avings of $1,600 and $800​,respectively, and deposit this amount into an account that pays 9% annual​ interest, compounded monthly,

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 $42,000 when the child reaches the age of 18? Assume the money earns 5% interest, compounded monthly. (Round your answer to two decimal places.)

If you desire to have $15,000 for a down payment for a house in six years, what amount would you need to deposit today? Assume that your money will earn 2 percent. Use the appropriate factor(s) from the tables provided

Please help me answer the following time value of money question. If Hollie deposits $5000 in an account that earns 3.5% interest compounded annually, how much will she have in 19 years? What if it is compounded quarterly?

Julieta and Eric are purchasing a home. They wish to save money for 12 years and purchase a house that has a value of $170,000 with cash. If they deposit money into an account paying 7 % interest, compounded monthly, how much do they need to deposit each month in order to make the purchase? Round your answer to the nearest cent, if necessary.

Sara has just graduated from college. She has determined that to purchase a home in 9 years she needs to accumulate $36,500 for a down payment. If Sara can earn 9% per year on her savings, what is the amount of the annual annuity payment that Sara must make at the end of each year for 9 years? Round to two decimal places

A relative has promised to pay you $93.00 today, and he will pay you additional payments every year for the next five years. Each year he will add $73.00 to the previous payment. (So, the payment in year 1 will equal $166.00). You decide to save every dollar you are given and will invest the money in an account paying 4.00% annual interest. How much money will you have accumulated in five years? Keep in mind that you will have six total cash flows to invest. Submit Answer format: Currency: Round to: 2 decimal places.

A couple is saving for retirement with three different accounts. The table below shows the current balances in their accounts, along with their yearly contribution, and the yearly return on each account. The couple will retire in 23.04 years and pool the money into a savings account that pays 3.09% APR. They plan on living for 28.39 more years and making their yearly withdrawals at the beginning of the year. What will be their yearly withdrawal? Yearly Contribution Account Fidelity Mutual Fund Vanguard Mutual Fund Employer 401k Balance $24,614.86 $183,591.46 $306,050.80 $1,000.00 $10,000.00 $15,000.00 APR 6.06% 7.55% 5.06%

Juan plans on saving $8000 each year starting at age 25 each year through age 65 (40 years). If he earns a “gross” 8% on his savings each year, how much money will he have at retirement if his account expense ratio is: 0.50% =$???????????? or 0.05%= $?????????????