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- You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly. Note: Payments are made at the end of each period.A schools parent council wants to setup up a scholarship fund. How much needs to be invested today so that a scholarship of $1000 can be awarded every year for the next 10 years. Interest on the fund is 7% and will be compounded annuallyA person is offered a gift of $5,000 now or $8,000 five years from now. If such funds could be expected to earn 8 % over the next 5 years, which is the better choice?
- Your company wants to create a scholarship program that will cost $17,000 dollars a year. They will begin annually starting one year from now. 1) What amount must be invested today at 8.5% compounded annually to fund the scholarship program in perpetuity?Suppose your client is 35 years old and has already saved $150,000 for retirement. How much does your client need to contribute to a fund each month for the next 25 years (first payment at the end of this month), to reach a retirement goal of 4,000,000, if the fund is expected to earn an effective annual rate of 12%?Your realized income is $2,085.44, and your fixed expenses are 30%. You want to save 6 months worth in an emergency fund. How much do you need to save?
- Please try to solve in 20 minute How much more will you have in your RRSP 30 years from now if you start to contribute $1000 per year at the end of this year, instead of waiting five years to begin contributing $1000 at each year-end? Assume that the funds earn 8% compounded annually in the RRSP. Round your answer to the nearest dollar.If a donation of $100,000 is expected to pay out scholarships of $10,000 every year and the funds earn 7.5% compounded annually, how long will it be before the first annual payment can be made?Hal wants to establish a savings fund from which a community organization could draw $890 a year for 20 years. If the account earns 2.5 percent annual interest, what amount does he have to deposit now to achieve this goal? Use Exhibit 1B-4. (Round time value factors to 3 decimal places and final answer to the nearest dollar amount. Omit the "$" sign in your response.) Amount to be deposited $
- Present value: Tracy Chapman is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that she will need $35,000 for the down payment. If Tracy can invest in a fund that pays 9.25 percent annually, how much will she have to invest today? Please use Excel to solvePlease use excelComputer equipment estimated to cost $10,000 will be needed to replace old equipment in 5 years. What amount must be put into a sinking fund every 6 months if the semiannual interest rate is 3.5 percent. Add your answer Integer, decimal, or E notation allowed
