elle Momba wants to visit her family in Zimbabwe in 2022, which is 7 years from now. She knows that it will cost approximately 200 including flight costs, on-the-ground costs, and extra spending money to stay for 4 months. If she opens an account that mpounds interest at 6% semiannually, how much does she need to deposit today to cover the total cost of her visit? (Round your swer to the nearest dollar.) eposit

elle Momba wants to visit her family in Zimbabwe in 2022, which is 7 years from now. She knows that it will cost approximately 200 including flight costs, on-the-ground costs, and extra spending money to stay for 4 months. If she opens an account that mpounds interest at 6% semiannually, how much does she need to deposit today to cover the total cost of her visit? (Round your swer to the nearest dollar.) eposit

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Jazelle Moma wants to visit her family in Zimbabwe in 2028, which is 6 years from now. She knows that it will cost approximately $7,100 including flight costs, on-the-ground costs, and extra spending money to stay for 4 months. If she opens an account that compounds interest at 4% semiannually, how much does she need to deposit today to cover the total cost of her visit?
Jazelle Momba wants to visit her family in Zimbabwe in 2025, which is 7 years from now. She knows that it will cost approximately $8,100 including flight costs, on-the-ground costs, and extra spending money to stay for 4 months. If she opens an account that compounds interest at 6% semiannually, how much does she need to deposit today to cover the total cost of her visit?
A young engineer wants to surprise her husband with a European vacation for their tenth anniversary, which is five years from now. She determine that the trip will cost $7,000. Assuming an interest rate of 5.5% compounded daily, approximately how much money does she need to deposit today for the trip?
Danny is saving towards his vacation. He has determined that the total cost including airfare and accommodation will amount to $5,000. a. If he sets aside $400 per month from his salary, starting from the end of this month, in an account that pays interest of 9% per annum, will he have enough to make the trip at the end of the year? b. How much more will he have in the account if he made his first deposit of $400 today? What kind of annuity is this?
The Pirerras are planning to go to Europe 2 years from now and have agreed to set aside $180/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 2%/year compounded monthly, how much money will be in their travel fund at the end of the second year? (Round your answer to the nearest cent.) $ Submit Answer
Ali has decided to take a trip back home to California in 1 ½ years, but she needs to save up some money first. She deposits $55 every week into an account that has an APR of 0.14%. How much money will she be able to save up for her trip?
) How long would it take for you to save an adequate amount for travelling around the world, if you deposit $40,000 per year into an account beginning one year from today that pays 20% per year if you wish to have a total of $1,000,000 at the beginning of your travel?(
Samantha wants to open a clothing store using her own money. She estimates that she will need about $80,000. How much should she deposit quarterly into an account with an APR of 2.4% in order to accrue enough money in ten years? Round your answer to the nearest dollar.
Celesta Frank wants to go on a cruise in three years. She could earn 8.2 percent compounded monthly in an account if she deposits the money today. She needs to have $10,000 in three years. How much will she have to deposit today? (Round to the nearest dollar.)
Sofia wants to start saving immediately for a trip to Hong Kong one year from now. She wants to accumulate P220,000 for the trip. Her savings account pays 12% compounded bimonthly. What must she deposit at the beginning of every two months to reach the target in one year?
a client plans to send a child to college for four years starting 18 years from now. having set aside money for tuition, she decides to plan for room and board also. She estimates these costs at $20,000 per year, payable at the beginning of each year, by the time her child goes to college. If she starts next year and makes 17 payments into a savings account paying 5 percent annually, what annual payments must she make?
The Pirerras are planning to go to Europe 2 years from now and have agreed to set aside $170/month for their trip. If they deposit this money at the end of each month into a savings account paying interest at the rate of 3%/year compounded monthly, how much money will be in their travel fund at the end of the second year? (Round your answer to the nearest cent.)

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