Asif received a bonus of $10 000, which he immediately invested in a fund earning 9.25% compounded semi-annually through his Tax Free Savings Account. Five yea later, Asif plans to make the first semi-annual withdrawal of $1000. After how man withdrawals, the fund will be completely depleted?show the work

Q: Brianna invested the profit of his business in an investment fund that was earning 3.75% compounded…

A: Present value refers to an amount that is being invested initially in the investment for a definite…

Q: A house owner decided to renovate his property in 7 years where he will be paying  50,000 for the…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Johan recently received his annual performance bonus from his employer. He has set up an investment…

A: It is a case of two different annuities having different periodic deposits. It requires future value…

Q: Ali is making $1,000 monthly deposits into a fund that pays interest at a rate of 6% compounded…

A: Given: Monthly deposit = $1,000 Interest rate = 6% Years = 10

Q: wealthy man wants to provide annual scholarships to deserving students. The fund will grant P100,000…

A: The present value of money is required to get the amount of scholarship required and must according…

Q: Anton deposits P400,000 today and another P200,000 in 6 years into a fund paying simple interest of…

A: Simple interest is a method of calculating the interest charged on a loan or the interest receivable…

Q: What is the amount of the payments that Tom Brokaw must make at the end of each of 8 years to…

A: Amount required = $70,000 Interest Rate(r) = 8% Years(n) = 8 Let Annual Payments = P

Q: you are to receive $ 16700 from your trust fund in 7.5 years. you negotiate a deal where you can…

A: Future value refers to the value of current asset at some future date affected by interest and…

Q: Glenn wants to have $144,269.90 in 6 years. He plans to make regular savings contributions of…

A: Here,RequiredAmount in 6 years is $144,269.90Yearly Contribution for 6 years is $13,500.00Interest…

Q: Our clients saved $2,500,000 for retirement.  They wish to withdraw $20,000 from the fund each month…

A: Present Value of Ordinary Annuity refers to the concept which gives out the discounted or today's…

Q: Robert wants to deposit $300 into a fund at the beginning of each month. If he can earn 10%…

A: Given information : Monthly deposit = $300 Interest rate = 10% Tenure = 6 years

Q: John already has $55,600 today in his savings account earning 5.5% compounded semiannually. The…

A: Here,

Q: Henry Bogut just received a signing bonus of $1,086,900. His plan is to invest this payment in a…

A: Present value and future value is a concept of time value of money. It is considered as an important…

Q: Steven invested the profit of his business in an investment fund that was earning 3.50% compounded…

A: Present value refers to an amount that is being invested initially in the investment for a definite…

Q: 5. A man decided to sell his farm and to deposit the fund in a bank. After computing the interest,…

A: In this, we have to calculate the present value of annuity today.

Q: Gilbert got a loan of P100,000 from a local lending agency at 13% compounded annually. Their…

A: Here, Loan Amount is P100,000 Interest Rate is 13% Time Period is 5 years Each successive payment is…

Q: A fund is to be donated by a wealthy man to provide annual scholarships to deserving students. The…

A: Annual scholarship for first 5 years = Php. 5,000 Annual scholarship for next 5 years = Php. 8,000…

Q: Paige invested the profit of her business in an investment fund that was earning 3.75% compounded…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: Cody invested $13,000 in a fund earning 6% compounded monthly. He withdraws $800 from the fund at…

A: Annuity refers to periodic payment or receipt of equal amount which is paid or received from a fund…

Q: Angela invested $10, 500 into a fund earning 7.75% compounded monthly. She plans to withdraw $850…

A: Dear student, kindly check the answer in the explanation box below.Explanation:Part 1: Answer:To…

Q: Jaime Bickers invests $4000 at the end of each semiannual period for 8 years. His financial advisor…

A: Calculate the future value as follows:

Q: How much does your client need to contribute to a fund each month for the next 25 years (first…

A: Annuity refers to an amount or stream of equal cash flows (CF) paid or received periodically.…

Q: Mr. Bienvenido Bautista needs a fund of Php1,000,000 to renovate his house. To provide for this, he…

A: Future value required (FV) = Php1,000,000 Interest rate = 12% Monthly interest rate (r) = 12%/12 =…

Q: Elijah has $30,000 in his RRSP account and wants this to accumulate to $250,000. The account is…

A: Here,

Q: A fund is to be donated by a wealthy man to provide annual scholarships to deserving students. The…

A: Fund grant for each year = P120,000 for 5 years Grant each quarter = P30,000 for next 5 years  Grant…

Q: Sean contributed equal deposits at the end of every month for 2 years into an investment fund. He…

A: This can be solved in excel. Put the cell for the monthly deposits as a blank. Now for determining…

Q: Tara wishes to accumulate $25,000 in 3 years. use the appropriate formula to find the sinking fund…

A: Sinking Fund  A sinking fund is a specific kind of fund that is established with the intention of…

Q: Amanda invested the profit of her business in an investment fund that was earning 3.25% compounded…

A: The PV of an investment refers to the combined value of the cash flows of the investment assuming…

Q: How much will be in the fund a

A: Time value of money (TVM) means that the sum money received in the present will have more value…

Q: Kristen invested the profit of her business in an investment fund that was earning 3.25% compounded…

A: The future value of amount includes the amount being deposited and amount of compounding interest…

Q: Jacqueline invested the profit of her business in an investment fund that was earning 2.50%…

A: Let the amount invested in the fund be $ X. Interest rate = 2.50 % compounded monthly The money is…

Q: Answer the question and draw a cashflow diagram. A man inherited a regular endowment of P10,000…

A: Given: Amount = P10000 Years = 10 Interest rate = 14%

Q: 1-10. Suppose Mr. Claude would like to save P10,000 every month in a fund that gives 9% compounded…

A: Since you posted multiple questions, we will solve the first question for you.  The annuity is a…

Q: K Mr. Deneau accumulated $94,000 in an RRSP. He converted the RRSP into a RRIF and started to…

A: Step 1:Step 2: Step 3: Step 4:

Q: local businessman has set up a school fund that will last forever that can earn 3.1% annually. How…

A: The given problem deals with the concept of perpetuity. A perpetuity is a series of uniform cash…

Q: AJ is saving for a trip for his family and as of today has accumulated $675 in a trip fund. AJ's…

A: The period of investment refers to the period for which invest is made to achieve desired return and…

Q: Jeffery Johnson is saving $1,450,000 per year in a savings account that is paying annual compound…

A: The value of equal payments or a single payment at any specific date which falls in future is called…