for their 1-year-old daughter, Jennifer. They want to save enough now to pay college tuition at the time she enters college (17 years from now). If her tuition is projected to be $35,000 for a two-year degree, what annual sinking fund payment should they establish if the annual interest is 4%? E Click the icon to view the table. The annual sinking fund payment is $ (Round to the nearest cent as needed.)Mr. and Mrs. Megabucks would like to set up a college fund for their grandson. They want him to be able to withdraw $1,750 each month for the two years he will be in college. Their grandson is currently celebrating his second birthday. His first college withdrawal will be on his 19th birthday. The college fund will earn j12=2.4%. How much must they deposit today into the college fund? Your Answer: Answer
- Your grandparents would like to establish a trust fund that will pay you and your heirs $205,000 per year forever with the first payment 12 years from today. If the trust fund earns an annual return of 4 percent, how much must your grandparents deposit today?Palma wants to establish a fund for her granddaughter's college education. What lump sum must she deposit in an account that pays an annual interest rate of 6%, compounded monthly, if she wants to have $10,000 in 10 years?Your grandparents would like to establish a trust fund that would pay annual payments to you and your heirs of $100,000 a year forever. How much do your parents need to deposit into this trust fund today to achieve their goal if the fund can earn 6% interest?